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Which financial statements are required for companies

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Reference no: EM132906617

Problem 1: Which of the following financial statements are required for companies adhering to IFRS but not ASPE (private entity GAAP)?

a. Statement of comprehensive income

b. Statement of financial position

c. Statement of cash flows.

d. Statement of retained Earnings

Problem 2: Under IFRS, to qualify as a discontinued operation or disposal group, the proceeds of a sale must:

a. Be recovered through a sale transaction.

b. Be recovered continuing use.

c. Be recovered through a sale transaction or through continuing use.

d. Be made in cash.

Reference no: EM132906617

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