IFRS Requires the Use of

question 139

Multiple Choice

IFRS requires the use of

• A)the term balance sheet.
• B)the term statement of financial position.
• C)neither balance sheet nor statement of financial position, but recommends use of the term balance sheet.
• D)neither balance sheet nor statement of financial position, but recommends use of the term statement of financial position.

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Definitions:

Table of Contents

A section of a document listing the chapters, sections, and the pages on which they start.

Table of Figures

A list included in a document that organizes figures, graphs, or illustrations with corresponding page numbers for easy reference.

Memorandum Report

A memorandum report is an informal written communication, often used within organizations to report findings or updates on specific issues or tasks.

Letter Report

A type of report that is formatted as a letter, typically used for short, informal reports directed to an individual or small group.