Question: Identify, by indicating the relevant box in the table below, whether each of the following statements is correct or incorrect. Companies should never Correct Incorrect

Identify, by indicating the relevant box in the table below, whether each of the following statements is correct or incorrect.

Companies should never Correct Incorrect change the presentation or classification of items in their financial statements, even if there is a significant change in the nature of operations.

Companies should create Correct Incorrect provisions in times of company growth to be utilised in more difficult times, to smooth profits.

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