The following does not constitute fair presentation and compliance with IFRS: a) an entity rectify inappropriate accounting policies by additional disclosure b) an entity did not selectively apply standards it likes c) an entity follows the recognition criteria for assets, liabilities and expenses set out in the conceptual framework d) an entity apply IFRS, with additional disclosure when necessary

The following does not constitute fair presentation and compliance with IFRS: a) an entity rectify inappropriate accounting policies by additional disclosure b) an entity did not selectively apply standards it likes c) an entity follows the recognition criteria for assets, liabilities and expenses set out in the conceptual framework d) an entity apply IFRS, with additional disclosure when necessary

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.2: Lehman Brothers Holdings, Inc.

Problem 2Q

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