ST AKM 1 KP Y

Which is not the characteristic of faithful representation of accounting information?

• Completeness

• Predictive Value

• Neutrality

• Free from Error

The primary users of general purpose financial reports are :

• Management and Creditors

• 
  Management and Government

• Employees and Customers

• Investors and Lenders

Bubu Co. report Rp 25 million for sales when it only had Rp 15 million of actual sales. Which is the qualities of useful information that Bubu Co. have violated?

• Comparability

• 
  Faithful Representation

• 
  Relevance

• Consistency

IFRS stands for…

• 
  Interim Finance & reporting standards

• 
  Internal Financial Reporting Standards

• 
  International Financial Reporting Standards

• 
  International Financial Recognition Standards

According to the principles of accounting, when does the company recognize its revenue?

• when the company already fullfill its obligation

• when the company received the order

• when the company receive the payment

• 
  when the company have record the payment from the buyer

Company B rent the building of Company A from July 1 to October 1. Company A receive the payment for rent on June 30, When will company A recognize its full revenue?

• 
  June 30

• October 1

• 
  July 1

• No answer is correct

Company B rent the building of Company A from July 1 to October 1. Company A receive the payment for rent on June 30, What will company A record on June 30? Which assumption does this relate to?

• 
  Unearned revenue (db) Rent Revenue (cr); Revenue Recognition

• Cash (db) Rent revenue (cr); Revenue Recognition

• 
  Rent expense(db) Cash (cr); Expense recognition

• 
  Cash (db) Unearned revenue (cr); Revenue recognition

The enhancing qualitative characteristics of financial information include:

• Relevance and Faithful Representation

• 
  Comparability and understandability

• Free from Error and Materiality

• Periodicity and Neutrality

According to the principles of accounting, when does the company recognize its expense?

• 
  when the company pays for the expense

• 
  when the company have received the benefit from the transaction

• when the company issued bond payable

• when the company order goods/services

Each company have separate financial report is….

• 
  Independency

• Economic entity

• Periodicity

• 
  Going concern