Cfas exam - Study guides, Class notes & Summaries

ACCOUNTING CFAS EXAM QUESTIONS AND ANSWERS 2022 COMPLETE SOLUTION

ACCOUNTING CFAS EXAM QUESTIONS AND ANSWERS 2022 COMPLETE SOLUTION

ACCOUNTING CFAS EXAM QUESTIONS AND ANSWERS 2022 COMPLETE SOLUTION

Properties or resources owned by the business Correct Answer: Assets Primary reason for preparing financial reports in accounting Correct Answer: Decision making The ability of the business to pay its short term obligations Correct Answer: Liquidity Primary source of capital of a business Correct Answer: Owner's Investment Activities taking place in business which are measured and recorded in terms of money. Correct Answer: Business Transactions Accounting report that shows ...

Which statement is incorrect regarding the Conceptual Framework for Financial Reporting? A. Describes the objective of, and the concepts for, general purpose financial reporting B. Serves as a guide in developing future PFRSs and as a guide to resolving accounting issues that are not addressed directly in existing PFRSs C. Is not a PFRS and hence does not define standards for any particular measurement or disclosure nature D. Prevails in cases where there is conflict with a PFRS Correc...

CFAS PAS 1 Presentation of Financial Statements (Millan&Valix) Exam Question And Answers 2024

"I shall be straightforward and honest in all my professional and business relationships."Which ethical principle am I referring to in this statement? a. Integrity b. Objectivity c. Confidentiality d. Professional Behavior e. Professional Competence and Due Care - a General-purpose financial reports are not designed to show the value of a reporting entity. True False - TRUE Which of the following is not included in the scope of the IASB conceptual framework? a. Qualitative character...

NCTJ Preliminary Law Exam (Key Words) Exam 2024 Absolute Discharge - CORRECT ANSWER-A decision by a court after conviction that the offender should not be punished for the crime Affidavit - CORRECT ANSWER-A statement given on oath to be used in court procedings Alibi - CORRECT ANSWER-A claim by an accused that he/she can show he/she was not at the scene when a crime was committed and is therefore innocent Allocation - CORRECT ANSWER-The procedure at magistrates' courts to determine ...

"I shall be straightforward and honest in all my professional and business relationships."Which ethical principle am I referring to in this statement? a. Integrity b. Objectivity c. Confidentiality d. Professional Behavior e. Professional Competence and Due Care - a General-purpose financial reports are not designed to show the value of a reporting entity. True False - TRUE Which of the following is not included in the scope of the IASB conceptual framework? a. Qualitative character...