Refer to M&S’s financial statements and the accompanying notes to answer the following questions.

(a) Using the notes to the consolidated financial statements, determine M&S’s revenue recognition polkks,

(b) Give two examples of where historical cost information is reported in M&S’s financial state-ments and related notes. Give two examples of the use of fair value information reported in either
the financial statements or related notes.

(C)How can we determine that the accounting principles used by M&S are prepared on a basiscco. sistent with those of last year?
(d) What is M&S’s accounting policy related to refunds and loyalty schemes? Why does M&S include the accounting for refunds and loyalty schemes in its critical accounting estimates and judgments?