快速查题-ACCA英国注册会计师试题

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

use?

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

use?

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

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

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?

Which ONE of the following statements describes faithful representation, a qualitative characteristic of faithful representation?

Listed below are some comments on accounting concepts.1 Financial statements always treat the business as a separate

entity.2 Materiality means that only items having a physical existence may be recognised as assets.3 Provisions are

estimates and therefore can be altered to make the financial results of a business more attractive to investors.Which, if any,

of these comments is correct, according to the IASB's Conceptual Framework for Financial Reporting?

Which of the following statements about accounting concepts and the characteristics of financialinformation are correct?

1 The concept of accruals requires transactions to be reflected in the financial statements once the cash or its equivalent is

received or paid.

2 Information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of

the financial statements.

3 Based on faithful representation, it may sometimes be necessary to exclude material information from financial statements

due to difficulties establishing an accurate figure.

According to IAS 38 Intangible assets, which of the following statements about research anddevelopment expenditure are

correct?

1 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as

incurred.

2 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether

there will be adequate finance available to complete the project.

3 Development expenditure recognised as an asset must be amortised over a period not exceeding five years.

According to IAS 38 Intangible assets, which of the following statements about research and development expenditure are

correct?

1 If certain conditions are met, an entity may decide to capitalise development expenditure.

2 Research expenditure, other than capital expenditure on research facilities, must be written off as incurred.

3 Capitalised development expenditure must be amortised over a period not exceeding 5 years.

4 Capitalised development expenditure must be disclosed in the statement of financial position under intangible non-current

assets.