The Conceptual Framework for Financial Reporting ( QUIZ 002 )

Answers:

01.  All of above.

02.  Relevance and faithful representation

03.  All above

04.  True

05.  Free from error, complete & neutral.

06.  Assets, Liability, equity, income & expenses.

07.  IAS 1

08.  Incorrect

09.  Not IFRS

10.  Assistance in making judgment of value of reporting entity