AASB 101 requires which of the following items to be disclosed separately in the statement of profit or loss and other comprehensive income:
I. Cost of sales.
II. Revenue.
III. Finance costs.
IV. Share of the profit or loss from associates.
V. Tax expense relating to extraordinary events.
A) I, II, and V
B) II, III and V
C) II, III, and IV
D) III and V

Question

Quizplus · Accepted Answer

AASB 101 requires that finance costs and tax expense relating to extraordinary events be disclosed separately in the statement of profit or loss and other comprehensive income. Additionally, the share of the profit or loss from associates should also be disclosed separately. However, cost of sales and revenue are reported as separate line items in the statement of profit or loss and are not required to be disclosed separately.

AASB 101 Requires Which of the Following Items to Be