According to AASB 1039, in order to provide clear information to shareholders the concise financial report must disclose how many of the following? - Details of any events occurring after the end of the reporting period - That the report is an extract only from the full financial report - The amount of dividends paid and dividends proposed - Graphs of profits for the last five years

AS 1/AASB 101 defines a complete set of financial statements as comprising:

Select one:

a.

a balance sheet, a profit or loss report, a statement of cash flows and a director's report.

b.

a statement of financial position, a statement of profit or loss and other comprehensive income for the period, a statement of changes in equity, a statement of cash flows , and notes comprising a summary of accounting policies and other explanatory information.

c.

a statement of financial position, a statement of profit or loss and other comprehensive income for the period, a statement of changes in equity and a statement of cash flows.

d.

a statement of financial position, a statement of profit or loss and other comprehensive income for the period, and a statement of cash flows.

An income statement prepared for external use would normally disclose ____ expense and revenue items than one prepared for internal use.

Select one:

a.

less

b.

varied

c.

more

d.

the same

When might borrowing costs not appear in a statement of comprehensive income?

Select one:

a.

If they relate to research expenditure.

b.

If they are less than five percent of total expenses.

c.

If borrowing costs are directly attributable to the acquisition, construction or production of a qualifying asset.

d.

If they result from a negatively geared project.