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Summarize the effects of the corona virus

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Reference no: EM132957170

Question - The Corona Virus outbreak has developed rapidly in 2020, with a significant number of infections. Measures taken to contain the virus have affected economic activity, which in turn had implications on financial reporting. The implications include not only the measurement of assets and liabilities, but also disclosure and possibly an entity's ability to continue as a going concern. Summarize the effects of the corona virus on the financial statements, taking into consideration the topics we have covered during this course so far.

Reference no: EM132957170

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