Which of the following statements about accounting concepts and policies is/are correct?
(1) The effect of a change to an accounting policy should be disclosed as an extraordinary item if material.
(2) Information in financial statements should be presented so as to be understood by users with a reasonable
knowledge of business and accounting.
(3) Companies should create hidden reserves to strengthen their financial position.
(4) Consistency of treatment of items from one period to the next is essential to enhance comparability between
companies, and must therefore take precedence over other accounting concepts such as prudence.
A 1 and 4
B 2 and 3
C 3 and 4
D 2 only. D | 
发表于 2008-4-17 17:55
|