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On 01 March, a business signs a contract to provide Dineo with permanent employment. In terms of the contract,...

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On 01 March, a business signs a contract to provide Dineo with permanent employment. In terms of the contract, Dineo will start working for the business on 1 April, and will be paid on the last day of each month. REQUIRED: Should the business recognize a liability for Dineo's April salary, and if so, when? Your answer should refer to the liability definition and recognition criteria in the Conceptual Framework. (11 marks) 2. Briefly discuss the significance of prudence, substance over form and measurement uncertainty on the usefulness of financial information. (9 marks)

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A According to the Conceptual Framework a liability is a present obligation of the entity arising from past events the settlement of which is expected View the full answer


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International Business Law And Its Environment

International Business Law And Its Environment

ISBN: 9781305972599

10th Edition

Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge

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Posted Date: February 20, 2023 04:01:39
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