Under IFRS, income statement items classified by nature are generally described as
A) administration, distribution, manufacturing, etc.
B) salaries, depreciation, utilities, etc.
C) administration, depreciation, manufacturing, etc.
D) salaries, distribution, utilities, etc.

Question

Quizplus · Accepted Answer

Under IFRS, classifying income statement items by nature involves grouping expenses based on their type, such as salaries, depreciation, and utilities, rather than their function within the organization.

Under IFRS, Income Statement Items Classified by Nature Are Generally