5. The following are statements comparing financial statements for government entities to financial statements for profit-oriented entities following IFRS. Which of the following is true?

a) Both entities are required to prepare a statement of financial position; however, the presentation differs within the statement.

b) Both entities are required to prepare a statement of changes in net debt or net assets, and the titles of the statements are the same.

c) Both entities are required to prepare cash flow statements; however, only government entities are required to include capital transactions in their statements.

d) Both entities are required to prepare a statement of operations and a statement of financial position; however, government entities do not have to provide a statement of cash flow.

5. The following are statements comparing financial statements for government entities to financial statements for profit-oriented entities following IFRS. Which of the following is true? a) Both entities are required to prepare a statement of financial position; however, the presentation differs within the statement. b) Both entities are required to prepare a statement of changes in net debt or net assets, and the titles of the statements are the same. 0) Both entities are required to prepare cash flow statements; however, only government entities are required to include capital transactions in their statements. d) Both entities are required to prepare a statement of operations and a statement of nancial position; however, government entities do not have to provide a statement of cash flow