Which statement is incorrect regarding presentation of statement  of  profit  or  loss  and  other  comprehensive income

1.   Which statement is incorrect regarding presentation of statement  of  profit  or  loss  and  other  comprehensive income?
a.   An   entity   may   use   the   title   'statement   of comprehensive  income'  instead  of  'statement  of profit or loss and other comprehensive income'.
b.   An entity may present the profit or loss section in a separate statement of profit or loss.
c.   If presented separately, the statement of profit or loss   shall   immediately   precede   the   statement
presenting   comprehensive   income,   which   shall
begin with profit or loss.
d.   An entity may present a single statement of profit or  loss  and  other  comprehensive  income,  with
profit  or  loss  and  other  comprehensive  income
presented in one section.

2.   The    statement    of    profit    or    loss    and    other comprehensive income shall present
a.   Profit or loss
b.   Total other comprehensive income
c.   Comprehensive  income  for  the  period,  being  the total  of  profit  or  loss  and  other  comprehensive income
d.   All of the above

3.   The    statement    of    profit    or    loss    and    other comprehensive income shall present allocation of profit or loss and other comprehensive income for the period attributable to
a.   Owners of the parent
b.   Non-controlling interests 

c.   Both a and b
d.   Neither a nor b

4.   An  entity  presents  an  analysis  of  expenses  using  a classification based on:
a.   The nature of expenses. b.   The function of expenses.
c.   Either  the  nature  of  expenses  or  the  function  of expenses  within  the  entity,  whichever  provides
information that is reliable and more relevant.
d.   Either  the  nature  of  expenses  or  the  function  of expenses  within  the  entity,  whichever  the  entity would prefer to present.

5.   Tub    Corp.    reports    operating    expenses    in    two categories:    (1)    selling,    and    (2)    general    and administrative.  The adjusted trial balance included the following expense and loss accounts:
Accounting and legal fees                          P120,000
Advertising                                                150,000
Freight-out                                                  80,000
Interest                                                       70,000
Loss on sale of long-term investment             30,000
Officers' salaries                                         225,000
Rent for office space                                   220,000
Sales salaries and commissions                   140,000

One-half  of  the  rented  premises  is  occupied  by  the sales department. Tub's total selling expenses are P_________

6.   An   entity   classifying   expenses   by   function   shall disclose   additional   information   on   the   nature   of expenses.  The minimum disclosure does not include
a.   Depreciation                    

b.  Amortization

c.   Employee Benefits

d.   Advertising

7.   The alphabetical list of items that may be relevant in the  preparation  of  a  statement  of  profit  or  loss  of Similac Corporation is provided below:

Decrease in inventories of finished
goods and work in progress                  P107,900
Depreciation expense                                   17,000
Employee benefits expense                           43,000
Finance costs                                               18,000
Income tax expense                                     32,000
Other expenses                                             5,500
Other income                                               11,300
Raw material and consumables used              92,000
Revenue                                                    355,000
Share of profit of associates                          30,100
Work performed by the entity and
capitalized                                               15,000

The profit for the year is P_____________

8.   The profit or loss section or the statement of profit or loss shall include the following line items, except
a.   Gains and losses on distribution of non-cash assets to owners.
b.   Revenue,  presenting  separately  interest  revenue calculated using the effective interest method
c.   A  single  amount  for  the  total  of  discontinued
operations
d.   Impairment     losses     (including     reversals     of impairment     losses     or     impairment     gains) determined in accordance with PAS 36.

9.   In accordance with PAS 1, the profit or loss section or the  statement  of  profit  or  loss  shall  include  line  item for gains and losses from derecognition of
a.   Financial  assets  measured  at  fair  value  through profit or loss.
b.   Financial  assets  measured  at  fair  value  through other comprehensive income.
c.   Financial assets measured at amortized cost.

d.   All of these.