Choose whether each item below is reported in:

1. the statement of financial position
2. profit or loss in the statement of profit or loss and other comprehensive income
3. other comprehensive income in the statement of profit or loss and other comprehensive income
4. the statement of changes in equity
5. the notes to the financial statements.

(5 Marks)

Sales revenue	Answer 1Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial positionthe statement of changes in equitythe notes to the financial statements.
Gain on revaluation of equipment - OCI	Answer 2Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial positionthe statement of changes in equitythe notes to the financial statements.
Finance costs	Answer 3Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial positionthe statement of changes in equitythe notes to the financial statements.
Deferred tax liability	Answer 4Choose...other comprehensive income in the statement of profit or loss and other comprehensive incomeprofit or loss in the statement of profit or loss and other comprehensive incomethe statement of financial positionthe statement of changes in equitythe notes to the financial statements.
Transfer from retained earnings to general reserve