ABC Co placed an order for a piece of equipment In anticipation of this equipment being received in the following month, the bookkeeper has recorded the following journal entry DR Equipment 13,700 CR Accounts payable 13,700 Under the IFRS conceptual framework, which of the qualitative characteristics of financial information has been violated a) Faithful representation b) Understandability c) Comparability d) Timeliness

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ABC Co. placed an order for a piece of equipment. In anticipation of this equipment being received in the following month, the bookkeeper has recorded

ABC Co. placed an order for a piece of equipment. In anticipation of this equipment being received in the following month, the bookkeeper has recorded the following journal entry:

DR Equipment	13,700
CR Accounts payable		13,700

Under the IFRS conceptual framework, which of the qualitative characteristics of financial information has been violated?

a)	Faithful representation

b)	Understandability

c)	Comparability

d)	Timeliness

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