Reading 31: Financial Reporting Standards - LOS e ～ Q1 likely, present, company, required, following

mayanfang1

Q1. Which of the following is a company least likely required to present according to International Accounting Standard (IAS) No. 1?

A)   A summary of accounting policies.

B)   Statement of changes in owners’ equity.

C)   Disclosures of material events.

mayanfang1

答案和详解如下：

Q1. Which of the following is a company least likely required to present according to International Accounting Standard (IAS) No. 1?

A)   A summary of accounting policies.

B)   Statement of changes in owners’ equity.

C)   Disclosures of material events.

Correct answer is C)

International Accounting Standard (IAS) No. 1 defines which financial statements are required and how they must be presented. The required financial statements are:

• Balance sheet.

• Income statement.

• Cash flow statement.

• Statement of changes in owners’ equity.

• Explanatory notes, including a summary of accounting policies.

Disclosures of material events that affect the company are required by the Securities and Exchange Commission (Form 8-K) for firms that are publicly traded in the United States.

gerda2000

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mcdullpong

thanks

Michjay

a

suodi

[em50]

erpang8888

good

qiqiu

就为看答案

dullmul

thx

wangyoucao

thanks