CAF-1 · Chapter 11 · Question 8 of 15
Which of the following is NOT required to be displayed prominently identifying the financial statements?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) The names of the majority shareholders.
Explanation
IAS 1 requires the entity's name, whether it's a single entity or group, the reporting date, presentation currency, and level of rounding to be displayed, but not the names of shareholders.
More IAS 1 Presentation of Financial Statements MCQs
- Q10Which of the following items must be presented as a minimum in the statement of changes in equity?
- Q11How should an entity present the notes to its financial statements?
- Q12In the statement of financial position, what is the rule regarding the classification of deferred tax assets and liabilities?
- Q13Which statement best describes the presentation of 'Other Comprehensive Income' (OCI)?
- Q14An entity discovers a material limitation preventing it from complying with a specific requirement in an IFRS standard. What is the entity…