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Explanation

IAS (International Accounting Standards):

• These are older accounting standards that were issued before IFRS.
• Still valid unless replaced by IFRS.

IFRS (International Financial Reporting Standards):

• Issued by the IASB (International Accounting Standards Board).
• Modern framework used globally for preparing financial statements.

ISA (International Standards on Auditing):

• These are used by auditors, not for preparing financial statements but for auditing them.

Explanation

The International Federation of Accountants (IFAC)

The International Federation of Accountants is the global organization for the accountancy profession

IFAC Founded: October 7, 1977

IFAC Membership: 180

IFAC Headquarters: New York City, United States

ND5-07-2023

Explanation

Pakistan conducted a series of nuclear tests on 28 May 1998 at the Chagai test site, Balochistan.

5 Nuclear tests were conducted by Pakistan at 15:15 hrs PST on 28 May 1998.

The tests were performed at Ras Koh Hills in the Chagai District of Balochistan Province.

Chagai-I was Pakistan's first public test of nuclear weapons.

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nd9-2-2023

Explanation

International Financial Reporting Standards are a set of accounting rules for public companies with the goal of making company financial statements around the world.

Explanation

Pakistan conducted a series of nuclear tests on 28 May 1998 at the Chagai test site, in Balochistan.

5 Nuclear tests were conducted by Pakistan at 15:15 hrs PST on 28 May 1998.

The tests were performed at Ras Koh Hills in the Chagai District of Balochistan Province.

Chagai-I was Pakistan's first public test of nuclear weapons.

while 

Chagai-II is the codename assigned to the second atomic test conducted by Pakistan, carried out on 30 May 1998

These tests followed the Chagai-I series

The test site was Kharan Desert, Pakistan

Explanation

Salvage value is sometimes referred to as disposal value, residual value, terminal value, or scrap value.

Explanation

Deflation is the general decline of the price level of goods and services.

Deflation means افراط زّر کی کمی

Explanation

Per capita income is obtained by dividing national income by the total population of the country.

Explanation

• Modaraba company is a unique and prime mode of non-interest Islamic financial system.
• It is a form of financial contract in which one party, the investor (Rab-ul-mal) entrusts money to another party, the financial manager (Mudarib) for the purpose of carrying out a business (Modaraba).

Explanation

Current Asset includes cash, cash equivalents, accounts.

Patent is a noncurrent asset.