Day: February 11, 2021

Accounting Standards require a statement of total recognised gains and losses to be reported.

Which item, arising during the year, will be included in the statement?

Select ONE answer:

1. dividend payable
2. Goodwill written off to reserves
3. premium on shares issued
4. prior year adjustment

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct

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