IAS 1/AASB 101 Prescribes Which Format for the Statement of Financial

question 48

Multiple Choice

IAS 1/AASB 101 prescribes which format for the statement of financial position?

• A) Assets = equity + liabilities
• B) Equity = assets - liabilities
• C) Assets - liabilities = equity
• D) No one format is prescribed

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Definitions:

Plant Cells

Basic units of life in plants, typically having a cell wall, chloroplasts, and a central vacuole.

Cellulose

Cellulose is an organic compound and a polysaccharide made up of glucose units, forming the primary structural component of plant cell walls and providing rigidity to plants.

Structural Isomers

Molecules that have the same molecular formula but differ in the arrangement of atoms.

Geometric Isomers

Molecules that have the same formula and sequence of bonded atoms, but differ in the three-dimensional orientations of their atoms in space.