{"id":899,"date":"2023-10-12T09:05:49","date_gmt":"2023-10-12T09:05:49","guid":{"rendered":"https:\/\/exam.real4prep.com\/?p=899"},"modified":"2023-10-12T09:05:49","modified_gmt":"2023-10-12T09:05:49","slug":"oct-2023-use-real-financial-accounting-and-reporting-dumps-free-sample-questions-and-practice-test-engine-q37-q53","status":"publish","type":"post","link":"https:\/\/exam.real4prep.com\/zh\/2023\/10\/12\/oct-2023-use-real-financial-accounting-and-reporting-dumps-free-sample-questions-and-practice-test-engine-q37-q53\/","title":{"rendered":"[Oct-2023] Use Real Financial-Accounting-and-Reporting Dumps Free Sample Questions and Practice Test Engine [Q37-Q53]"},"content":{"rendered":"\n\n<div class=\"kk-star-ratings kksr-auto kksr-align-left kksr-valign-top\"\n    data-payload='{&quot;align&quot;:&quot;left&quot;,&quot;id&quot;:&quot;899&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;top&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;[Oct-2023] Use Real Financial-Accounting-and-Reporting Dumps Free Sample Questions and Practice Test Engine [Q37-Q53]&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}'>\n            \n<div class=\"kksr-stars\">\n    \n<div class=\"kksr-stars-inactive\">\n            <div class=\"kksr-star\" data-star=\"1\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"2\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"3\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"4\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"5\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n    \n<div class=\"kksr-stars-active\" style=\"width: 0px;\">\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n<\/div>\n                \n\n<div class=\"kksr-legend\" style=\"font-size: 19.2px;\">\n            <span class=\"kksr-muted\">Rate this post<\/span>\n    <\/div>\n    <\/div>\n<p><strong><span style=\"font-size: 18px;color: red\">[Oct-2023] Use Real Financial-Accounting-and-Reporting Dumps Free Sample Questions and Practice Test Engine<\/span><\/strong><\/p>\n<p><strong><span style=\"color: red\">Pass CPA Australia Financial-Accounting-and-Reporting exam &#8211; questions &#8211; convert Tets Engine to PDF<\/span><\/strong><\/p>\n<p><\/p>\n<p>To be eligible to take the CPA Financial Accounting and Reporting Exam, candidates must have a bachelor&#8217;s degree in accounting or a related field and meet other requirements set by CPA Australia. Financial-Accounting-and-Reporting exam is offered four times a year, and candidates must register in advance to take the exam. Financial-Accounting-and-Reporting exam consists of multiple-choice questions and written responses, and candidates must pass all sections of the exam to become certified.<\/p>\n<p>&nbsp;<\/p>\n<div id=\"watu_quiz\" class=\"quiz-area single-page-quiz\">\n<form action=\"\" method=\"post\" class=\"quiz-form \" id=\"quiz-399\" >\n<div class='watu-question' id='question-1'><div class='question-content'><p><strong>QUESTION 37<\/strong><br \/>Current cost accounting reflects an approach to capital maintenance based on maintaining which one of the following?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7841' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30436' \/><div class='watu-question-choice'><input type='radio' name='answer-7841[]' id='answer-id-30436' class='answer answer-1 js-answer-label answerof-7841' value='30436' \/>&nbsp;<label for='answer-id-30436' id='answer-label-30436' class='js-answer-label answer label-1'><span class='answer'>profitability of the business<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30437' \/><div class='watu-question-choice'><input type='radio' name='answer-7841[]' id='answer-id-30437' class='answer answer-1 js-answer-label answerof-7841' value='30437' \/>&nbsp;<label for='answer-id-30437' id='answer-label-30437' class='js-answer-label answer label-1'><span class='answer'>cost of assets in the business<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30438' \/><div class='watu-question-choice'><input type='radio' name='answer-7841[]' id='answer-id-30438' class='answer answer-1 js-answer-label answerof-7841' value='30438' \/>&nbsp;<label for='answer-id-30438' id='answer-label-30438' class='js-answer-label answer label-1'><span class='answer'>financial capability of the business<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30439' \/><div class='watu-question-choice'><input type='radio' name='answer-7841[]' id='answer-id-30439' class='answer answer-1 php-answer-label answerof-7841' value='30439' \/>&nbsp;<label for='answer-id-30439' id='answer-label-30439' class='php-answer-label answer