BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The letter ‘R’ denotes which word in the term IFRS?
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Restructuring
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Reporting
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Recognising
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Remote
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Explanation:
Detailed explanation-1: -IFRS: International Financial Reporting Standards.
Detailed explanation-2: -International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB).
Detailed explanation-3: -a statement of financial position as at the end of the period; a statement of profit and loss and other comprehensive income for the period. Other comprehensive income is those items of income and expense that are not recognised in profit or loss in accordance with IFRS Standards.
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