1. Total comprehensive income includes a. all non-owner changes in equity b. all owner changes in equity c. some non-owner changes in equity d. a or b 2. According to PAS1 Presentation of Financial Statements reclassification adjustments are a. assets and expenses reclassified to other asset accounts in the current period b. amounts reclassified to other comprehensive income in the current period that were recognized in profit or loss in the current or previous periods c. amounts reclassified to profit or loss in the current period that were recognized in other comprehensive income in the current or previous periods d. a and b 3. According to PAS1 Presentation of Financial Statements, an entity shall present all items of income and expense recognized in a period: a. in a single statement of profit or loss and other comprehensive income b. in two statements – an income statement and a statement of comprehensive income c. in a single statement of changes in equity d. a or b
1. Total comprehensive income includes a. all non-owner changes in equity b. all owner changes in equity c. some non-owner changes in equity d. a or b 2. According to PAS1 Presentation of Financial Statements reclassification adjustments are a. assets and expenses reclassified to other asset accounts in the current period b. amounts reclassified to other comprehensive income in the current period that were recognized in profit or loss in the current or previous periods c. amounts reclassified to profit or loss in the current period that were recognized in other comprehensive income in the current or previous periods d. a and b 3. According to PAS1 Presentation of Financial Statements, an entity shall present all items of income and expense recognized in a period: a. in a single statement of profit or loss and other comprehensive income b. in two statements – an income statement and a statement of comprehensive income c. in a single statement of changes in equity d. a or b
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
1. Total comprehensive income includes
a. all non-owner changes in equity
b. all owner changes in equity
c. some non-owner changes in equity
d. a or b
2. According to PAS1 Presentation of Financial Statements reclassification adjustments are
a. assets and expenses reclassified to other asset accounts in the current period
b. amounts reclassified to other comprehensive income in the current period that were recognized in profit or loss in the current or previous periods
c. amounts reclassified to profit or loss in the current period that were recognized in other comprehensive income in the current or previous periods
d. a and b
3. According to PAS1 Presentation of Financial Statements, an entity shall present all items of income and expense recognized in a period:
a. in a single statement of profit or loss and other comprehensive income
b. in two statements – an income statement and a statement of comprehensive income
c. in a single statement of changes in equity
d. a or b
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