Question: Please answer the questions 8.10, 8.11 and 8.12 with your detailed explanations, please IFRS Accounting Standards (International), it's much appreciated! 8.10 Which one of the

Please answer the questions 8.10, 8.11 and 8.12 with your detailed explanations, please IFRS Accounting Standards (International), it's much appreciated!

Please answer the questions 8.10, 8.11 and 8.12 with your detailed explanations,

8.10 Which one of the following assets may be classified as a non-current asset in the financial statements of a business? A tax refund due next year A motor vehicle held for resale A computer used in the office Cleaning products used to clean the office floors (2 marks) 8.11 Which of the following items should be included in current assets? (1) Assets which are not intended to be converted into cash (2) Assets which will be converted into cash in the long term (3) Assets which will be converted into cash in the near future 1 only 2 only 3 only 2 and 3 (2 marks) 8.12 Which of the following statements describes current assets? Assets which are currently located on the business premises Assets which are used to conduct the organisation's current business Assets which are expected to be converted into cash in the short-term Assets which are not expected to be converted into cash in the short-term

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