AASB 101 Allows Preparers Two Options in the Classification of Items

question 9

Essay

AASB 101 allows preparers two options in the classification of items for the statement of comprehensive income statements.Discuss.

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Definitions:

FILE Fp

A pointer in C programming language that refers to an external file, used for file operations like reading from or writing to files.

File Stream

An abstraction for reading from or writing to files on the disk.

Physical Communication

Pertains to the actual hardware and physical means used for transmitting data between devices or components.

File Open Function

A function used in programming languages to open a file and prepare it for reading, writing, or both.