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In accordance...

Question

In accordance with IAS 1 Presentation of Financial Statements, which one of the following items must not be separately presented in the statement of financial position?

A

Net Assets

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B

Non financial Assets

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C

Asset revaluation surplus

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D

Issued capital and reserves

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Solution

The correct option is D Issued capital and reserves
In accordance with IAS 1 Presentation of financial statements, Issued share capital and reserves are not to be separately presented in the statement of financial position.

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