Under IFRS which of the following is NOT a choice for the Statement of Comprehensive Income?
A) The company may use an all inclusive format.
B) Items may be reported on a before tax basis.
C) The company may use a separate statement.
D) Items must be reported on a net of tax basis.

Question

Quizplus · Accepted Answer

Under IFRS, items in the Statement of Comprehensive Income must be reported net of tax, not on a before tax basis. Choices A, C, and D are all acceptable practices under IFRS.

Under IFRS Which of the Following Is NOT a Choice