Published statement of financial positions in Australia are mostly presented in which format?
A) Horizontal format.
B) Parallel format.
C) Vertical format.
D) 'T' format.

Question

Quizplus · Accepted Answer

Published statements of financial positions in Australia are mostly presented in Vertical format. This format shows assets, liabilities and equity as separate sections, with subtotals for each section. It is also known as the Balance Sheet format.

Published Statement of Financial Positions in Australia Are Mostly Presented