Chapter3-6试题及答案_Chapter3-6考试练习题-猎鹰试题网

The lASB's Conceptual Fram are these six characteristics?

A

Relevance, Faithful representation, Comparability, Verifiability, Timeliness and Understandability

B

Accuracy, Faithful representation, Comparability, Verifiability, Timeliness and Understandability

C

Relevance, Faithful representation, Consistency, Verifiability, Timeliness and Understandability

D

Relevance, Comparability, Consistency, Verifiability, Timeliness and Understandability

Which one of the following is not a qualitative characteristic of financial information according to the Conceptual framework for Financial Reporting?

A

Faithful representation

B

Relevance

C

Timeliness

D

Accruals

According to the IASB Conceptual framework which of the following is not an objective of financial statements?

A

Providing information regarding the financial position of a business

B

Providing information regarding the performance of a business

C

Enabling users to assess the performance of management to aid decision making

D

Providing reliable investment advice

Which of the following statements about accounting concepts and policies is/are correct?1 Companies should never change

the presentation or classification of items in their financial statements, even if there is a significant change in the nature of

operations.2 Companies should create provisions in times of company growth to be utilised in more difficulttimes, to smooth

profits

A

1 only

B

2 only

C

1 and 2

D

Both are incorrect

Which one of the following can the accounting equation can be rewritten as?

A

Assets + profit - drawings - liabilities = closing capital

B

Assets - liabilities - drawings = opening capital + profit

C

Assets - liabilities - opening capital + drawings = profit

D

Assets - profit - drawings = closing capital - liabilities

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