A statement displaying components of profit or loss is referred to in AASB 101 as a(n):
A) Profit and loss statement.
B) Statement of income.
C) Statement of financial performance.
D) Income statement.
E) None of the given answers.

Question

Quizplus · Accepted Answer

AASB 101 uses the term "income statement" to refer to the statement displaying components of profit or loss.

A Statement Displaying Components of Profit or Loss Is Referred