Under the accounting standard governing the presentation of the statement of profit or loss,the item that is not required to be presented on the face of the statement for a retail entity is:
A) cost of sales.
B) finance costs.
C) depreciation.
D) tax expense.

Question

Quizplus · Accepted Answer

Depreciation is not required to be separately presented on the face of the statement of profit or loss for a retail entity. It is typically included within operating expenses or cost of sales, depending on how the related assets are used in the business.

Under the Accounting Standard Governing the Presentation of the Statement