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The financial statements of Little Big Company shows the following balances as at and for the year ended December 31, 2019: Total assets Total liabilities
The financial statements of Little Big Company shows the following balances as at and for the year ended December 31, 2019: Total assets Total liabilities Total equity Net sales P68,363,000 47,459,000 10,904,000 287,465,000 Which of the following statements is FALSE? a. The Company has the option to present actuarial gains and losses in either profit or loss (P&L) or other comprehensive income (OCI). b. All borrowing costs of the Company should be recognized as expense when incurred. C. The Company shall measure its inventories at the lower of cost or market value. d. The Standard provides the Company with an accounting policy choice to account for income taxes using either the taxes payable method or the deferred income taxes method
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