Some qualities of useful information in financial statements are:(1) Prudence(2) Neutrality(3) Consistency (4) Substance over formWhich of these qualities contribute to the attribute of reliability?
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1 .Personality and cognitive tests are more reliable predictors of job performance than interviews.Is this statement True or False?
Y 对 N 错
2 .What is the principal purpose of the IASB’s “Framework for the Preparation and Presentation of Financial Statements”?
A To assist users in interpreting information contained in financial statements B To assist preparers of financial statements in applying standards C To assist national standard setting bodies in developing national standards D To assist the Board of the IASB in developing and reviewing standards
3 .Which of the following statements concerning the IASB’s “Framework” is correct?
A It is an International Accounting Standard B It does not define elements of financial statements C It specifies criteria for recognising items in financial statements D It specifies standards for measurement and disclosure of items in financial statements
4 .What are the assumptions which underlie the preparation of general purpose financial statements?
A Accrual basis and prudence concept B Going concern and materiality C Accrual basis and going concern D Prudence concept and materiality
5 .Which of the following are the qualitative characteristics that make information provided in financial statements useful to users?
A Comparability, relevance, reliability, understandability B Consistency, materiality, neutrality, understandability C Comparability, materiality, reliability, completeness D Completeness, relevance, neutrality, prudence
7 .Which one of the following statements concerning the recognition of an item in financial statements is correct?
A An item must be recognised if it meets the definition of an element B An item can be recognised even if can only be depicted in words C Disclosure in the notes may be used as an alternative to recognition D An item can only be recognised if its value can be measured reliably
8 .In which one of following circumstance can “fair presentation” in accordance with IFRS be presumed?
A the financial statements comply with IFRS B IFRS has been appropriately applied with additional disclosures where necessary C IFRS has been applied in so far that it does not conflict with local GAAP D the financial statements provide relevant, reliable, comparable and understandable information
9 .The management of ZiZi intends to liquidate the company in the last quarter of 2012.On what basis should the financial statements for the year ended 30 June 2011 be prepared?
A Going concern with no specific disclosure of material uncertainties B Going concern with specific disclosure of material uncertainties C On a basis other than going concern with disclosure of that fact D On a basis other than going concern with disclosure of that fact and reasons
10 .Which of the following statements is correct?
A Materiality depends on the size of an omission or misstatement B Material items may be aggregated with similar items in the financial statements C Immaterial items need not be presented separately D Immaterial items can be aggregated in the financial statements but not in the notes
