Choose whether each item below is reported in:

the statement of financial position

profit or loss in the statement of profit or loss and other comprehensive income

other comprehensive income in the statement of profit or loss and other comprehensive income

the statement of changes in equity

the notes to the financial statements.

(5 Marks)

Gain on revaluation of equipment - OCI	Answer 1Choose...the notes to the financial statements.the statement of changes in equityother 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 financial position
Finance costs	Answer 2Choose...the notes to the financial statements.the statement of changes in equityother 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 financial position
Cost of Goods Sold	Answer 3Choose...the notes to the financial statements.the statement of changes in equityother 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 financial position
Deferred tax asset	Answer 4Choose...the notes to the financial statements.the statement of changes in equityother 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 financial position
Transfer from retained earnings to general reserve	Answer 5Choose...the notes to the financial statements.the statement of changes in equityother 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 financial position