The tax expense related to profit or loss of the period is required to be presented:
A) on the face of the statement of financial position.
B) on the face of the statement of profit or loss and other comprehensive income.
C) in the statement of cash flows.
D) in the statement of changes in equity.

Question

Quizplus · Accepted Answer

The tax expense related to profit or loss of the period should be presented on the face of the statement of profit or loss and other comprehensive income, as it is a significant component of the company's financial performance for the period. It should not be presented on the face of statement of financial position, in the statement of cash flows, or in the statement of changes in equity.

The Tax Expense Related to Profit or Loss of the Period