According to AASB 101, a required format for the presentation of the statement of profit or loss and other comprehensive income is:
A) prescribed by the standard.
B) not prescribed but guidance is provided in the standard for a suitable format.
C) not prescribed and no guidance is provided in the standard for a suitable format.
D) prescribed by the standard and further details are found in the Corporations Act.

Question

Quizplus · Accepted Answer

AASB 101 does not prescribe a specific format for the presentation of the statement of profit or loss and other comprehensive income, but it does provide guidance on how it should be presented.

According to AASB 101, a Required Format for the Presentation