" In our opinion, the financial statements give a true and fair view of the state of the Company's affairs and have been properly prepared in accordance with the Hong Kong Companies Ordinance. " Q: (a) (i) Name the above opinion. (ii) One condition for issuing the above opinion is to require all financial statements to be presented and included. List three other required conditions.

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A: The International Financial Reporting Rules (IFRS) are a collection of accounting standards that…

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A: In order to issue any report on review the practitioner must obtain information on financial…

Q: " In our opinion, the financial statements give a true and fair view of the state of the Company's…

A: Auditor uses his professional judgment to provide an opinion on the financial or economic statements…

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A: Financial statements are formal documents that provide a summary of a company's financial…

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A: Notes to financial statements provide narrative description of items which are presented in…

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A: the correct answer is FALSE .   IN LAW COUNTRIES . ACCOUNTING IS WORKING ON THE BASIS OF ACCOUNTING…

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A: The common law is developed on the basis of the particular case. It represents the development of…

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A: Only items that fit the definitions of an asset, a liability, or equity are recognised in the…

Q: What does the abbreviation GAAP stand for?   A) Advanced Principles of Government Accounting  B)…

A: The abbreviation GAAP stands for Generally Accepted Accounting Principles. These are a set of rules…

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A: It is pertinent to note that subsequent events are those events that occur after the end of the…

Q: Discuss the features that all financial statements prepared under IFRS must possess.

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: Choose the letter of the correct answer.

A: Answer: I The Objective of general purpose financial reporting forms the foundation of the…

Q: The accounting standards used in the Philippines are adapted from the standards issued by the…

A: SOLUTION EXPLANATION - THE PHILIPPINES HAS ADOPTED IFRS STANDARD AS PHILIPPINES FINANCIAL REPORTING…

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A: Conceptual Framework in Accounting Conceptual Framework which was proposed by the International…

Q: A change in accounting policy should be made only I. if Required by statute. II. Required by the…

A: Answer is option A. I, II and III.

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A: Step 1: Introduction to Financial Statements:Financial reports, or financial statements, are…

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A: General-purpose financial reporting as described in the conceptual framework is to provide financial…

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A: Accounting principle are the basis on which the whole accounting all over the world is based on.…

Q: Who is responsible for the preparation and the fair presentation of an entity's financial statements…

A: Fair Presentation of Financial statement: If the financial statements of an entity do not include…

Q: The notes to the financial statements should provide information: I. About the entity's accounting…

A: Notes to financial statements is very important part of financial statements.

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A: Financial Statement - Financial statements are official records of a company, an individual, or…

Q: ards. 1. History of Accounting standards (IFRS and GAAP) 2. Boards or organization associated IFRS.…

A: Since you have asked multiple question, we will solve the first 2 question for you. If youwant any…

Q: In common law countries accounting focuses on economic substance and the standards and procedures…

A: Common law is defined as the laws that are in unwritten form grounded on the legal precedents that…

Q: IFRS are determined by the O a. International Accounting Studies Board. b. International Auditors'…

A: IFRS (International financial reporting standards) refers to a set of rules and guidelines which…

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A: IASB IASB is an independent body that laid the foundation of International financial reposting…

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A: Hi student Since there are multiple questions, we will answer only first question.

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A: Definition:   Securities Exchange Commission (SEC): This is the government agency that governs the…