label-1'><span class='answer'>operating capability of the business<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(1,this)' id='btn-1' value='See Answer'  \/><input type='hidden' id='questionType1' value='radio' class=''><\/div><div class='watu-question' id='question-2'><div class='question-content'><p><strong>QUESTION 38<\/strong><br \/>In individual countries, Generally Accepted Accounting Principles (GAAP) is primarily a combination of<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7842' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30440' \/><div class='watu-question-choice'><input type='radio' name='answer-7842[]' id='answer-id-30440' class='answer answer-2 js-answer-label answerof-7842' value='30440' \/>&nbsp;<label for='answer-id-30440' id='answer-label-30440' class='js-answer-label answer label-2'><span class='answer'>national company law and national accounting standards.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30441' \/><div class='watu-question-choice'><input type='radio' name='answer-7842[]' id='answer-id-30441' class='answer answer-2 js-answer-label answerof-7842' value='30441' \/>&nbsp;<label for='answer-id-30441' id='answer-label-30441' class='js-answer-label answer label-2'><span class='answer'>national company law and local stock exchange requirements.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30442' \/><div class='watu-question-choice'><input type='radio' name='answer-7842[]' id='answer-id-30442' class='answer answer-2 php-answer-label answerof-7842' value='30442' \/>&nbsp;<label for='answer-id-30442' id='answer-label-30442' class='php-answer-label answer label-2'><span class='answer'>national company law, national accounting standards and local stock exchange requirements.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30443' \/><div class='watu-question-choice'><input type='radio' name='answer-7842[]' id='answer-id-30443' class='answer answer-2 js-answer-label answerof-7842' value='30443' \/>&nbsp;<label for='answer-id-30443' id='answer-label-30443' class='js-answer-label answer label-2'><span class='answer'>company law, accounting standards, local stock exchange requirements and international accounting standards.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(2,this)' id='btn-2' value='See Answer'  \/><input type='hidden' id='questionType2' value='radio' class=''><\/div><div class='watu-question' id='question-3'><div class='question-content'><p><strong>QUESTION 39<\/strong><br \/>Which one of these is a disadvantage of a conceptual framework?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7843' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30444' \/><div class='watu-question-choice'><input type='radio' name='answer-7843[]' id='answer-id-30444' class='answer answer-3 js-answer-label answerof-7843' value='30444' \/>&nbsp;<label for='answer-id-30444' id='answer-label-30444' class='js-answer-label answer label-3'><span class='answer'>It replaces the established principles.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30445' \/><div class='watu-question-choice'><input type='radio' name='answer-7843[]' id='answer-id-30445' class='answer answer-3 js-answer-label answerof-7843' value='30445' \/>&nbsp;<label for='answer-id-30445' id='answer-label-30445' class='js-answer-label answer label-3'><span class='answer'>It mandates the formats of various financial statements.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30446' \/><div class='watu-question-choice'><input type='radio' name='answer-7843[]' id='answer-id-30446' class='answer answer-3 php-answer-label answerof-7843' value='30446' \/>&nbsp;<label for='answer-id-30446' id='answer-label-30446' class='php-answer-label answer label-3'><span class='answer'>A single framework is not suitable for all users of financial statements.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30447' \/><div class='watu-question-choice'><input type='radio' name='answer-7843[]' id='answer-id-30447' class='answer answer-3 js-answer-label answerof-7843' value='30447' \/>&nbsp;<label for='answer-id-30447' id='answer-label-30447' class='js-answer-label answer label-3'><span class='answer'>It increases the chances of political interference in the development of accounting standards.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(3,this)' id='btn-3' value='See Answer'  \/><input type='hidden' id='questionType3' value='radio' class=''><\/div><div class='watu-question' id='question-4'><div class='question-content'><p><strong>QUESTION 40<\/strong><br \/>Which one of these is a key principle of good corporate governance?