Analyze the following: I – If a new issue of shares for cash is made between the year-end and the date that the financial statements are authorized for issue, no adjustment is made to EPS. II – In preparing the required disclosure under PAS 24 for related party transactions, only the type of relationship and amount of transaction should be disclosed. III – Conforming with the depreciation method prevalent in a particular industry can be a justification for a change in depreciation method. Given these, we can conclude that: Group of answer choices Only statement I is not false. Only statement II is not false. All statements are not true. Only statement III is not true.
Analyze the following: I – If a new issue of shares for cash is made between the year-end and the date that the financial statements are authorized for issue, no adjustment is made to EPS. II – In preparing the required disclosure under PAS 24 for related party transactions, only the type of relationship and amount of transaction should be disclosed. III – Conforming with the depreciation method prevalent in a particular industry can be a justification for a change in depreciation method. Given these, we can conclude that: Group of answer choices Only statement I is not false. Only statement II is not false. All statements are not true. Only statement III is not true.
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter16: Advanced Topics Concerning Complex Auditing Judgments
Section: Chapter Questions
Problem 24MCQ
Related questions
Question
58.
Analyze the following:
I – If a new issue of shares for cash is made between the year-end and the date that the financial statements are authorized for issue, no adjustment is made to EPS.
II – In preparing the required disclosure under PAS 24 for related party transactions, only the type of relationship and amount of transaction should be disclosed.
III – Conforming with the
Given these, we can conclude that:
Group of answer choices
Only statement I is not false.
Only statement II is not false.
All statements are not true.
Only statement III is not true.
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