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4.Which accounting concept states that omitting or misstating this information couldinfluence users of the financial statements?AThe consistency conceptThe accruals conceptThe materiality conceptThe going concern conceptBCD
5.Which of the following accounting concepts means that similar items should receive a similaraccounting treatment?BCD
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Intermediate Accounting: Reporting and Analysis
Jones/Wahlen
6.Which of these are qualitative characteristics of financial information according to the IASB’sConceptual Framework for Financial Reporting?BCD
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7.According to the IASB Conceptual Framework which of the following is not an objective offinancial statements?BCD
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Intermediate Accounting: Reporting and Analysis
Jones/Wahlen
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2.10 The IASB's Conceptual Framework for Financial Reporting gives six qualitative characteristics of financial information. What are these six characteristics?
A Relevance, Faithful representation, Comparability, Verifiability, Timeliness and Understandability
B Accuracy, Faithful representation, Comparability, Verifiability, Timeliness and Understandability
C Relevance, Faithful representation, Consistency, Verifiability, Timeliness
and Understandability
D Relevance, Comparability, Consistency, Verifiability, Timeliness and Understandability