One of your clients, Gpaper Co., is preparing the statement of profit or loss and other comprehensive income. They are wondering whether the following iterns should be included in OCI: Gains on property revaluation Exchange differences on translating foreign operations Gain on sale of a subsidiary Remeasurements of defined benefit plans Loss for the year from discontinued operations Which of the following statements best describes how you would reply to your client? Select the best response, and then click Submit All items should be presented in OCI. Gains on property revaluation and gain on sale of a subsidiary should be presented in profit or loss rather than in oC. Gain or sale of a subsidiary and loss for the year from discontinued operations should be presented in profit or less rather than in OCI Gains on property revaluation, gain on sale of a subsidiary, and loss for the year from discontinued operations should be presented in profit or loss rather than in OCI. Submit Beta Co. is in litigation with one of its customers. As there was more than a 50% chance that the lawsuit may result in huge compensation payments by Beta Co., Beta Co. recognizes a provision in the statement of financial position for this fiscal year. Beta Co. considers the recognition and measurement of the provision a major source of estimation uncertainty What disclosures are required for this provision in the notes in accordance with IAS 17 Select the best response, and then click Submit The probability of all likely outcomes and course of actions Amounts estimated using the most likely amount and the expected value method Supplemental pro forma information about the litigation for the prior reporting period Details of the nature and carrying amounts of the provision at the end of the reporting period On 10 January 20X2, Traff Co. declares a special cash dividend. On 20 January 20X2, the financial statements for the year ending 31 December 20X1 are authorized for issue. On 31 January 20X2, the financial statements are issued. This dividend will be paid at the end of February 20x2. Should Traff Co. disclose information about this dividend in the notes to financial statements for the year ending 31 December 2017 Select the best response, and then click Submit Yes, because the dividends are declared before the financial statements are authorized for issue but not recognized as a distribution to owners during the period. Yes, because the dividends are declared before the financial statements were issued but not recognized as a distribution to owners during the period. No, unless the dividends are not disclosed elsewhere in information published with the financial statements. No, the dividends declared should be presented in the statement of changes in equlty, as dividends are distributions to owners in their capacity as owners Submit