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faithful respresentation is the overriding principle that should be followed in ones prepaparation of IFRS-based financial statement. what is it? explain it fully quoting IAS.

"faithful respresentation" is the overriding principle that should be followed in ones prepaparation of IFRS-based financial statement.

what is it? explain it fully quoting IAS. how this this principle apply in recognition of a liability?

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