What is the correct heading on a statement of financial position made up to 30 June 2014?
A) As at 30 June 2014
B) For the year ended 30 June 2014
C) For the period ended 30 June 2014
D) 30th June 2014

Question

Quizplus · Accepted Answer

The correct heading for a statement of financial position is "As at" followed by the date, in this case "30 June 2014". This indicates that the statement is a snapshot of the entity's financial position at that particular point in time. Option B and C are incorrect as they suggest the statement covers a full year or period, rather than just a specific date. Option D is incomplete as it does not include the "As at" wording.

What Is the Correct Heading on a Statement of Financial