Which of the Following Items Must Be Presented as a Separate

question 37

Multiple Choice

Which of the following items must be presented as a separate line item on the face of a statement of profit or loss and other comprehensive income?

• A) Cost of sales
• B) Share of profit or loss of associates and joint ventures
• C) Wages and salaries expense
• D) Share of profit or loss of subsidiaries

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Definitions:

Prenuptial Agreement

An agreement made before marriage that defines each partner’s ownership rights in the other partner’s property. Prenuptial agreements must be in writing to be enforceable.

Postnuptial Agreement

A written agreement made between spouses after marriage, outlining the distribution of assets in the event of divorce or separation.

Business Assets

Resources owned by a business, considered valuable and necessary for its operations and growth, which can be tangible or intangible.

Eminent Domain

The power of the state to expropriate private property for public use, with compensation for the property owner.