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Financial-Accounting-and-Reporting Free Brain Dumps

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NEW QUESTION 44
A statement of generally accepted theoretical principles which form the frame of reference for financial reporting refers to the
A. International Financial Reporting Standards.
B. Regulatory Framework.
C. Generally Accepted Accounting Principles.
D. Conceptual Framework.
Answer: D
 
NEW QUESTION 45
A company's financial report is compliant with International Financial Reporting Standards. Where in the report would an investor find the amount of money received by the company for investment activities?
A. statement of financial position
B. statement of comprehensive income
C. statement of changes in equity
D. statement of cash flows
Answer: D
 
NEW QUESTION 46
You assumed the role as the Chairperson of the Board of Directors of Daylight Ltd. As you start to write your first directors' report, which one of the following areas are you not required to include in your report?
A. Review of operations of Daylight during the year just ended and any likely developments in the future that may impact Daylight.
B. Details of any dividends paid or proposed.
C. Details regarding accounting policies pursued by Daylight in preparation of its financial statements.
D. Details regarding any significant changes to Daylight's state of affairs for the year that just ended.
Answer: C
 
NEW QUESTION 47
Which one of the following bodies makes accounting standards in Australia?
A. FRC
B. IASB
C. AASB
D. ASIC
Answer: C
 
NEW QUESTION 48
In applying accounting standards, an entity develops accounting policies that ensure that the financial statements present
A. comparable and accurate financial information to all shareholders.
B. relevant and reliable financial information.
C. understandable and clear financial information to all interested shareholders.
D. relevant and correct financial information to all interested shareholders.
Answer: B
 
NEW QUESTION 49
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Financial-Accounting-and-Reporting Free Brain Dumps
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