Practice Question 2 The full dsclosure principle, as adopted by the accounting profession, is best described by which of the folloving? O all information related to an entity's business aints operating objectives is required to be disclosed in the financial statements. O informatio O enough information should be disclos O disclosure is required of any financial facts significant enough to influence the judgment of an informed reader. n about each account balance appearing in the financial statements is to be included in the notes to the financial statements. sed in the financial statements so a person wishing to invest in the shares of the company can make a profitable decision. Practice Question 3 Areas directly affected by existing accounting standards include all of the following except O financial statements. management's discussion and analysis. O notes to the financial statements. O alternative valuation measures. Practice Question 5 An operating segment under IFRS is identified as a reportable segment if its revenue is greater than 10% of the combiney revenue of al the company's eperating segments. 0 Rs identiable assets are greater th* absolute s ount of its profit {loss) as 10% or more of the greater in absolute amount of the combined operating segments proft or of the cor bi ed operating segments' 0 any of the abeve options are satisfied than 10% of the combined assets of all operating segments. Practice Question 10 Under ASPE, related party transactions must be remeasured to the carrying amount of the underlying assets or services exchanges under the following circumstancess 0 the ransaction is in the normal course cf business, there is no substantive change in ownersh an or the exchange a mount is not supported by independent evi ce O if the transaction is not in the normal course of business, there is no subatantive change in ownership, and/or the exchange amount is not supported by independent evidence. O f the transaction is not in the normal course of business, there is substantive change in ownership, and/or the exchange amount is not supported by independent evidence. O if the transaction is not in the normal course of busines, there is no substantive change in ownership, and/or the exchange amount it supported by independent evidence