FR - Conceptual & Regulatory Framework
Assessment
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minguo 95
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Other
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University
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18 plays
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Hard
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20 questions
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1.
MULTIPLE CHOICE
1 min • 1 pt
Which of the following is NOT the purpose of the IASB’s Conceptual Framework?
2.
MULTIPLE CHOICE
1 min • 1 pt
Under the current structure of regulatory bodies, which of the bodies listed below acts as the overall supervisory body?
3.
MULTIPLE CHOICE
1 min • 1 pt
Which of the bodies listed below is responsible for the approval of Draft Interpretations?
4.
MULTIPLE CHOICE
1 min • 1 pt
Which of the following best describes the role of the IFRS Advisory Council?
5.
FILL IN THE BLANK
1 min • 1 pt
The two main approaches to accounting are ________________
6.
MULTIPLE CHOICE
1 min • 1 pt
According to the IASB Conceptual Framework, the objective of financial reporting is to?
7.
MULTIPLE CHOICE
1 min • 1 pt
Under the Conceptual Framework for Financial Reporting, which of the following is the ‘threshold quality’ of useful information?
8.
MULTIPLE CHOICE
1 min • 1 pt
According to The Conceptual Framework for Financial Reporting, which of the following is the underlying assumption of a set of financial statements?
9.
MULTIPLE CHOICE
1 min • 1 pt
The Board's Framework identifies qualitative characteristics.
(i) Relevance
(ii) Comparability
(iii) Verifiability
(iv) Understandability
(v) Faithful representation
Which of the above are not listed as enhancing characteristics?
10.
MULTIPLE CHOICE
1 min • 1 pt
Information that has ________ is said to have relevance.
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