Choose the letter that corresponds to the answers. relevant to the understanding of the entity's financial6.classification of items in the financial statements fromAn entity shall retain the presentation andone period to the next unless a PFRS/IFRS requires aWhen it is impracticable to reclassify comparativeStatement 1:one period to the next unless a PFRS/IFRS requireschange in presentation.Statement 2:amounts, an entity shall simply disclose theinformation in the notes.а.Only the first statement is correct.b. Only the second statement is correct.с.Both statements are correct.d. Neither of the statements is correct.7. : Statement 1:When an entity presents current and non-currentassets, and current and non-current liabilities, as'aseparate classification in its statement of financialposition, it shall classify deferred tax assets as currentassets.An entity does not have to present additional lineitems, headings, and subtotals in the statementof financial position since such presentation is no!Statement 2:position.а.Only the first statement is correct.b.Only the second statement is correct.(C.Both statenments are correct.d.Neither of the statements is correct.

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classification of items in the financial statements E one period to the next unless a PFRS/IFRS requi Statement 1: An entity shall retain the presentation change in presentation. Statement 2: When it is impracticable to reclassify compara amounts, an 'entity shall simply disclose information in the notes. a. Only the first statement is correct. ctatoment is correct 6.

classification of items in the financial statements E one period to the next unless a PFRS/IFRS requi Statement 1: An entity shall retain the presentation change in presentation. Statement 2: When it is impracticable to reclassify compara amounts, an 'entity shall simply disclose information in the notes. a. Only the first statement is correct. ctatoment is correct 6.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter18: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 5P

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