'Recognised' in Relation to Asset Disclosure May Be Defined as Meaning

question 42

Multiple Choice

'Recognised' in relation to asset disclosure may be defined as meaning:

• A) disclosed in the notes to the accounts but not reported on, or incorporated in amounts reported on the face of the statement of financial position .
• B) classified according to nature or type within liquidity categories based on the operating cycle of the reporting entity.
• C) reported on, or incorporated in amounts reported on, the face of the statement of financial position .
• D) familiar, of well-known usefulness.

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Definitions:

Generalized Other

A concept in sociology that represents the internalized attitude of the broader community, which individuals consider in their behavior and social interactions.

Regular Basis

A recurring or habitual schedule or frequency at which an action or event occurs.

Phased Retirement

Describes a work arrangement allowing employees to gradually reduce their working hours as they approach retirement, often to balance personal needs and organizational demands.

Old Age Security (OAS)

a government-sponsored pension plan designed to provide a monthly income to senior citizens, aiming to ensure they can maintain a basic standard of living in retirement.