CFAS Chapter 2
Quiz
•
Business
•
University
•
Practice Problem
•
Easy
Arabella Abrasado
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30 questions
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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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