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'Recognised' in Relation to Asset Disclosure May Be Defined as Meaning

Question 42

Multiple Choice

'Recognised' in relation to asset disclosure may be defined as meaning:


A) disclosed in the notes to the accounts but not reported on, or incorporated in amounts reported on the face of the statement of financial position .
B) classified according to nature or type within liquidity categories based on the operating cycle of the reporting entity.
C) reported on, or incorporated in amounts reported on, the face of the statement of financial position .
D) familiar, of well-known usefulness.

Correct Answer:

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