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Which one of the following statements correctly identifies a valid disadvantage to users of financial statements of the sta

tement of cash flows?

A

Under IAS 7 Statement of cash flows, an entity may use any format for their statement.

B

There is an opportunity to reclassify some cash outflows that might have been reported in the

operating section as investing cash outflows.

C

Under IAS 7 Statement of cash flows the statement of cash flows may cover a different period of time to the other financial statements.

D

Cash flow figures are more open to manipulation than the profit figure.

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Chapter22Statementsofcashflows

There is an opportunity to reclassify some cash outflows that might have been reported in the operating section as cash outflows. For example, questionable capitalisation of expenses.

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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