Solved

In the Absence of an Australian Accounting Standard Specifically Applying

Question 33

True/False

In the absence of an Australian accounting standard specifically applying to a transaction,accounting policies must be selected on the basis that they provide relevant and reliable information to users of the financial report.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q6: Which of the following statements is not

Q28: Items which have only sentimental or spiritual

Q29: The statement of profit or loss and

Q31: To be recognised in a statement of

Q32: Which of the following statements is correct

Q34: The recognition criteria for assets,liabilities,revenues and expenses

Q35: Outflows outside the ordinary course of business

Q36: Information in a company's financial statements is

Q37: Which of the following statements is not

Q38: The recognition criteria for assets in the