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Question: Question 2 choose the most correct answer (20) 2.1 IAS 1 lists certain minimum line-items to be included on the face of the profit or loss section or the face of the statement of profit or loss. Amongst others, these minimum line-items include ___________. A. presenting separately revenue from sales and revenue from services. B. presenting separately revenue from sales, revenue from services and revenue from interest. C. gross profit D. operating profit E. none of the above
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are correct.
2.4 IFRS prescribes___________.
A. the use of IFRS in all companies
B. the use of IFRS in limited companies
C. the use of GAAP in companies with equity
D. the use of bo
are correct.
2.4 In a comparative financial statement, the most important line items to analyze are the_________________.
A. Balance sheet line items
B. Income statement line items
C
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