Under IFRS,Cost of Goods Sold represents a functional expense which explains the purpose of the cost incurred.

Name: Under IFRS,Cost of Goods Sold represents a functional expense which explains the purpose of the cost incurred.
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This statement is true. Under IFRS, Cost of Goods Sold (COGS) is considered a functional expense as it is directly linked to the production or sale of goods. It represents the cost incurred in the production of goods that have been sold during a period.

Under IFRS,Cost of Goods Sold Represents a Functional Expense Which