What are the accounting standards that are specific to the nature and disclosure of income?
A) IAS 1/AASB 101/IAS 7/AASB 107
B) IAS 16/AASB 116/IAS 7/AASB 107
C) IAS 7/AASB 107/ IAS 18/AASB 118
D) IAS 1/AASB 101/IAS 18/AASB 118

Question

Quizplus · Accepted Answer

IAS 1/AASB 101 and IAS 18/AASB 118 are specifically related to the presentation of financial statements and the recognition of revenue, which directly impacts the nature and disclosure of income.

What Are the Accounting Standards That Are Specific to the Nature