Question: question 5 , 6 ,7,8 5. Financial information should be neutral and bias free is the dictation of which one of the following? A. Completeness

question 5 , 6 ,7,8 5. Financial information should be neutral

question 5 , 6 ,7,8

5. Financial information should be neutral and bias free" is the dictation of which one of the following? A. Completeness concept B. Faithful representation Concept C. Objectivity Concept D. Duality Concept 6. Which of the following statements is not an objective of financial reporting? A. Provide information that is useful in investment and credit decisions. B. Provide information regarding policy of organisation C. Provide information that is useful in assessing cash flow prospective D. None of theses 7. A book containing a chronological record of business transaction & original record A. Journal B. Ledger C. Trial balance D. None of these 8. Which of these items would be accounted for as an expense? A. Repayment of bank Loan B. Dividend to stock holders C. The purchase of land D. Payment of current period rent

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