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
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc532f585-6eee-42cc-a162-924548c75699%2F6bbacb8b-8a51-4b0c-b282-571dadde08e0%2F47rn6j_processed.png&w=3840&q=75)
Transcribed Image Text: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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