Companies Following International Financial Reporting Standards (IFRS)must Provide the Following

question 77

Multiple Choice

Companies following international financial reporting standards (IFRS) must provide the following financial statements:

• A)Income Statement, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, Notes.
• B)Statement of Comprehensive Income, Statement of Final Position, Statement of Changes in Equity, Statement of Cash Flows, Notes.
• C)Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, Notes.
• D)Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Cash Flow, Statement of Owner's Equity, Notes.

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Definitions:

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity available to run its operations.

Long-Term Debt

Financial obligations of a company that are due more than one year in the future.

Incremental Value

The additional value that is gained from making an investment or conducting a project, compared to doing nothing.

Net Present Value

A financial analysis method used to evaluate the profitability of an investment or project, assessing the value of all future cash flows, both incoming and outgoing.