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  3. * 1. in relation to measurement of the elements of

* 1. In relation to measurement of the elements of financial statements (1 Point) The...

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Accounting

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* 1. In relation to measurement of the elements of financial statements (1 Point) The Framework adopts a mixed attribute accounting model Net realisable value is the preferred basis for measurement of assets. The Framework includes detailed concepts and principles for selecting which measurement basis should be used for particular elements of financial statements. The Framework acknowledges that a variety of measurement bases are used to different degrees and in varying combinations in financial statements

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