TRUE OR FALSE, EXPLAIN why is true, and why is false

1.Once promulgated, accounting standards are never changed.

2.The entity's management is responsible for the selection of appropriate accounting policies, not the accountant.

3.All changes in an entity's economic resources and claims to those resources result from entity's financial performance.

4.The qualitative characteristics of useful information apply only to the financial information provided in the financial statements.

5.The Conceptual framework is concerned with the provision of financial information to both external users and internal users.

6.The application of PFRS's, with additional disclosure, when necessary, is presumed to result in financial statements that achieve a fair presentation.

7.PAS 1, encourages, but does not require, the presentation of preceding year's financial statements as comparative information to the current year's financial statements.