IFRS requires that companies present
A)a complete set of financial statement, including comparative information, annually.
B)only a statement of financial position, including comparative information, annually.
C)only an income statement, including comparative information, annually.
D)only a statement of changes in cash flows, including comparative information, annually.

Question

Quizplus · Accepted Answer

The International Financial Reporting Standards (IFRS) require companies to present a complete set of financial statements annually, including comparative information for the previous year. This set of financial statements includes a statement of financial position (balance sheet), income statement (profit/loss statement), statement of changes in equity, and statement of cash flows.

IFRS Requires That Companies Present