Overall Considerations Quiz

brio32
Quiz by brio32, updated more than 1 year ago
brio32
Created by brio32 over 5 years ago
10
0

Description

Quiz - Overall Considerations of IAS 1

Resource summary

Question 1

Question
The accrual basis of accounting means ....
Answer
  • accounting for transactions when the cash is received or paid out
  • accounting for transactions when they occur

Question 2

Question
What is the minimum requirement of comparative information that must be provided?
Answer
  • 1 Year
  • 2 Years
  • 3 Years

Question 3

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

Question 4

Question
Financial Statements must comply with the requirements of IFRS - what does IFRS stand for[blank_start]?[blank_end]
Answer
  • ?

Question 5

Question
Identify 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]
Answer
  • ----
  • ------
  • ---------
  • ----------
  • ------
  • ----
  • ---------
Show full summary Hide full summary

Similar

Cost measurement
shuma32
Financial Ratios
Liz Barraclough
The double entry bookkeeping system
Debs Seed
How accounting is recorded
rachaellouise18
Statement of cash flow Flash cards
badloukbek
Main purpose and element of the Statement of Cash Flow
Sophie Ann Jones
statement of cash flow - QUIZ
kandiewhitehead
AAT Business Skills - Deliver a Presentation
stephen.ainswort
How accounting is recorded?
riona.pike6669
Statements of Financial Position Qiuz
tomaswood