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7844' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30448' \/><div class='watu-question-choice'><input type='radio' name='answer-7844[]' id='answer-id-30448' class='answer answer-4 php-answer-label answerof-7844' value='30448' \/>&nbsp;<label for='answer-id-30448' id='answer-label-30448' class='php-answer-label answer label-4'><span class='answer'>effective communication with shareholders<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30449' \/><div class='watu-question-choice'><input type='radio' name='answer-7844[]' id='answer-id-30449' class='answer answer-4 js-answer-label answerof-7844' value='30449' \/>&nbsp;<label for='answer-id-30449' id='answer-label-30449' class='js-answer-label answer label-4'><span class='answer'>restriction of shareholders&#8217; rights in decision-making<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30450' \/><div class='watu-question-choice'><input type='radio' name='answer-7844[]' id='answer-id-30450' class='answer answer-4 js-answer-label answerof-7844' value='30450' \/>&nbsp;<label for='answer-id-30450' id='answer-label-30450' class='js-answer-label answer label-4'><span class='answer'>effective management of the employees of the company<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30451' \/><div class='watu-question-choice'><input type='radio' name='answer-7844[]' id='answer-id-30451' class='answer answer-4 js-answer-label answerof-7844' value='30451' \/>&nbsp;<label for='answer-id-30451' id='answer-label-30451' class='js-answer-label answer label-4'><span class='answer'>non-disclosure of directors&#8217; agency relationship with the company<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(4,this)' id='btn-4' value='See Answer'  \/><input type='hidden' id='questionType4' value='radio' class=''><\/div><div class='watu-question' id='question-5'><div class='question-content'><p><strong>QUESTION 41<\/strong><br \/>A company&#8217;s financial report is compliant with International Financial Reporting Standards. Where in the report would an investor find the amount of money received by the company for investment activities?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7845' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30452' \/><div class='watu-question-choice'><input type='radio' name='answer-7845[]' id='answer-id-30452' class='answer answer-5 php-answer-label answerof-7845' value='30452' \/>&nbsp;<label for='answer-id-30452' id='answer-label-30452' class='php-answer-label answer label-5'><span class='answer'>statement of cash flows<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30453' \/><div class='watu-question-choice'><input type='radio' name='answer-7845[]' id='answer-id-30453' class='answer answer-5 js-answer-label answerof-7845' value='30453' \/>&nbsp;<label for='answer-id-30453' id='answer-label-30453' class='js-answer-label answer label-5'><span class='answer'>statement of financial position<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30454' \/><div class='watu-question-choice'><input type='radio' name='answer-7845[]' id='answer-id-30454' class='answer answer-5 js-answer-label answerof-7845' value='30454' \/>&nbsp;<label for='answer-id-30454' id='answer-label-30454' class='js-answer-label answer label-5'><span class='answer'>statement of changes in equity<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30455' \/><div class='watu-question-choice'><input type='radio' name='answer-7845[]' id='answer-id-30455' class='answer answer-5 js-answer-label answerof-7845' value='30455' \/>&nbsp;<label for='answer-id-30455' id='answer-label-30455' class='js-answer-label answer label-5'><span class='answer'>statement of comprehensive income<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(5,this)' id='btn-5' value='See Answer'  \/><input type='hidden' id='questionType5' value='radio' class=''><\/div><div class='watu-question' id='question-6'><div class='question-content'><p><strong>QUESTION 42<\/strong><br \/>In an efficient market, normally if interest rates rise, share prices will<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7846' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30456' \/><div class='watu-question-choice'><input type='radio' name='answer-7846[]' id='answer-id-30456' class='answer answer-6 js-answer-label answerof-7846' value='30456' \/>&nbsp;<label for='answer-id-30456' id='answer-label-30456' class='js-answer-label answer label-6'><span class='answer'>rise due to the overall positive sentiment.