Question $11$

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Which one of the following alternatives is incorrect?

a$.$

The purpose of the Conceptual Framework is to override any particular disclosure or measurement requirement in any IFRS

b$.$

The purpose of the Conceptual Framework is to assist in developing future standards.

c$.$

The purpose of the Conceptual Framework is to assist in harmonising legislation and reducing the number of alternative accounting treatments.

d$.$

The purpose of the Conceptual Framework is to assist users in interpreting the information in interpreting the financial statements when compiled according to IFRS.

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Question $12$

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Telephone expense in arrears $($unpaid$)$ at the end of an entity's financial year will be recorded in the general journal of the entity by:

a$.$

Debiting telephone expense and crediting bank

b$.$

Debiting accrued expense and crediting bank

c$.$

Debiting telephone expense and crediting accrued expense

d$.$

Debiting bank and crediting telephone expense

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