BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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THE LINE ITEMS IN THE STATEMENT OF FINANCIAL POSITION OF AN SME(SMALL MEDIUM ENTERPRISE) INCLUDED ALL, EXCEPT
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DEFERRED TAX LIABILITIES
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FINANCIAL LIABILITIES
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TOTAL LIABILITIES IN A DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE
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TRADE AND OTHER PAYABLES
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Explanation:
Detailed explanation-1: -Section 3 Financial Statement Presentation Statement of financial position. Either a single statement of comprehensive income, or two statements: an income statement and a statement of comprehensive income. Statement of changes in equity. Statement of cash flows.
Detailed explanation-2: -The liabilities of a disposal group classified as held for sale shall be presented separately from other liabilities in the statement of financial position. Those assets and liabilities shall not be offset and presented as a single amount.
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