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Answer the following questions about IFRS: 1. 2. What are the two main options for balance sheet presentation for companies following IFRS? Explain what is

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Answer the following questions about IFRS: 1. 2. What are the two main options for balance sheet presentation for companies following IFRS? Explain what is meant by the term "reverse order of liquidity." What is another name for a balance sheet that may be used by corporations reporting under IFRS? 3. . 1. Companies following IFRS may report their balance sheet using: 2

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