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WorksheetsCONCEPTUAL FRAMEWORK
Total questions: 10
Worksheet time: 7mins
The following are the elements of financial statements except
Assets
Liabilities
Drawings
Revenue
The International accounting standards are developed by
Malaysian Institute Of Accountants
American Standards Board
International Accounting Standard Board
Indian Accounting Board
What is the latest version of conceptual framework we are following?
2008
1998
2020
2018
The following are the users of financial statements ......
Government
Employees
Customers
All the answers
Based on the original 2010 Framework, there are how many chapters in the framework?
4
3
5
2
Equity is defined as the (a) interest in the assets of the entity after deducting all its liabilities.
IAS stands for (a) .
IFRS stands for (a) .
Based on the original framework 2010, what are the underlying assumptions:
Accrual Basis
Prudence
Going Concern
Materiality
What are the basis of measurements to measure the elements of financial statement in the books?
Historical cost
Current cost
Realizable value
Present value
