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Which of the following disclosures are required under AASB 118?
I - Total income, allocated between revenue and other gains.
II - The accounting policies adopted for revenue recognition.
III - The amount of each significant category of revenue recognised during the period.
IV - The amount of revenue arising from exchanges of goods and services.
Free Market
An economic system where prices for goods and services are determined by open competition among businesses, without government intervention.
Radio Pirates
Individuals or organizations that operate a radio station without a legal license, often broadcasting content not covered by mainstream outlets.
Federal Licenses
Official permissions granted by the federal government to individuals or organizations, permitting them to carry out specific activities.
Free Market
An economic system where prices for goods and services are determined by the open market and consumers, in contrast to a controlled or regulated market system.
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