What Is the Correct Heading on a Statement of Profit

question 54

Multiple Choice

What is the correct heading on a statement of profit or loss and other comprehensive income made up for a twelve month period to 30 June 2016?

• A) As at 30 June 2016
• B) For the year ended 30 June 2016
• C) For the period ended 30 June 2016
• D) 30th June 2016

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Definitions:

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by their quantity.

Standard Deviation

A method to assess how much the values in a dataset diverge from one another.

Normally Distributed

A type of distribution characterized by a symmetrical bell-shaped curve, where the mean, median, and mode are equal.

Mean

The arithmetic average of a set of values, or distribution, calculated by summing the values and then dividing by the number of values.