Acccob2 cash - Study guides, Class notes & Summaries

ACCCOB2: CASH AND CASH CONTROLS EXAM QUESTIONS WITH ANSWERS...

ACCCOB2 Reviewer Study Guide Accounting - Answer-the process of identifying, measuring, and communicating economic information to permit informed judgment and decisions by users of information. Identifying - Answer-the process of analyzing events and transactions to determine whether or not they will be recognized. only accountable events are recognized. Measuring - Answer-involves assigning numbers, normally in monetary forms, to the economic transactions or events. Communicating - Answe...

ACCCOB2 Unit 1 Exam Study Guide | Updated relevance - Answer-a fundamental characteristic of a financial information which enables it to make a difference in the decisions made by users materiality - Answer-omission of such information could influence decisions that users make on the basis of financial information about a specific reporting entity faithful representation - Answer-a fundamental qualitative characteristic of a financial information which states that the information should b...

acccob2 Ex 1-3, Ex 1-4 Study Guide with Complete Solutions True - Answer-The Conceptual Framework is not a PFRS and hence does not define standards for any particular measurement or disclosure issue. True - Answer-The objective of general-purpose financial reporting is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders, and other creditors in making decisions about providing resources to the entity. False - Answer-Financ...