Because the effects of an entity's various activities, transactions and other events differ in frequency, potential for gain or loss and predictability, disclosing the components of financial performance assists users in understanding the financial performance achieved and in making projections of future financial performance. TRUE FALSE no answer Classification of a liability is affected by the likelihood that the entity will exercise its right to defer settlement of the liability for at least twelve months after the reporting period. TRUE FALSE no answer Which of the following is not required to be disclosed in the profit or loss * 1 point statement according to IAS 1 Presentation of Financial Statements? sales revenue Share of loss of associate. Gain on reclassification of a financial liability. Loss from the derecognition of a financial asset. According to IAS 1 Presentation of Financial Statements, which of the * 1 point following does not have to be presented as a line item in the statement of financial position? Assets and liabilities for current tax. Non-controlling interests, presented within equit Investments accounted for using the equity method. The number of shares authorised, issued and fully paid