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On July 1, year 2, a company decided to adopt IFRS. The
company’s first IFRS reporting period is as of and for the year
ended December 31, year 2. The company will present one
year of comparative information. What is the company’s date
of transition to IFRS?
Choice a. January 1, year 1.
Choice b. January 1, year 2.
Choice c. July 1, year 2.
Choice d. December 31, year 2.
Choice (a) is correct because the “date of transition to IFRSâ€
is defined...