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Which financial statements presented by an entity

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Reference no: EM132776731

Problem 1: Financial statements presented by an entity in the current year would qualify as first PFRS financial statements under the following conditions except:

a. When an entity prepared financial statements in the previous period under PFRS but the financial statements were for internal use only

b. When the number of years of comparative information that an entity decides to present together with the financial statements in the year of adoption using PFRS

c. When an entity did not present financial statements in the previous period

d. When an entity prepared financial statements in the previous period under PFRS for consolidation purposes without preparing a complete set of financial statements

Reference no: EM132776731

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