CFAS Chapter 2

CFAS Chapter 2

University

•

30 Qs

quiz-placeholder

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CFAS Chapter 2

CFAS Chapter 2

Assessment

Quiz

•

Business

•

University

•

Practice Problem

•

Easy

Created by

Arabella Abrasado

Used 1+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

IT IS A SUMMARY OF TERMS AND CONCEPT THAT UNDERLIE THE PREPARATION AND PRESENTATION OF FS FOR EXERNAL USERS

GAAP

CONCEPTUAL FRAMEWORK

ACCOUNTNG STANDARDS

IFRS

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

THE CONCEPTUAL FRAMEWORK IS THE UNDERLYING THEORY FOR THE _____ OF ACCOUNTING STANDARDS AND ______ OF PREVIOUSLY ISSUED ACCOUNTING STANDARDS

REVISION; DEVELOPMENT

DEVELOPMENT; REVISION

COMPARABILITY;

NEUTRALITY

DEVELOPING;

COMPARING

3.

OPEN ENDED QUESTION

5 mins • 1 pt

TH E CONCEPTUAL FRAMEWORK PROIDES THE FOUNDATION OF STANDADS THAT; (3)

Evaluate responses using AI:

OFF

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

PURPOSES OF REVISED CONCEPTUAL FRAMEWORK:

TO ASSIST ______ BASED N CONSISTENT CONCEPTS

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

THE CONCEPTUAL FRAMEWORK FOR FINNCIAL REPORTN IS COMPLETE, COMPARABILITY, AND SINGLE DOCUMENT. IT IS PROMULGATED BY THE IASB.

TRUE; FALSE

FALSE; TRUE

BOTH ARE TRUE

BOTH ARE FALSE

6.

OPEN ENDED QUESTION

5 mins • 5 pts

ACTIVE RECALL (WRITE "DONE" IF YOU ANSWERED IT, "PASS" IF NOT)

EXPLAIN THE FOUR (4) PURPOSES OF REVISED CONCEPTUAL FRAMEWORK

Evaluate responses using AI:

OFF

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

THE _____ IS AN ATTEMPT T PROVIDE OVERALL ______ FOR ACCOUNTING

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