Exam 6: Normative Theories of Accountingthe Case of Conceptual Framework Projects

Which of the following is a qualitative characteristic of financial information in general purpose financial reports,if they are to be useful?

Which of the following describes the accounting process?

According to the IASB Exposure Draft,a Conceptual Framework:

In Australia,according to SAC 2 'Objective of General-Purpose Financial Reporting',the primary user groups(s)of general purpose financial reports are:

Which of the following is not a perceived advantage in developing a conceptual framework project?

What is the purpose of developing a conceptual framework?

Which of the following will satisfy the definition of a constructive liability,as outlined in the IASB Framework?

Which of the following is not a characteristic of an asset,according to the IASB Framework?

Since 1 January 2005,the Australian Accounting Standards Board's conceptual framework consists of:

Which characteristic of information,when omitted or mis-stated,could influence economic decisions taken by users on the basis of financial statements?

Which of the following is a characteristic of relevance?

Which of the following statements is incorrect regarding the current work of IASB and FASB on the Conceptual framework project?

Which of the following is true in relation to expenses,according to the IASB Framework?

Which of the following appears to be most influential in developing the objectives of financial reporting and a number of other concepts that have been used as a basis for most conceptual framework projects?

Over time,a number of objectives have been attributed to information provided within financial statements.Which of the following is not an objective of financial statements?

What is the definition of the 'conceptual framework'?

Which of the following represents a contradiction,rather than a trade-off that needs to be balanced?

The components,or building blocks,in the IASB Framework for the Preparation and Presentation of Financial Statements do not include:

Which of the following was particularly concerned with addressing the rights of the community,in terms of access to financial information about entities?

Which of the following measurement methods is not explicitly recognised in the IASB Framework,although it is recognised in the FASB Framework?