Question: Just select the correct one no need for explanation. MCQ 1 QUESTION The components, or building blocks, in the IASB Framework for the Preparation and

Just select the correct one no need for explanation.

MCQ

1 QUESTION

The components, or building blocks, in the IASB Framework for the Preparation and Presentation of Financial Statements, do not include:

options:

a) Definition of users and their needs

b) Accounting standards

c) Underlying assumptions

d) The definition of 'financial reporting'

2 QUESTION

Which of the following is a characteristic of reliability?

options:

a) It influences economic decisions

b) None of the given options are correct

c) It provides predictive value and feedback to confirm or correct earlier expectations

d) It represents faithfully what it purports to represent

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