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30457' \/><div class='watu-question-choice'><input type='radio' name='answer-7846[]' id='answer-id-30457' class='answer answer-6 php-answer-label answerof-7846' value='30457' \/>&nbsp;<label for='answer-id-30457' id='answer-label-30457' class='php-answer-label answer label-6'><span class='answer'>fall since investors expect a higher return.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30458' \/><div class='watu-question-choice'><input type='radio' name='answer-7846[]' id='answer-id-30458' class='answer answer-6 js-answer-label answerof-7846' value='30458' \/>&nbsp;<label for='answer-id-30458' id='answer-label-30458' class='js-answer-label answer label-6'><span class='answer'>rise since banks invest their increased profits.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30459' \/><div class='watu-question-choice'><input type='radio' name='answer-7846[]' id='answer-id-30459' class='answer answer-6 js-answer-label answerof-7846' value='30459' \/>&nbsp;<label for='answer-id-30459' id='answer-label-30459' class='js-answer-label answer label-6'><span class='answer'>fall in anticipation of a reversal in the interest rate cycle.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(6,this)' id='btn-6' value='See Answer'  \/><input type='hidden' id='questionType6' value='radio' class=''><\/div><div class='watu-question' id='question-7'><div class='question-content'><p><strong>QUESTION 43<\/strong><br \/>Which one of the following countries has the view that Generally Accepted Accounting Principles (GAAP) refers to accounting practices which are regarded as permissible by the accounting profession?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7847' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30460' \/><div class='watu-question-choice'><input type='radio' name='answer-7847[]' id='answer-id-30460' class='answer answer-7 js-answer-label answerof-7847' value='30460' \/>&nbsp;<label for='answer-id-30460' id='answer-label-30460' class='js-answer-label answer label-7'><span class='answer'>Canada<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30461' \/><div class='watu-question-choice'><input type='radio' name='answer-7847[]' id='answer-id-30461' class='answer answer-7 js-answer-label answerof-7847' value='30461' \/>&nbsp;<label for='answer-id-30461' id='answer-label-30461' class='js-answer-label answer label-7'><span class='answer'>Australia<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30462' \/><div class='watu-question-choice'><input type='radio' name='answer-7847[]' id='answer-id-30462' class='answer answer-7 php-answer-label answerof-7847' value='30462' \/>&nbsp;<label for='answer-id-30462' id='answer-label-30462' class='php-answer-label answer label-7'><span class='answer'>United Kingdom<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30463' \/><div class='watu-question-choice'><input type='radio' name='answer-7847[]' id='answer-id-30463' class='answer answer-7 js-answer-label answerof-7847' value='30463' \/>&nbsp;<label for='answer-id-30463' id='answer-label-30463' class='js-answer-label answer label-7'><span class='answer'>United States of America<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(7,this)' id='btn-7' value='See Answer'  \/><input type='hidden' id='questionType7' value='radio' class=''><\/div><div class='watu-question' id='question-8'><div class='question-content'><p><strong>QUESTION 44<\/strong><br \/>Which one of the following is not a function of the trustees of the International Financial Reporting Standards Foundation (IFRS Foundation)?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7848' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30464' \/><div class='watu-question-choice'><input type='radio' name='answer-7848[]' id='answer-id-30464' class='answer answer-8 js-answer-label answerof-7848' value='30464' \/>&nbsp;<label for='answer-id-30464' id='answer-label-30464' class='js-answer-label answer label-8'><span class='answer'>ensuring the financing of the International Accounting Standards Board (IASB)<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30465' \/><div class='watu-question-choice'><input type='radio' name='answer-7848[]' id='answer-id-30465' class='answer answer-8 js-answer-label answerof-7848' value='30465' \/>&nbsp;<label for='answer-id-30465' id='answer-label-30465' class='js-answer-label answer label-8'><span class='answer'>appointing the members of the International Accounting Standards Board (IASB)<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30466' \/><div class='watu-question-choice'><input type='radio' name='answer-7848[]' id='answer-id-30466' class='answer