true or flase accounting conceptual framework

PROBLEMS a PROBLEM 1: TRUE OR FALSE 1. All changes in an entity's economic resources and claims to those resources result from the entity's financial performance. 2. The qualitative characteristics of useful information apply only to the financial information provided in the financial statements. 3. According to IFRS Practice Statement 2 Making Materiality Judgments, cost is an important consideration when making materiality judgments. 4. When making materiality judgme quantitative assessment alone is not always sufficient to conclude that an item of information is not material. 5. Materiality judgments apply only to items that are recognized but not to those that are unrecognized. 6. The more significant the qualitative factors are, the lower the quantitative thresholds will be. Thus, an item with a zero amount can be material in light of qualitative thresholds. 7. When making materiality judgments, an entity should judge an item's materiality only on its own and not in combination with other information in the complete set of financial statements. 8. The Conceptual Framework and the Standards specify a uniform quantitative threshold for materiality. 9. To meet the objectives of general purpose financial reporting, a Standard sometimes contains requirements that depart from the Conceptual Framework. 10. The Conceptual Framework is concerned with the provision of financial information to both external users and internal users. PROBLEM 2: TRUE OR FALSE 1. The Conceptual Framework may be revised from time to time. Revisions in the Conceptual Framework automatically result to changes in the Standards