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Which of These Is Not One of the Ways AASB

question 16

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Which of these is not one of the ways AASB 108 'Accounting Policies' deals with the choice of accounting methods?


Definitions:

Vertical Analysis

An approach to financial statement examination whereby each component is presented relative to a foundational number in the report.

Balance Sheet

An accounting summary that captures a company's financial holdings, debts, and stockholders' equity at a given time.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit over a specific period of time.

Vertical Analysis

A method of financial statement analysis in which each entry for each of the three major categories of accounts (asset, liabilities, and equity) in a balance sheet is represented as a proportion of the total account.

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