answer-8 js-answer-label answerof-7848' value='30466' \/>&nbsp;<label for='answer-id-30466' id='answer-label-30466' class='js-answer-label answer label-8'><span class='answer'>promoting the application of International Financial Reporting Standards (IFRSs)<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30467' \/><div class='watu-question-choice'><input type='radio' name='answer-7848[]' id='answer-id-30467' class='answer answer-8 php-answer-label answerof-7848' value='30467' \/>&nbsp;<label for='answer-id-30467' id='answer-label-30467' class='php-answer-label answer label-8'><span class='answer'>providing suggestions on technical matters relating to accounting standards<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(8,this)' id='btn-8' value='See Answer'  \/><input type='hidden' id='questionType8' value='radio' class=''><\/div><div class='watu-question' id='question-9'><div class='question-content'><p><strong>QUESTION 45<\/strong><br \/>Financial information is reliable if it<br \/>I)prefers substance over legal form.<br \/>II)is neutral and without any material error.<br \/>III)is complete and has been made with prudence.<br \/>IV)is understandable to those with no knowledge of accounting.<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7849' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30468' \/><div class='watu-question-choice'><input type='radio' name='answer-7849[]' id='answer-id-30468' class='answer answer-9 php-answer-label answerof-7849' value='30468' \/>&nbsp;<label for='answer-id-30468' id='answer-label-30468' class='php-answer-label answer label-9'><span class='answer'>I, II and III only<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30469' \/><div class='watu-question-choice'><input type='radio' name='answer-7849[]' id='answer-id-30469' class='answer answer-9 js-answer-label answerof-7849' value='30469' \/>&nbsp;<label for='answer-id-30469' id='answer-label-30469' class='js-answer-label answer label-9'><span class='answer'>I, II and IV only<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30470' \/><div class='watu-question-choice'><input type='radio' name='answer-7849[]' id='answer-id-30470' class='answer answer-9 js-answer-label answerof-7849' value='30470' \/>&nbsp;<label for='answer-id-30470' id='answer-label-30470' class='js-answer-label answer label-9'><span class='answer'>I, III and IV only<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30471' \/><div class='watu-question-choice'><input type='radio' name='answer-7849[]' id='answer-id-30471' class='answer answer-9 js-answer-label answerof-7849' value='30471' \/>&nbsp;<label for='answer-id-30471' id='answer-label-30471' class='js-answer-label answer label-9'><span class='answer'>II, III and IV only<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(9,this)' id='btn-9' value='See Answer'  \/><input type='hidden' id='questionType9' value='radio' class=''><\/div><div class='watu-question' id='question-10'><div class='question-content'><p><strong>QUESTION 46<\/strong><br \/>Which one of the following would be recognised in the statement of profit or loss and other comprehensive income?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7850' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30472' \/><div class='watu-question-choice'><input type='radio' name='answer-7850[]' id='answer-id-30472' class='answer answer-10 js-answer-label answerof-7850' value='30472' \/>&nbsp;<label for='answer-id-30472' id='answer-label-30472' class='js-answer-label answer label-10'><span class='answer'>inventory<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30473' \/><div class='watu-question-choice'><input type='radio' name='answer-7850[]' id='answer-id-30473' class='answer answer-10 php-answer-label answerof-7850' value='30473' \/>&nbsp;<label for='answer-id-30473' id='answer-label-30473' class='php-answer-label answer label-10'><span class='answer'>employee wages<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30474' \/><div class='watu-question-choice'><input type='radio' name='answer-7850[]' id='answer-id-30474' class='answer answer-10 js-answer-label answerof-7850' value='30474' \/>&nbsp;<label for='answer-id-30474' id='answer-label-30474' class='js-answer-label answer label-10'><span class='answer'>retained earnings<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30475' \/><div class='watu-question-choice'><input type='radio' name='answer-7850[]' id='answer-id-30475' class='answer answer-10 js-answer-label answerof-7850' value='30475' \/>&nbsp;<label for='answer-id-30475' id='answer-label-30475' class='js-answer-label answer