Which approach is contained in IAS 1/AASB 101, requiring all income and expenses to be included in the determination of profit?
A) the operating approach.
B) the comprehensive profit approach.
C) the reporting method approach.
D) the all-inclusive profit approach.

Question

Quizplus · Accepted Answer

IAS 1/AASB 101 adopts the all-inclusive profit approach, requiring that all income and expenses be included in the determination of profit, ensuring a comprehensive view of an entity's financial performance.

Which Approach Is Contained in IAS 1/AASB 101, Requiring All