General and administrative expenses must be disclosed in the statement of financial position according to para 44.

Name: General and administrative expenses must be disclosed in the statement of financial position according to para 44.
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Question

Quizplus · Accepted Answer

General and administrative expenses are typically disclosed in the income statement, not the statement of financial position. The statement of financial position (balance sheet) shows the company's assets, liabilities, and equity, not its expenses.

General and Administrative Expenses Must Be Disclosed in the Statement