Which Accounting Standards Are Specific to the Nature and Disclosure

question 15

Multiple Choice

Which accounting standards are specific to the nature and disclosure of income?

• A) IAS 1/AASB 101; IAS 7/AASB 107
• B) IAS 16/AASB 116; IAS 7/AASB 107
• C) IAS 7/AASB 107; IAS 18/AASB 118
• D) IAS 1/AASB 101; IAS 15/AASB 115

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Definitions:

Increase

A rise or growth in quantity, size, intensity, or another measure.

Phonemes

The basic units of sound in a language that distinguish one word from another.

Alphabet

A set of letters or symbols in a fixed order used to represent the basic sounds of a language.

Languages

Systems of communication used by people comprising of symbols, sounds, and rules for combining them.