The current version of IAS 1/AASB 101 allows which alternative title for the statement of profit or loss and other comprehensive income for the period?
A) Income statement
B) Profit or loss
C) Statement of financial position
D) Statement of assets and liabilities

Question

Quizplus · Accepted Answer

IAS 1/AASB 101 permits the use of alternative titles for financial statements, including allowing the statement of profit or loss and other comprehensive income to be referred to as the "Income Statement."

The Current Version of IAS 1/AASB 101 Allows Which Alternative