Multiple Choice
What was the main recommendation of SAP 1 Current Cost Accounting,issued in Australia in November 1983?
A) That companies disclosed information on profit from continuing operations on a current cost basis for the current financial year
B) That companies are not required to report historical cost information if they have disclosed current cost information
C) That companies presented supplementary current cost accounting statements in addition to historical cost financial statements
D) That companies used current cost for the main financial statements and historical cost as supplementary data
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Are holding gains a component of accounting
Q4: Exit price accounting has been criticised for
Q5: Which of these best describes the second
Q6: The statement that is true with respect
Q7: Exit price accounting can be seen as
Q9: The three major income and capital measurement
Q10: The argument that is descriptive of exit
Q11: Which measurement was agreed as the best
Q12: Current cost profit is defined as the
Q13: The difference between the physical capital concept