label-10'><span class='answer'>prepayment of expenses<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(10,this)' id='btn-10' value='See Answer'  \/><input type='hidden' id='questionType10' value='radio' class=''><\/div><div class='watu-question' id='question-11'><div class='question-content'><p><strong>QUESTION 47<\/strong><br \/>The concept of transparency in corporate governance means that listed companies should disclose<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7851' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30476' \/><div class='watu-question-choice'><input type='radio' name='answer-7851[]' id='answer-id-30476' class='answer answer-11 js-answer-label answerof-7851' value='30476' \/>&nbsp;<label for='answer-id-30476' id='answer-label-30476' class='js-answer-label answer label-11'><span class='answer'>their future strategy.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30477' \/><div class='watu-question-choice'><input type='radio' name='answer-7851[]' id='answer-id-30477' class='answer answer-11 js-answer-label answerof-7851' value='30477' \/>&nbsp;<label for='answer-id-30477' id='answer-label-30477' class='js-answer-label answer label-11'><span class='answer'>confidential issues relating to competitors.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30478' \/><div class='watu-question-choice'><input type='radio' name='answer-7851[]' id='answer-id-30478' class='answer answer-11 php-answer-label answerof-7851' value='30478' \/>&nbsp;<label for='answer-id-30478' id='answer-label-30478' class='php-answer-label answer label-11'><span class='answer'>material information that affects decisions.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30479' \/><div class='watu-question-choice'><input type='radio' name='answer-7851[]' id='answer-id-30479' class='answer answer-11 js-answer-label answerof-7851' value='30479' \/>&nbsp;<label for='answer-id-30479' id='answer-label-30479' class='js-answer-label answer label-11'><span class='answer'>only mandatory information by management.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(11,this)' id='btn-11' value='See Answer'  \/><input type='hidden' id='questionType11' value='radio' class=''><\/div><div class='watu-question' id='question-12'><div class='question-content'><p><strong>QUESTION 48<\/strong><br \/>According to the IASB&#8217;s Conceptual Framework, the key reason general purpose financial statements are produced is to satisfy the information needs of<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7852' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30480' \/><div class='watu-question-choice'><input type='radio' name='answer-7852[]' id='answer-id-30480' class='answer answer-12 js-answer-label answerof-7852' value='30480' \/>&nbsp;<label for='answer-id-30480' id='answer-label-30480' class='js-answer-label answer label-12'><span class='answer'>employees.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30481' \/><div class='watu-question-choice'><input type='radio' name='answer-7852[]' id='answer-id-30481' class='answer answer-12 js-answer-label answerof-7852' value='30481' \/>&nbsp;<label for='answer-id-30481' id='answer-label-30481' class='js-answer-label answer label-12'><span class='answer'>management.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30482' \/><div class='watu-question-choice'><input type='radio' name='answer-7852[]' id='answer-id-30482' class='answer answer-12 js-answer-label answerof-7852' value='30482' \/>&nbsp;<label for='answer-id-30482' id='answer-label-30482' class='js-answer-label answer label-12'><span class='answer'>internal users.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30483' \/><div class='watu-question-choice'><input type='radio' name='answer-7852[]' id='answer-id-30483' class='answer answer-12 php-answer-label answerof-7852' value='30483' \/>&nbsp;<label for='answer-id-30483' id='answer-label-30483' class='php-answer-label answer label-12'><span class='answer'>capital providers.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(12,this)' id='btn-12' value='See Answer'  \/><input type='hidden' id='questionType12' value='radio' class=''><\/div><div class='watu-question' id='question-13'><div class='question-content'><p><strong>QUESTION 49<\/strong><br \/>Which one of the following is not an Australian Securities Exchange (ASX) principle of good corporate governance?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7853' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30484' \/><div class='watu-question-choice'><input type='radio' name='answer-7853[]' id='answer-id-30484' class='answer answer-13 php-answer-label answerof-7853' value='30484' \/>&nbsp;<label for='answer-id-30484' id='answer-label-30484' class='php-answer-label answer label-13'><span class='answer'>Safeguard the environment.