AASB 101 requires,as a minimum,certain line items to be included on the face of the balance sheet.Additional line items may be disclosed based on an assessment of:
A) The nature and liquidity of assets.
B) The functions of the assets within the entity.
C) The amounts, nature and timing of liabilities.
D) The nature and liquidity of assets and the amounts, nature and timing of liabilities.
E) All of the given answers.

Question

Quizplus · Accepted Answer

AASB 101 allows for additional line items to be disclosed based on the nature and liquidity of assets, the functions of the assets within the entity, and the amounts, nature, and timing of liabilities, which are all covered in the given options.

AASB 101 Requires,as a Minimum,certain Line Items to Be Included