In Making a Judgment in Developing or Applying an Accounting

Multiple Choice

In making a judgment in developing or applying an accounting policy about whether information is relevant and reliable in the financial statements, management must refer to the following reference first:

A) the definitions in the IASB Framework;
B) requirements and guidance in Standards and Interpretations;
C) recognition criteria contained in the IASB Framework;
D) the measurement concepts for assets, liabilities, income and expenses in the IASB Framework.