UESTION 2 ich one of the following is the key characteristics of the information users of general-purpose finar They are interested to read the general-purpose financial statements They do not have power to demand the entity to provide them with information specific to their They hold ordinary shares of or have major borrowings to the business Their financial interests are strongly impacted by the financial performance and financial positio QUESTION 3 e essential characteristics of a liability under the definition in the conceptual Framework are: ottlomont nauiring an outflow of rocourencombeduine non mir hanafite hmit to save and submit. Click Save All Answers to save all answers. QUESTION 1 Which of the following are required by Corporations Act 2001? i. A financial report is prepared at the end of the financial year ii. The financial statements give a "true and fair view" of the financial position iii. The financial statements comply with accounting standards iv. The financial statements include an auditor's report I, III and IV I, II, III and IV I, II and III II and III OUESTIONS Which one of the following is not a qualitative characteristic of financial information in Verifiability Relevance Reliability Comparability QUESTION 5 On 1 July 2020, Residential Ltd (lessee) leased a building from Commercial Ltd (lessor). The lease agreement contained the following: Lease term 10 years Annual rent payment, in advance (commencing 1/7/2020) $50.000 answers QUESTION 1 Which of the following are required by Corporations Act 2001? i. A financial report is prepared at the end of the financial year ii. The financial statements give a "true and fair view" of the financial position iii. The financial statements comply with accounting standards iv. The financial statements include an auditor's report I, III and IV I, II, III and IV I, II and III II and III OUESTIONS