Which of the following items must be presented as a line item on the face of a statement of financial position?
A) Trade and other receivables
B) Sales revenue
C) Cost of goods sold
D) Share of profit of subsidiaries

Question

Quizplus · Accepted Answer

Trade and other receivables are considered a current asset and must be presented as a line item on the face of the statement of financial position according to accounting standards. Sales revenue, cost of goods sold, and share of profit of subsidiaries are all considered income statement items and would not typically appear on the statement of financial position.

Which of the Following Items Must Be Presented as a Line