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Petra is the head of finance in a multinational company. She wishes to ensure that all accounts staff processing financial information in the accounting system use generally accepted, common terminology to minimise the possibility of misunderstanding. She has informed accounts staff that they should in the future refer to creditors as accounts payable, to debtors as accounts receivable and to assets such as buildings, plant and machinery as non-current assets.
Petra’s guidance is based on source information produced by which of the following?
IFRS Interpretations Committee
IFRS Advisory Council
My answer here is IFRC Advisory council but is it correct tho?
Where are you getting these questions? Why have you not access to the answers?