Where the entity presents current assets separately from non-current assets and current liabilities separately from non-current liabilities what disclosure is the entity required to make under AASB 101?
A) The reason for selecting that style of presentation.
B) The length of its operating cycle if it has clearly been identified as being greater than 12 months.
C) The net amount of working capital.
D) A list of the assets and liabilities in the order of their liquidity.
E) None of the given answers.

Question

Quizplus · Accepted Answer

Under AASB 101, if an entity's operating cycle is greater than 12 months, it must disclose the length of its operating cycle when presenting current and non-current assets and liabilities separately.

Where the Entity Presents Current Assets Separately from Non-Current Assets