11.Which of the following could NOT be considered for inclusion in the carrying amount of the line item Trade and other payables?

a.GST payable

b.Non-trade payables

c.Accrued expenses

d.None of these - they could all be considered for inclusion in the line item Trade and other payables

e.Unearned revenue

12.Coloma Limited reports Non-controlling interests within the equity section of its statement of financial position.

Which of the following statements is incorrect?

a.All of these statements are correct.

b.Coloma Limited holds more than 50%, but less than 100%, of the shares in another company.

c.Coloma Limited has shareholders from a subsidiary. d.Coloma Limited has prepared consolidated financial statements.

e.Coloma Limited is a parent entity.

13.Which of the following statements regarding Retained earnings is correct?

a.Retained earnings do not include Other comprehensive income.

b.Retained earnings cannot have a negative carrying amount. c.All of these statements are correct. d.Retained earnings represent cash set aside for future dividends.

e.Retained earnings can only decrease because of dividends.