AASB 101 requires,as a minimum,certain line items to be included on the face of the statement of financial position .Additional line items may be disclosed based on an assessment of:
A) the nature and liquidity of assets.
B) the functions of the assets within the entity.
C) the amounts, nature and timing of liabilities.
D) all of the given answers.

Question

Quizplus · Accepted Answer

AASB 101 requires certain line items on the face of the statement of financial position, but additional line items may be disclosed based on an assessment of the nature and liquidity of assets, the functions of the assets within the entity, and the amounts, nature, and timing of liabilities. Therefore, all of the given answers are correct.

AASB 101 Requires,as a Minimum,certain Line Items to Be Included