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Quiz - Overall Considerations of IAS 1

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Overall Considerations Quiz

Overall Considerations Quiz

Question 1 of 5

1

The accrual basis of accounting means ....

Select one of the following:

  • accounting for transactions when the cash is received or paid out

  • accounting for transactions when they occur

Explanation

Question 2 of 5

1

What is the minimum requirement of comparative information that must be provided?

Select one of the following:

  • 1 Year

  • 2 Years

  • 3 Years

Explanation

Question 3 of 5

1

Offsetting assets & liabilities or income & expenses is permitted by IFRS - True or False?

Select one of the following:

  • True
  • False

Explanation

Question 4 of 5

1

Fill the blank space to complete the text.

Financial Statements must comply with the requirements of IFRS - what does IFRS stand for

Explanation

Question 5 of 5

1

Fill the blank spaces to complete the text.

Identify the following 3 overall considerations:
G C
C- I
A B Of A

Explanation

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