A public company following IFRS is entitled to set aside the cost principle.

Name: A public company following IFRS is entitled to set aside the cost principle.
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Question

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IFRS requires companies to follow the cost principle, which means that assets should be recorded at their historical cost. However, there are some exceptions to this rule, such as when an asset is revalued or when a company is using fair value accounting.

A Public Company Following IFRS Is Entitled to Set Aside