Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 11 not yet answered marked out of 2.00

Question 11 Not yet answered Marked out of 2.00 Flag question Question...

80.2K

Verified Solution

Question

Accounting

Question 11
Not yet answered
Marked out of 2.00
Flag question
Question text
Which one of the following alternatives is incorrect?
a.
The purpose of the Conceptual Framework is to override any particular disclosure or measurement requirement in any IFRS
b.
The purpose of the Conceptual Framework is to assist in developing future standards.
c.
The purpose of the Conceptual Framework is to assist in harmonising legislation and reducing the number of alternative accounting treatments.
d.
The purpose of the Conceptual Framework is to assist users in interpreting the information in interpreting the financial statements when compiled according to IFRS.
Clear my choice
Question 12
Not yet answered
Marked out of 2.00
Flag question
Question text
Telephone expense in arrears (unpaid) at the end of an entity's financial year will be recorded in the general journal of the entity by:
a.
Debiting telephone expense and crediting bank
b.
Debiting accrued expense and crediting bank
c.
Debiting telephone expense and crediting accrued expense
d.
Debiting bank and crediting telephone expense
Clear my choice
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

According to Sternberg, what are the 3 types of intelligence? According to Gardner, what are the...

Psychology
Q

During glycolysis electrons are beginning to be harvested from the glucose molecule The absence of...

Biology
Q

The word elbow is an example of homonymy Elbow pasta an elbow bend in a...

Biology
Q

DELLE 1 2 Description 1 2 Description TWIDE 3 Figure 1 10 in the textbook...

Biology
Q

Suppose a hiker finds himself in a forest 4 miles directly east of thenearest point...

Basic Math
Q

You may need to use the appropriate appendix table or technology to answer this question...

Statistics
Q

X TM Pa C Clever Portal Classes A variable needs to be eliminated to solve...

Algebra
Q

5. .83 69 2-b. 5. .83 69 2-b

Accounting
Q

For the month of July, UP Payroll Services worked 1,950 hours for Dune Motors, 585...

Accounting
Q

2. Income Statement The following accounts were taken from the Adjusted Trial Balance columns of...

Accounting
Q

Q1: The following are various activities an auditor does during audit planning. 1. Determine the...

Accounting
Q

JAM Reality is a limited partnership. The partnership has three equal partners and it deals...

Accounting