4. Statement 1: The notes shall disclose the information requirec PFRS/IFRS that is presented elsewhere in the finan statements. The notès provide information that is presen elsewhere in the financial statements, but is Statemént 2: relevant to an understanding of any of the finan
4. Statement 1: The notes shall disclose the information requirec PFRS/IFRS that is presented elsewhere in the finan statements. The notès provide information that is presen elsewhere in the financial statements, but is Statemént 2: relevant to an understanding of any of the finan
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Choose the letter of the correct answers.
Transcribed Image Text:the carrying amount at the beginning and the end of the period
d. For each component of equity, a reconciliation is made between
The notes shall disclose the information required by
4.
PFRS/IFRS that is presented elsewhere in the financial
Statement 1:
statements.
The notes provide information that is
elsewhere in the financial statements, but is not
Statemént 2:
presented
relevant to an understanding of any of the financial
statements.
a. Only the first statement is correct.
b.
Only the second statement is correct.
с.
C. Both statements are correct.
Во
d. Neither of the statements is correct.
5.
The following statements are correct, except:
An entity shall present, either in the statement of comprehensive
income or in the notes, the amount of dividends recognized as
distribution to owners during the period.
a.
The notes shall present information about the basis of preparation
of the financial statements and the specific accounting policies
used.
b.
An entity shall' disclose in the summary of significant accounțting
policies the measurement basis used in the preparation of
financial statements.
с.
the carrying amount at the beginning and the end of the perno
separately disclosing changes from profit or loss.
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