AASB 107 requires disclosure of information about transactions and events that do not result in cash flows during the financial year,including:
A) A commitment under an operating lease.
B) The use of forward exchange contracts to hedge purchases.
C) Acquisition of assets by entering into finance leases.
D) Liquidation of investments.
E) None of the given answers.

Question

Quizplus · Accepted Answer

AASB 107 requires disclosure of non-cash transactions such as the acquisition of assets through finance leases, as these do not involve direct cash flows but are significant for understanding the entity's financial position.

AASB 107 Requires Disclosure of Information About Transactions and Events