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3 Cards in this Set
- Front
- Back
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According to the IASB Framework, the two criteria
required for incorporating items into the income statement or statement of financial position are that |
It meets the definition of an element and can be measured reliably.
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Under IFRS, which of the following is the first step within the hierarchy of guidance to which management refers, and whose applicability it considers, when selecting accounting policies?
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Apply a standard from IFRS if it specifically relates to the transaction, other event, or condition.
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123
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456
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