Bundle set for CFAS Tests

PAS 1 Presentation of Financial Statements - correct answer Prescribes the basis for the presentation of general purpose financial statements, the guidelines for their structure, and the minimum requirements for their content to ensure comparability. Financial Statements - correct answer Are the ...

What is the general objective of financial statements? a. To provide information about economic resources of an entity, claims against the entity and changes in the economic resources and claims. b. To assess future cash flows to the entity c. To assess management stewardship of economic resour...

"I shall be straightforward and honest in all my professional and business relationships."Which ethical principle am I referring to in this statement? a. Integrity b. Objectivity c. Confidentiality d. Professional Behavior e. Professional Competence and Due Care - correct answer a Gener...

To generate general purpose financial statementw that provide information, about economic entities, that is to be used as basis for the formulation of economic decisions - correct answer Purpose of accounting in society Historical Cost - correct answer the value of the costs incurred in acquiring...

Conceptual Framework for Financial Reporting - correct answer A complete, comprehensive and single document promulgated by the International Accounting Standards Board. Conceptual Framework - correct answer A summary of the terms and concepts that underlie the preparation and presentation of fina...