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Which of the following statements is true of IFRS 1? It does not permit the recognition of intangible assets in balance sheets. After its issuance

Which of the following statements is true of IFRS 1?

It does not permit the recognition of intangible assets in balance sheets.

After its issuance in July 2001, it has not been amended as yet.

It deals primarily with fair value measurement of assets.

It provides exemptions to complying with IFRS in specific areas.

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