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Basic Question 6 of 6
A company has receivables resulting from trades with a client. The client has already filed a petition for insolvency. According to IFRS, the receivables ______ be recognized on the balance sheet.
B. should not
A. should
B. should not
User Contributed Comments 4
| User | Comment |
|---|---|
| johntan1979 | Going concern principle |
| Shaan23 | What about US GAAP? What happens there? |
| Freddie33 | Impairment loss? What's that? |
| walterli | Allowance for bad debts |
Your review questions and global ranking system were so helpful.
Lina
Learning Outcome Statements
describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards
CFA® 2025 Level I Curriculum, Volume 2, Module 1.