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Hello Sir, For PYQ March/June 2019 Q4 (a)(i) examiner answer for the last paragraph:
1.What is meaning of “cost-benefit criteria will be mentioned as a general statement in the revised Conceptual Framework to explain that cost constrains recognition decisions and the recognition of an element must be sufficient to justify the costs of providing that information”?
2. So if the cost of recognition of the asset and liability exceed the benefit for providing that information , will it still recognise?
Thank you.
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