A company consults you about which disclosures are required when preparing statements in accordance with IFRS. Which of the following is a required disclosure on an IFRS Statement of Profit or Loss (I/S)?
A. Gross profit, operating profits, and net profits.
B. Operating expenses, non-operating expenses, and selling and administrative expenses.
C. Finance costs, tax expense, and income.
D. Revenues, cost of goods sold, and advertising expense.
Answer:C
A company consults you about which disclosures are required when preparing statements in accordance with IFRS. Which of the following is a required disclosure on an IFRS Statement of Profit or Loss (I/S)?
A. Gross profit, operating profits, and net profits. B. Operating expenses, non-operating expenses, and selling and administrative expenses. C. Finance costs, tax expense, and income. D. Revenues, cost of goods sold, and advertising expense.