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Question 24. IAS 1 Presentation of Financial Statements normally requires that an entity presents assets and...

Question 24. IAS 1 Presentation of Financial Statements normally requires that an entity presents assets and liabilities split between those that are current and those that are non-current. Which of the following statements is true when this classification is not provided in the statement of financial position by a reporting entity?

The classification must be disclosed in the notes

Assets and liabilities should be presented broadly in line with their liquidity

Assets and liabilities should be presented in order of the magnitude of the current period balances

Assets and liabilities must be separated broadly into those related to operating, investment and financing purposes

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