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Which of the following is the correct definition of an adjusting event after the reporting period?

A

An event that occurs between the reporting date and the date on which the financial statements

are authorised for issue that provides further evidence of conditions that existed at the reporting date

B

An event that occurs between the reporting date and the date on which the financial statements

are authorised for issue that provides evidence of conditions that arose subsequent to the

reporting date

C

An event that occurs after the date the financial statements are authorised for issue that provides further evidence of conditions that existed at the reporting date

D

An event that occurs after the date the financial statements are authorised for issue that

provides evidence of conditions that arose subsequent to the reporting date

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Chapter21Eventsafterthereportingperiod

An adjusting event after the reporting date is event that occurs between the reporting date and

the date on which the financial statements are authorised for issue that provides further evidence of conditions that existed

at the reporting date. The event must occur aft

authorised for issue.

多做几道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1 and 2

B

2 and 3

C

1 and 4

D

3 and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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