IASB makes changes to statements of financial practice

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. Which, if any, of the following statements is to be included within the statement of financial performance in relation to what is currently known as other comprehensive income? Statement 1 - Remeasurements reported outside profit or loss, or Statement 2 - Income and expenses to be included in profit or loss in the future

  2. Which of the following is not a line item to be included within finance income/expenses?

  3. Which of the items is likely to fall under the definition of a financing activity?

  4. Which of the following represents the name of a proposed new category within the statement of financial performance?

  5. Which of the following is NOT covered by IASB proposals on the statement of financial performance?