Accounting Multiple Choice Question – 9 April 2021

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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