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Which of the following is not a valuation technique prescribed by AASB 13?
Net Loss
Occurs when total expenses exceed total revenues during a specific period of time, indicating negative profitability.
Liabilities
Financial obligations or debts owed by a company to others, which must be settled over time by transferring economic benefits.
Expenses
The costs incurred in the process of generating revenue, such as rent, utilities, and salaries.
Revenues
The income generated from normal business operations and includes discounts and deductions for returned merchandise. It serves as the starting point for determining net income.
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