Which statement is incorrect? a. The systematic manner of presentation of Notes to F/S is mandatory, as far as practicable.T b. The first item to be presented in the Notes to F/S is the statement of compliance with PFRS. c. The cross reference between each line item in the F/S and any related information disclosed in the Notes to F/S is mandatory. d. None of the above
Which statement is incorrect?
a. The systematic manner of presentation of Notes to F/S is mandatory, as far as practicable.T
b. The first item to be presented in the Notes to F/S is the statement of compliance with PFRS.
c. The cross reference between each line item in the F/S and any related information disclosed in the Notes to F/S is mandatory.
d. None of the above
Which statement is incorrect?
a. Revenues are income that arises from the ordinary course of business activities.
b. Revenues may arise from decrease in liability from primary operations.
c. Generally, revenue is recognized when the earning process is complete and a valid promise of payment has been received.
d. Revenues arise from sale of goods or services, use of entity resources and disposal of noncurrent assets of the businesses.
e. None of the above
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