2 3 Answered 06 Which statement relating to reserves is not true? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer a They represent cash set aside to be drawn on in hard times b They represent items of equity other than share capital Retained earnings is a type of reserve account d When a non-current asset is revalued upwards, a revaluation reserve is created Equity Assets-bit No one format is prescribed Answered OS if expenses are classified into the groups, cost of sales, selling expenses, administrative expenses and finance expenses under US 1/AASB 101 Presentation of Financial Statements they are classified by: Select an answer and submit. For keyboard navigation, use the widown arrow key to select a Nature b Function Liquidity d Tangibility Unanswered Save 44 09 The statement concerning the concept of cash adopted by IAS 7/AASB 107 Statement of Cash Flows that is incorrect is: Select an answer and submit. For weyboard navigation use the up down arrow keys to select an