Quiz Topic 2 (Conceptual Framework) arfb123
Authored by Shuhada Yaacob
Professional Development
University
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When the conceptual framework is effective for implementation?
1 Jan 2020
1 Jan 2018
1 Jan 2021
1 Jan 2011
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which financial statement that we are refering to analyse about the financial health of a company?
Statament of Financial Position
Statment of Profit n Loss
Statement of Cash FLow
Statement of Changes in Equity
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What are recognition criteria that introduced by conceptual framework?
Faithful representation and accurate
Relevance and timely
Faithful representation and relevance
Relevance and Prudence
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the below is the function of financial statement to the public?
Interested in the entity's ability to pay salaries and wages
To make macroeconomic policies and regulate activities
Interested in company's corporate social activities such as donations and provision of scholarship
Interested in the company ability to continue to operate in future (services provided)
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Why is it important for a company to have financial statements that are complete, neutral, and free from errors?
To make sure the financial statement is RELEVANT
To make sure the financial statement is FAITHFUL REPRESENT
To make sure the financial statement is TIMELINESS
To make sure the UNDERSTANDABILITY of the financial statement
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is NOT a fundamental qualitative characteristic or non from theier value of fundamental qualitative characteristic of financial information?
Relevance
Faithful representation
Comparability
Materiality
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Relevance in financial reporting means that the information must be:
Free from errors
xternal auditors
Similar to past reports
Capable of influencing users' decisions
Verified by external auditors
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