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Question 11 of 74 1 Points On the statement of financial position the current portion of the long-term loan will be classified as an assel? True False Question 12 of 74 1 Points The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue is called the concern or continuing-concem principle. Question 13 of 74 1 Points statements include the statement of financial position statement of profit or loss and other comprehensive income statement of changes in equity and the statement of cash flows Question 14 of 74 1 Points The statement of reports the changes in equity over the reporting period