AASB 101 Requires That a Reconciliation Between the Carrying Amount

question 5

Multiple Choice

AASB 101 requires that a reconciliation between the carrying amount of each class of contributed equity capital and each reserve at the beginning and end of each period be disclosed in:

• A) the statement of changes in equity only.
• B) the notes only.
• C) either the statement of changes in equity or the notes.
• D) Statement of profit or loss and other comprehensive income.

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Definitions:

Chapter 11

A provision under the U.S. Bankruptcy Code that allows businesses to reorganize and restructure their debts while continuing operations.

Plan of Reorganization

A detailed proposal for restructuring a company's finances and operations, typically during bankruptcy proceedings.

Conversion

An unauthorized act that deprives an owner of their property, altering its use or possession without consent.

Consumer Debts

Debts incurred for personal, as opposed to business, needs, typically including credit card debt, auto loans, and mortgages.