Question
Can you help me answer these questions? 1. To meet the objective of providing information about financial position, peformance and cash flows of an entity,
Can you help me answer these questions?
1. To meet the objective of providing information about financial position, peformance and cash flows of an entity, financial statements should provide information about all of the following information, except
a. Assets, liabilities and equity
b. Income and expenses, including gains and losses
c. Nature of the entity's business activities
d. All are required information
2. Which of the following is an underlying?
a. Stock market value
b. Las Pinas temperature
c. Diamond value
d. All of the above could be underlying
3. The elements of financial statements are measured in terms of
a. Constant pesos
b. Fixed Peso
c. Flexible peso
d. Nominal peso
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