Question
On June 1, 2020, a cheque in the amount of $6,000 was issued for a two-year subscription to online advertising starting from June 1, 2020.
On June 1, 2020, a cheque in the amount of $6,000 was issued for a two-year subscription to online advertising starting from June 1, 2020. The entire amount of $6,000 was debited to advertising expense on June 1, 2020.
Based on IFRS framework, explain TWO fundamental characteristics and ONE enhancing characteristic that will not help meet the users' information needs.
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
15th Edition
978-1337398169
