In the Current Version of IAS 1/AASB 101 Presentation of Financial

question 39

Multiple Choice

In the current version of IAS 1/AASB 101 Presentation of Financial Statements, what is an acceptable alternative title for the statement of financial position?

• A) Profit and loss statement
• B) Income statement
• C) Balance sheet
• D) Financial statement

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Definitions:

Tag

A label or identifier that is assigned to data, which makes it easier to manage, search, and manipulate within software applications.

Tag-Based Addressing

Tag-based addressing uses descriptive names (tags) for addressing instead of traditional physical or memory addresses, simplifying programming and system configuration.

Memory Locations

Specific addresses in a computer's memory where data or instructions are stored, each uniquely identifiable for retrieval and storage operations.

CLX Processor

Reference to ControlLogix processors used in Allen-Bradley PLC systems, providing high-speed processing for industrial control and automation.