29. 30. 31. Valuing assets at the amount of cash or equivalents paid or the fair value of the consideration given to acquire them at the time of acquisition most closely describes which measurement of financial statement elements? A. Current cost. B. Historical cost. C. Realizable value. The valuation technique under which assets are recorded at the amount that would be received in an orderly disposal is: A. current cost. B. present value. C. realizable value Which of the following is not a required financial statement according to IAS No. 1? A Statement of financial position. B. Statement of changes in income. C. Statement of comprehensive income. Which of the following elements of financial statements is most closely related to measurement of performance? A. Assets. B. Expenses. C. Liabilities. Which of the following elements of financial statements is most closely related to measurement of financial position? A. Equity B. Income. C. Expenses. Which of the following disclosures regarding new accounting standards provides the most meaningful information to an analyst? A. The impact of adoption is discussed. B. The standard will have no material impact. C. Management is still evaluating the impact. 32. 33. 34