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  3. choose whether each item below is reported in: th

Choose whether each item below is reported in: the statement of financial position profit...

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Accounting

Choose whether each item below is reported in:

  1. the statement of financial position
  2. profit or loss in the statement of profit or loss and other comprehensive income
  3. other comprehensive income in the statement of profit or loss and other comprehensive income
  4. the statement of changes in equity
  5. the notes to the financial statements.

(5 Marks)

Gain on revaluation of equipment - OCI

 Answer 1Choose...other comprehensive income in the statement of profit or loss and other comprehensive income , profit or loss in the statement of profit or loss and other comprehensive income the statement of changes in equityt he statement of financial position the notes to the financial statements.

Transfer from retained earnings to general reserve

 Answer 2Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of changes in equitythe statement of financial positionthe notes to the financial statements.

Deferred tax liability

 Answer 3Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of changes in equitythe statement of financial positionthe notes to the financial statements.

Finance costs

 Answer 4Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of changes in equitythe statement of financial positionthe notes to the financial statements.

Sales revenue

 Answer 5Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of changes in equitythe statement of financial positionthe notes to the financial statements.

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