Which of the following must an entity do when preparing the IFRS opening balance sheet, except where IFRS 1 gives an exception or an exemption?a. Not recognize items as assets and liabilities if IFRS does not permit such recognition. b. Reclassify items that it recognized under previous GAAP as one type of asset, liability or component of equity that are a different type under IFRS. c. Apply IFRS in measuring all recognized assets and liabilities. d. All of the above.

Read the scenario. alfonso is 19 years old and has a high school diploma. recently, he was promoted to assistant manager at the fast-food restaurant where he has worked since the age of sixteen. his dream is to become the restaurant’s manager. what is his best option for achieving his dream? he should find another job and work his way up to a higher position. he should hope that his manager transfers to another location and that he is his replacement. he should attend classes at the local college to receive training in management. he should work hard, work longer hours, and remain assistant manager.