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List the four qualitative characteristics of financial reports (under IFRS) and discuss two of them in...

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Advance Math

  1. List the four qualitative characteristics of financial reports(under IFRS) and discuss two of them in detail. (Chapter 3, Section5.2)

  2. What is the “Going Concern” assumption and why is it in animportant underlying assumption in financial statements? (Chapter3, Section 5.4.1).

  3. What is the “percentage-of- completion” method for revenuerecognition and when can it be used? Give an example of how thismethod is used. (Chapter 4, Section 3.2.1)

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