Explain howyou would account for the following
items/situations,justifying answers by reference to the
conceptual frameworks defintion and rcognition criteria.
a)A trinket of sentimental value only
b)You are the guarantor for your friends bank loan
i) You have no reason to belive that your friend will
default on the loan
ii) As your friend is in serious financial
dificulties,you think it is likely that he will default on
the loan
c)You receive 1000 shares in X Ltd,trading at $4 each,as a
gift from a grateful client.
d)The panoramic view of the coast from your cafes
windows,which you are convinced attracts customers to your
cafe
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