Under the Accounting Standards, Which of These Is Included in the Calculation

question 22

Multiple Choice

Under the accounting standards, which of these is included in the calculation of a company's profit or loss (not including other comprehensive income in the definition of profit) ?
Downward revaluations of non-current assets, not requiring adjustment to a revaluation surplus.
Upward revaluations of non-current assets requiring adjustment to a revaluation surplus.
Gains or losses on remeasuring investments in equity instruments.
Adjustments from translation of the financial statements of a foreign operation.

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Data Elements

Individual units of data that represent a specific piece of information, used in the structure of databases and data systems.

Workers' Compensation

This insurance offers medical benefits and compensation for lost wages to employees hurt during their employment.

Verification

The process of establishing the truth, accuracy, or validity of something.

Policy Number

A unique identifier assigned to an insurance policy.