4. According to PAS 1 Presentation of Financial Statements, thegeneral features of financial statements include all of thefollowing, excepta. Fair presentation and compliance with PFRSSb. Comparability of presentationc. Materiality and aggregation,d. Comparative information5. According to PAS 1 Presentation of Financial Statements,inappropriate accounting policies area. rectified either by disclosure of the accounting policiesused or by notes or explanatory material.b. not rectified either by disclosure of the accounting policiesused or by notes or explanatory material.C. permitted as long as they are used consistently fromperiod to period.d. disclosed in the notes only.

According to PAS 1 Presentation of Financial Statements, the general features of financial statements include all of the following, except a. Fair presentation and compliance with PFRSS b. Comparability of presentation c. Materiality and aggregation, d. Comparative information

According to PAS 1 Presentation of Financial Statements, the general features of financial statements include all of the following, except a. Fair presentation and compliance with PFRSS b. Comparability of presentation c. Materiality and aggregation, d. Comparative information

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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4. According to PAS 1 Presentation of Financial Statements, the
general features of financial statements include all of the
following, except
a. Fair presentation and compliance with PFRSS
b. Comparability of presentation
c. Materiality and aggregation,
d. Comparative information
5. According to PAS 1 Presentation of Financial Statements,
inappropriate accounting policies are
a. rectified either by disclosure of the accounting policies
used or by notes or explanatory material.
b. not rectified either by disclosure of the accounting policies
used or by notes or explanatory material.
C. permitted as long as they are used consistently from
period to period.
d. disclosed in the notes only.

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