Multiple Choice
Which statement relating to comparability is true?
A) It requires an entity, as far as possible, to use the same accounting method from year to year.
B) It means a company can never change an accounting method.
C) It means all firms in the same industry should use the same accounting methods.
D) It means the same depreciation method must be employed for all classes of non-current assets.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: According to the Conceptual Framework which statement
Q3: Which of these is a fundamental purpose
Q4: A characteristic of equity as specified in
Q5: An entity where it is reasonable to
Q6: The body whose role it is to
Q8: In the current Conceptual Framework the qualitative
Q9: Which of these is not a cost
Q10: The capital maintenance concept underlying the traditional
Q11: Under the Conceptual Framework, 'increases in economic
Q12: Under IAS 18/AASB 118 interest income should