The alternative liquidity based classification of assets and liabilities can only be adopted by financial institutions such as banks, building societies and insurance companies.

Question

Quizplus · Accepted Answer

The alternative liquidity based classification of assets and liabilities is not exclusive to financial institutions; it can be adopted by any entity that finds it provides more relevant and reliable information, according to accounting standards like IFRS.

The Alternative Liquidity Based Classification of Assets and Liabilities Can