In: Business and Management

Submitted By wowolala
Words 36897
Pages 148
IFRS questions are available at the end of this chapter.





Nature of conceptual framework.
Conceptual framework definition.
Levels of conceptual framework.
International conceptual framework.
Statements of Financial Accounting Concepts.
Decision usefulness.
Financial statement users.
Relevance and reliability.
Basic elements.
Comprehensive income.
Going concern assumption.
Economic entity assumption.
Expense recognition principle.
Realizable revenues.
Supplementary information.
Materiality factors

c d c d d d a d a a a b c c No.



GAAP defined.
Purpose of conceptual framework.
Conceptual framework.
Conceptual framework purpose.
Conceptual framework benefits.
Objectives of financial reporting.
Decision usefulness.
Objectives of financial reporting.
Financial reporting objectives.
Primary objective of financial reporting.
Primary objective of financial reporting.
Characteristic of accounting information.
Characteristic of accounting information.
Meaning of comparability.

Test Bank for Intermediate Accounting, Thirteenth Edition

2-2 a 35.

Meaning of consistency.

d c a b d a c a c b b d c d b d c a c d b b d d c c d b d b a b a d c d c b b a c c d a b a d d No.



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