題目

Which of the following statements about accounting concepts and the characteristics of financialinformation are correct?

1 The concept of accruals requires transactions to be reflected in the financial statements once the cash or its equivalent is

received or paid.

2 Information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of

the financial statements.

3 Based on faithful representation, it may sometimes be necessary to exclude material information from financial statements

due to difficulties establishing an accurate figure.

A

1?only

B

1?and 2?only

C

2?only

D

2?and 3?only

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Chapter3財(cái)務(wù)信息的定性特征

Statement (2) only is correct. Information is material if its omission or misstatement couldinfluence the economic decisions of users taken on the basis of the financial statements.

Statement 1 describes the opposite of the accruals concept. Statement 3 is also incorrect, faithful representation does not

prevent estimates made.

多做幾道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

?The accruals concept

C

The going concern concept

D

?The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

?The going concern concept

D

The business entity concept

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

A

1?and?2

B

2?and?3

C

?1?and?4

D

3?and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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