The body in Australia which issues legally enforceable accounting standards that apply to companies is: Select one: a. Australian Accounting Standards Board. b. Financial Reporting Council. c. CPA Australia. d. Australian Securities and Investments Commission. Income that arises from contributions of assets without having to give approximately equal value in return are referred to as non-reciprocal transfers. Which of the following is not an example of a non- reciprocal transfer? Select one: a. a contribution made by the owner to the entity, b. a cash donation for the purposes of future research. c. donations of furniture to a charity. d. a cash donation to a charity. If an entity receives a deposit in advance of goods or services being supplied, the deposit is initially classified as: Select one: a. a liability b. revenue c. an expense. d. an asset. Accounting information that is representative of the real-world is likely to meet the ConceptualFramework's criteria of: Select one: a. comparability. O b. relevance. O c. understandability. d. faithful representation