Accounting Multiple Choice Question – 9 April 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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An accounting standard (FRS 3 ‘Reporting Financial Performance’) requires a special format for the Profit and Loss Account.

Under this standard which of the following need not be separately disclosed?

Select ONE answer:

  1. profit or loss on continuing operations 
  2. profit or loss on discontinued operations
  3. profit or loss on disposal of an operation
  4. profit or loss on overseas operations

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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