According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept states that omitting or misstating this information could influence users of the financial statements?
Sales revenue should be recognised when goods and services have been supplied; costs are incurred when goods and
services have been received.Which accounting concept governs the above?
What are the problems of only using financial performance indicators for measuring the performance of a company?