Which accounting concept states that omitting or misstating this information could influence users of the financial statements?
A、The consistency concept
B、The accruals concept
C、The materiality concept
D、The going concern concept
A、The consistency concept
B、The accruals concept
C、The materiality concept
D、The going concern concept
A、The substance over form concept
B、The materiality concept
C、The accruals concept
D、The duality concept
A、1 and 2
B、2 and 3
C、1 and 4
D、3 and 4
Listed below are some comments on accounting concepts. 1 In achieving a balance between concepts, the most important consideration is satisfying as far as possible the economic decision-making needs of users. 2 Materiality means that only items having a physical existence may be recognised as assets. 3 The substance over form convention means that the legal form of a transaction must always be shown in financial statements, even if this differs from the commercial effect. Which, if any, of these comments is correct, according to the lASB's Conceptual Framework for Financial Reporting?
A、1 only
B、2 only
C、3 only
D、None of them
A、Going concern
B、Accruals
C、Substance over form
D、Consistency
A、Faithful representation
B、Relevance
C、Timeliness
D、Accruals
A、Unchanged Unchanged Unchanged
B、Unchanged Reduced Reduced
C、Reduced Unchanged Unchanged
D、Reduced Unchanged Reduced
A、Dr Cr $ $ Inventory account 800 Purchases account 800
B、Dr Cr $ $ Drawings account 800 Purchases account 800
C、Dr Cr $ $ Sales account 1,600 Drawings account 1,600
D、Dr Cr $ $ Drawings account 800 Sales account 800
A、1 and 2 only
B、1, 2 and 3 only
C、1 only
D、All of them
A、Dr Receivables $150 Dr Sales Returns $300 Cr Sales $150 Cr Cash $300
B、Dr Sales $150 Dr Cash $300 Cr Receivables $150 Cr Sales Returns $300
C、Dr Receivables $450 Cr Sales $150 Cr Sales Returns $300
D、Dr Sales Returns $300 Dr Sales $150 Cr Cash $450
A、$73,372
B、$69,972
C、$98,372
D、$62,772
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