The accrual basis of accounting means ....

accounting for transactions when they occur

accounting for transactions when the cash is received or paid out

Test

Overall Considerations Quiz

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1The accrual basis of accounting means ....
1. Aaccounting for transactions when the cash is received or paid out
2. Baccounting for transactions when they occur
2What is the minimum requirement of comparative information that must be provided?
1. A1 Year
2. B2 Years
3. C3 Years
3Offsetting assets & liabilities or income & expenses is permitted by IFRS - True or False?
1. AVerdadero
2. BFalso
4Financial Statements must comply with the requirements of IFRS - what does IFRS stand for[blank_start]?[blank_end]
1. A?
5Identify the following 3 overall considerations:
G[blank_start]----[blank_end] C[blank_start]------[blank_end]
C[blank_start]---------[blank_end]- I[blank_start]----------[blank_end]
A[blank_start]------[blank_end] B[blank_start]----[blank_end] Of A[blank_start]---------[blank_end]
1. A----
2. B------
3. C---------
4. D----------
5. E------
6. F----
7. G---------