Which of the following statements is FALSE? Accruals expenses decrease profit An accrual is a liability A prepayment is an asset Accrued income decreases profit QUESTION 5 Dividends proposed by an entity in which shares are held are not accounted for until received. The accounting convention used is: Prudence and Consistency Consistency and Going Concern Prudence and substance over form Realisation and Prudence QUESTION 6 Identify which of the following statement is INCORRECT in relation to the application of IAS 38 Intangible Assets. Capitalised development costs are amortised from the date the assets are available to use or sell Research costs should be expensed to the statement of profit or loss: Capitalised development costs that no longer meet the criteria specified by lAS 38 must be written off to the statement of profit or loss Research costs wotten off can be re-capitalised when the developed asset is feasible