Questão 1
Questão
Generally accepted accounting principles
Questão 2
Questão
The conceptual framework for financial reporting consists of how many levels
Questão 3
Questão
The conceptual framework for financial reporting consists of how many levels
Questão 4
Questão
Which of the following statements is true regarding the convergence project by the FASB and IASB?
Responda
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The converged framework will be a series of documents, similar to the two conceptual frameworks that presently exist.
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The IASB framework makes two assumptions
Questão 5
Questão
In the conceptual framework for financial reporting, what provides "the how" - the implementation of accounting?
Responda
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A measurement and cognition concepts such as assumptions, principles, and constraints
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qualitative characteristics of accounting information.
Questão 6
Questão
The underlying theme of the conceptual framework is decision usefulness
Questão 7
Questão
For information to be relevant, it must have both predictive value and confirmatory value?
Questão 8
Questão
Enhancing qualities of accounting information include
Questão 9
Questão
Enhancing quailities of accounting information include all of the following except
Responda
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comparability
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understandability
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neutrality
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timeliness
Questão 10
Questão
In order to be relevant, financial information must have
Questão 11
Questão
The change in net assets during a period from transactions and other events and circumstances from non-owner sources is called
Responda
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revenues
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comprehensive income
Questão 12
Questão
an increase in net assets arising from peripheral or incidental transactions is called a(n)
Questão 13
Questão
Under current GAAP, inflation is ignored in accounting due to
Questão 14
Questão
The periodicity assumption specifies that the most appropriate time periods for financial reporting are weekly, bi-monthly, and yearly
Questão 15
Questão
Depreciation and amortization policies are justifiable and appropriate because of the
Questão 16
Questão
A contract is an agreement between two parties that creates enforceable rights or obligations
Questão 17
Questão
Generally, revenues are recognized when the
Questão 18
Questão
Which of the following statements about the fair value principle is true.
Questão 19
Questão
The difficulty in cost benefit analysis is that the benefits are usually evident and measurable, while the costs are not always evident or measurable.
Questão 20
Questão
The existing conceptual frameworks underlying IFRS and GAAP are strikingly different and the FASB and ISAB will likely change many aspects of each of the frameworks in order to create a common conceptual framework.