The amount of cash or cash equivalents that could currently be obtained by selling an asset in an orderly disposal, refers to which basis of measurement?
Which of the following represents a principal–agent relationship?
I.
shareholders-auditors
II.
shareholders-management
III.
security exchange-company
IV.
board of directors-employees
Which one of the following would be included in the statement of financial position?
Which of the following statements are correct in the context of accounting concepts and principles?
 I)The going concern assumption requires that assets be carried at their cost values.
II)Prudence allows the creation of contingency reserves and more generous provisions.
III)Financial information is considered complete even if it excludes non-material information.
IV)Understandability does not require complex information to be excluded from financial reports.
Restrictions on the scope of a specific accounting standard are stated in
Venturer Ltd has received fees from venture capital activities and has engaged you as the accountant to prepare the financial report for 31 December 20X0. Unable to find a specific reference to venture capital fees in either the conceptual framework or the accounting standards, you establish the appropriate accounting treatment by
Which one of the following practices is not considered creative accounting?
Which one of the following is an accurate definition of fair value of an asset?
Which one of the following is an objective of the International Federation of Accountants (IFAC)?
Which form of capital market efficiency exists when share prices on the stock market reflect all information whether public or not?
TESTED 01 Oct 2025