Under IFRS, expenses must be classified on an income statement on the basis of

Name: Under IFRS, expenses must be classified on an income statement on the basis of
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Under IFRS, expenses on an income statement can be classified either by nature (types of expenses such as depreciation, purchases, employee benefits) or by function (cost of goods sold, selling, administrative). This allows for flexibility in presenting financial information in a way that is most useful for economic decision-making.

Under IFRS, Expenses Must Be Classified on an Income Statement