In Relation to 'Retained Earnings', AASB 101 Mandates the Following

question 21

Multiple Choice

In relation to 'retained earnings', AASB 101 mandates the following disclosures:
I. Any changes during the reporting period.
II. The related tax adjustments in respect to any changes during the period.
III. The beginning balance.
IV. The balance at reporting date.

• A) I, II, III and IV;
• B) II, III and IV only;
• C) I, III and IV only;
• D) III and IV only.

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Definitions:

Trademark Action

Legal proceedings initiated to enforce trademark rights or defend against allegations of trademark infringement.

Passing-off Action

A legal remedy against someone who falsely represents their own products or services as those of another, misleading consumers.

Intellectual Property

Rights obtained from intellectual efforts in sectors including industry, science, literature, and art.

Duty of Confidentiality

The obligation to keep information shared in a professional relationship private unless the individual has given consent to disclose it.