Which of the Following Expenses Do Not Require Separate Disclosure

question 34

Multiple Choice

Which of the following expenses do not require separate disclosure under the accounting standards in the statement of profit or loss and other comprehensive income or in the notes attached to the statement?

• A) Rent expense
• B) Interest paid
• C) Bad and doubtful debts
• D) Impairment expenses of non-current assets

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Definitions:

Hobby

An activity done regularly in one's leisure time for pleasure, not normally intended as a primary source of income.

Deductible

An expense that can be subtracted from gross income to reduce taxable income, thereby lowering the tax liability.

Trade Or Business

Engagements or activities conducted for the purpose of income or profit, characterized by continuity and regularity.

Mortgage Interest

The interest charged on a loan used to purchase a property, often tax-deductible for the borrower.