The accounting standard relating to the statement of financial position is:
A) AASB 103
B) AASB 101
C) AASB 140
D) AASB 111

Question

Quizplus · Accepted Answer

AASB 101 is the accounting standard relating to the statement of financial position (also known as the balance sheet). AASB 103 relates to the statement of cash flows, AASB 140 relates to investment property, and AASB 111 relates to construction contracts.

The Accounting Standard Relating to the Statement of Financial Position