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✨ EY Prep 🩷
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Accounting
🟡 Medium
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Why is cut-off particularly important for revenue at year-end?
A.
Because IFRS requires all revenue to be recognised in December
B.
Because recording next year's sales in the current year inflates profits — a common earnings management technique that auditors specifically test
C.
Because VAT rules require cut-off adjustments
D.
Because revenue cut-off only matters for listed companies