Which fundamental accounting concept stipulates that company needs to apply the same policies every year? 21/11/2020, 10.00 A Comparability X Time limit 60 minutes I Auto B) Accruals Attempts 2 attempts left C Prudence 0 Consistency Marking Maximum poin Question 2 2 Points Description Once completed please Hevaluation reserve is a realised gain and forms part of total equity A) True B) False The measurement of profit is useful: A As a guide to dividend decisions B As a basis for taxation All of the above investment decisions Question 4 2 Points External users of accounting information have a financial interest in an entity but are not involved with the day-to-day operations of the enterprise A True B False Question 5 2 Points Revaluation reserve is an unrealised gain and cannot be used for distribution of dividend to shareholders True B False Question 6 2 Points A current liabilities are what the business owns within the year True False Question 7 2 Points What is the term used if a company issued share capital in excess of the nominal value of the shares? Dividends Brevaluation reserve Share capital D) share premium Question 8 2 Points Which of the following statements is correct? Assets are the difference between liabilities and owner's equity Assets are future cash outflows Liabilities are future cash inflows Assets are the sum of liabilities and owner's equity Question 9 2 Points If liabilities decrease 3,000 during a given period and owner's equity increases 1,000 during the same period, the assets must have Increased by 2,000 Decreased by 2,000 Increased by 3,000 Decreased by E3,000 Question 10 2 Points Internal users of accounting information include lenders, shareholders, brokers and managers. True B) False Question 11 2 Points