Which of the following items,if it exists,must be presented as a line item on the face of a statement of financial position?
A)Trade and other receivables
B)Revenue
C)Cost of sales
D)Share of profit of associates.

Question

Quizplus · Accepted Answer

Trade and other receivables are assets and must be presented as a line item on the face of a statement of financial position. Revenue, cost of sales, and share of profit of associates may be presented in the income statement.

Which of the Following Items,if It Exists,must Be Presented as a Line