Homework Help is Here – Start Your Trial Now!
Business
Accounting
Choose the letter of the correct answer.

Choose the letter of the correct answer.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Choose the letter of the correct answer.

3. The following statements are correct, except: In deciding whether a particular accounting policy should be disclosed, management considers whether disclosure would help а, users in understanding how transactions and other events are reflected in the financial statements.
Transcribed Image Text:3. The following statements are correct, except: In deciding whether a particular accounting policy should be disclosed, management considers whether disclosure would help а, users in understanding how transactions and other events are reflected in the financial statements.
b. Disclosure of particular accounting policies is especially useful to users when those policies are selected from alternatives allowed of preparation of the financial statements and specific accounting An entity may present notes providing information about the basis It is not desirable or not necessary to vary the order of specific in PFRS/IFRS. c. An entity may present notes providing information about thei policies as a separate section of the financial statements d. It is not desirable or not necessary to vary the order of speeis items within the notes in all cirçumstances.
Transcribed Image Text:b. Disclosure of particular accounting policies is especially useful to users when those policies are selected from alternatives allowed of preparation of the financial statements and specific accounting An entity may present notes providing information about the basis It is not desirable or not necessary to vary the order of specific in PFRS/IFRS. c. An entity may present notes providing information about thei policies as a separate section of the financial statements d. It is not desirable or not necessary to vary the order of speeis items within the notes in all cirçumstances.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS