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Which of the following is true regarding rural areas?
Non-current Asset
Assets not expected to be converted into cash, consumed, or utilized within one year of the balance sheet date, including property, plant, and equipment.
IFRS
International Financial Reporting Standards, a set of global accounting standards developed by the International Accounting Standards Board.
Contingent Liabilities
Potential liabilities that may occur depending on the outcome of a future event.
Contingency
An uncertain event or condition that can have a positive or negative impact on a company's financial position if it occurs.
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