IAS 1/AASB 101 Defines a Complete Set of Financial Statements

question 41

Multiple Choice

IAS 1/AASB 101 defines a complete set of financial statements as comprising:

• A) a balance sheet, a profit or loss report, a statement of cash flows and a director's report.
• B) a statement of financial position, a statement of profit or loss and other comprehensive income for the period, a statement of changes in equity, a statement of cash flows , and notes comprising a summary of accounting policies and other explanatory information.
• C) a statement of financial position, a statement of profit or loss and other comprehensive income for the period, a statement of changes in equity and a statement of cash flows.
• D) a statement of financial position, a statement of profit or loss and other comprehensive income for the period, and a statement of cash flows.

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Definitions:

Consciousness

The state of being aware of and able to think about one's surroundings, oneself, and the interaction between the two.

Delirium

An acute, often fluctuating state of confusion, characterized by altered consciousness, attention, cognition, and perception.

Dementia

A broad category of brain diseases that cause a long-term and often gradual decrease in the ability to think and remember, significantly impairing daily functioning.