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please reply these questions Which of these pairs of qualitative characteristics are most likely to be in conflict? Select one a. Comparability and verifiability b.
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Which of these pairs of qualitative characteristics are most likely to be in conflict? Select one a. Comparability and verifiability b. Understandability and comparability C. Relevance and faithful representation d. Understandability and relevance The qualitative characteristics for financial reporting contained in the conceptual Framework are: Select one: a. Relevance, reliability, materiality, consistency, verifiability, understandability b. Understandability, timeliness, relevance, readability, timeliness, reliability c. Relevance, faithful representation, comparability, understandability, verifiability, timeliness d. Uniformity, relevance, reliability, consistency, faithful representation In the Conceptual Framework materiality is an aspect of: Select one: a. relevance b. faithful representation C. verifiability d. timeliness According to the Conceptual Framework which statement concerning the recognition of liabilities is not true? Select one: a. All liabilities that meet the definition of a liability should be recognised in the accounting records b. A recognition criteria is that it is probable that a sacrifice of future economic benefits will be required C. A recognition criteria is that the amount of the liability must be able to be measured reliably d. Liabilities that do not satisfy the recognition criteria can be recognised in the notes attached to the accounts The statement relating to comparability that is true is: Select one: a. It requires an entity, as far as possible to use the same accounting method from yoruyor b. It means a company can never change an accounting method c. It means all firms in the same industry should use the same accounting methods d. It means the same depreciation method must be employed for all classes deStep by Step Solution
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