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The IFRS Framework states that the general-purpose financial reports cannot inclusively provide all necessary information that the user needs to make an economic decision. The

The IFRS Framework states that the general-purpose financial reports cannot inclusively provide all necessary information that the user needs to make an economic decision. The user must secure relevant information from other sources. What are the characteristics of general-purpose financial reports that can be considered to be relevant? Briefly explain each. ( 3 marks)

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