Question Details

International Accounting Standards Board- 



	1.	In the International Accounting Standards Board- (IASB-) Conceptual Framework, qualitative characteristics
a.	Are considered either fundamental or enhancing.
b.	Contribute to the decision-usefulness of financial reporting information.
c.	Distinguish better information from inferior information for decision-making purposes.
d.	All of the choices are correct.
	2.	In the International Accounting Standards Board- (IASB-) Conceptual Framework, an enhancing qualitative characteristic is
a.	Predictive value.
b.	Free from error.
c.	Timeliness.
d.	Confirmatory value.
	3.	In the International Accounting Standards Board- (IASB-) Conceptual Framework, an ingredient of a fundamental qualitative characteristic is
a.	Neutrality.
b.	Verifiability.
c.	Timeliness.
d.	Understandability.

	4.	In the International Accounting Standards Board- (IASB-) Conceptual Framework, a fundamental qualitative characteristic is
a.	Materiality.
b.	Faithful representation.
c.	Decision usefulness.
d.	Neutrality.

	5.	To be a faithful representation as described by the International Accounting Standards Board- (IASB-) Conceptual Framework, information must be all of the following except:
a.	Complete.
b.	Free from error.
c.	Confirmatory.
d.	Neutral.



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