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Financial Reporting

Business

Quiz 16 :

Presentation of Financial Statements

Quiz 16 :

Presentation of Financial Statements

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Under AASB 101, profit or loss attributable to non-controlling interests is required to be presented in the:
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Multiple Choice
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Answer:

D

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Assets and liabilities, and income and expenses may be off-set if:
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Answer:

B

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At reporting date for Year 1, Delta Limited had a loan from its financial institution that is expected to settle within six months. The loan term was renegotiated after reporting date and before the authorisation date of the financial statements and the repayment date was extended by two years. For the purposes of financial statement presentation for Year 1, this loan is classified by Delta Limited as a/an:
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Answer:

A

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AASB 101 Presentation of Financial Statements applies to the following sets of financial statements:
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Items that are dissimilar in nature must be presented separately in financial statements unless:
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A liability will be classified as 'non-current' if it satisfies which of the following criterion?
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In respect to the statement of profit or loss and other comprehensive income of an entity, AASB 101 prescribes:
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Included in a statement of changes in equity are the following items: I. Gains or losses not recognised in the statement of profit or loss and other comprehensive income. II. New share issues. III. Dividends paid. IV. Opening and closing balances. V. Profit or loss for the period.
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A set of financial statements prepared in accordance with AASB 101 comprises: I. A statement of cash flows. II. A statement of financial position. III. A statement of changes in equity. IV. A statement of profit or loss and other comprehensive income. V. Notes.
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The primary source of information about an entity's financial position is to be found in its statement of:
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Which of the following note disclosures are not required by AASB 101?
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According to AASB 101 Presentation of Financial Statements, a required format for the presentation of a statement of financial position is:
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Industries where operating cycles may exceed twelve months typically include:
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Which of the following items are normally classified as 'current' in a statement of financial position? I. deferred tax liabilities. II. accounts payable. III. inventories. IV. goodwill.
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Under AASB 101 Presentation of Financial Statements, which of the following items is disclosed separately on the face of a statement of financial position?
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An entity is required to classify its assets and liabilities as current or non-current unless it is considered more relevant and more reliable for decision-making purposes to present them according to their:
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Which of the following items must be presented as a separate line item in the statement of financial position?
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According to AASB 101, a required format for the presentation of the statement of profit or loss and other comprehensive income is:
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AASB 101 requires which of the following items to be disclosed separately in the statement of profit or loss and other comprehensive income: I. Cost of sales. II. Revenue. III. Finance costs. IV. Share of the profit or loss from associates. V. Tax expense relating to extraordinary events.
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Which of the following items does not have to be presented as a line item on the face of a statement of profit or loss and other comprehensive income?
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