
Question Chapter 18 & 19 Part 1
Quiz
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Other
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Professional Development
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Hard
Rabie Kaakaty
Used 6+ times
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17 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following is not required to be presented as minimum Information on the face of a financial position?
investment property
Due to banks
Contingent liabilities
Accounts receivable
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a requirement In the financial statements under IAS 1?
Name of the entity
Whether accounts cover a single entity or a group
Chairman’s commentary on performance
Presentation currency
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under IAS 1, how often should financial statements be prepared?
At least annually
No more than annually
As often as the company requires
Monthly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under IAS 1,which of the following must be disclosed on the face of the statement of financial position?
Biological Assets
Provisions
Non-controlling interests
All of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a minimum item on the face of the statement of comprehensive Income?
Revenue
Finance costs
Deferred tax
Total comprehensive Income
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true?
IAS 1 stipulates the order in which items should be presented
AS 1 stipulates that material Items that are different in nature must be presented separately
IAS 1 s stipulates that material items may be aggregated
None Of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When Is offsetting premised under IAS 1?
Always
Never
When required or permitted under an IFRS
When approved by the board of directors
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