Question：Which one of the following statements regarding a limited liability company statement of comprehensive income is correct?
A. Accounting standards define the expenses which are reported under 'cost of sales'
B. 'Depreciation' appears as a separate heading
C. Interest payable is deducted from profit after taxation
D. Irrecoverable debts will be included under one of the expense headings (usually administrative expenses)
The correct answer is:Irrecoverable debts will be included under one of the expense headings (usually administrative expenses).
解析：Accounting standards define the expenses which are reported under 'cost of sales' - The contents of cost of sales are not defined by any IFRS.
'Depreciation' appears as a separate heading - Depreciation will be included under the relevant expense heading (eg office equipment depreciation will go into administrative expenses).
Interest payable is deducted from profit after taxation - Net profit is calculated after interest.
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