Under International Financial Reporting Standards (IFRS) notes to the financial statements
A) Must be quantifiable.
B) Must qualify as an element.
C) Amplify or explain items presented in the main body of the financial statements.
D) All of the choices are correct regarding notes to the financial statements.

Question

Quizplus · Accepted Answer

Notes to the financial statements under IFRS are meant to amplify or explain items presented in the main body of the financial statements. They provide additional detail and context to the figures presented in the financial statements, helping users to better understand the financial position, performance, and cash flows of an entity.

Under International Financial Reporting Standards (IFRS) Notes to the Financial