Hi Tutor,
Will be be marked down in any way if I refer to the Statement of Financial Position as Balance Sheet?
And is it acceptable for us to abbreviate the financial statements when discussing them in our answers.
E.g Statement of Profit or Loss = P/L
Other Comprehensive Income = OCI
Statement of Cash Flows = SCF
Thank you
Ask the Tutor ACCA SBR
Teminology of Statements
All the above is YES. It will be fine. :)
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