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30485' \/><div class='watu-question-choice'><input type='radio' name='answer-7853[]' id='answer-id-30485' class='answer answer-13 js-answer-label answerof-7853' value='30485' \/>&nbsp;<label for='answer-id-30485' id='answer-label-30485' class='js-answer-label answer label-13'><span class='answer'>Respect the rights of shareholders.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30486' \/><div class='watu-question-choice'><input type='radio' name='answer-7853[]' id='answer-id-30486' class='answer answer-13 js-answer-label answerof-7853' value='30486' \/>&nbsp;<label for='answer-id-30486' id='answer-label-30486' class='js-answer-label answer label-13'><span class='answer'>Remunerate fairly and responsibly.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30487' \/><div class='watu-question-choice'><input type='radio' name='answer-7853[]' id='answer-id-30487' class='answer answer-13 js-answer-label answerof-7853' value='30487' \/>&nbsp;<label for='answer-id-30487' id='answer-label-30487' class='js-answer-label answer label-13'><span class='answer'>Promote ethical and responsible decision-making.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(13,this)' id='btn-13' value='See Answer'  \/><input type='hidden' id='questionType13' value='radio' class=''><\/div><div class='watu-question' id='question-14'><div class='question-content'><p><strong>QUESTION 50<\/strong><br \/>The ability of a company to pay its bills when and as they fall due is a measure of<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7854' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30488' \/><div class='watu-question-choice'><input type='radio' name='answer-7854[]' id='answer-id-30488' class='answer answer-14 php-answer-label answerof-7854' value='30488' \/>&nbsp;<label for='answer-id-30488' id='answer-label-30488' class='php-answer-label answer label-14'><span class='answer'>solvency.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30489' \/><div class='watu-question-choice'><input type='radio' name='answer-7854[]' id='answer-id-30489' class='answer answer-14 js-answer-label answerof-7854' value='30489' \/>&nbsp;<label for='answer-id-30489' id='answer-label-30489' class='js-answer-label answer label-14'><span class='answer'>economic value.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30490' \/><div class='watu-question-choice'><input type='radio' name='answer-7854[]' id='answer-id-30490' class='answer answer-14 js-answer-label answerof-7854' value='30490' \/>&nbsp;<label for='answer-id-30490' id='answer-label-30490' class='js-answer-label answer label-14'><span class='answer'>compliance with the conceptual framework.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30491' \/><div class='watu-question-choice'><input type='radio' name='answer-7854[]' id='answer-id-30491' class='answer answer-14 js-answer-label answerof-7854' value='30491' \/>&nbsp;<label for='answer-id-30491' id='answer-label-30491' class='js-answer-label answer label-14'><span class='answer'>the true and fair view of the financial report.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(14,this)' id='btn-14' value='See Answer'  \/><input type='hidden' id='questionType14' value='radio' class=''><\/div><div class='watu-question' id='question-15'><div class='question-content'><p><strong>QUESTION 51<\/strong><br \/>Which of the following represents a principal-agent relationship?<br \/>I.<br \/>shareholders-auditors<br \/>II.<br \/>shareholders-management<br \/>III.<br \/>security exchange-company<br \/>IV.<br \/>board of directors-employees<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7855' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30492' \/><div class='watu-question-choice'><input type='radio' name='answer-7855[]' id='answer-id-30492' class='answer answer-15 js-answer-label answerof-7855' value='30492' \/>&nbsp;<label for='answer-id-30492' id='answer-label-30492' class='js-answer-label answer label-15'><span class='answer'>I, II and III only<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30493' \/><div class='watu-question-choice'><input type='radio' name='answer-7855[]' id='answer-id-30493' class='answer answer-15 php-answer-label answerof-7855' value='30493' \/>&nbsp;<label for='answer-id-30493' id='answer-label-30493' class='php-answer-label answer label-15'><span class='answer'>I, II and IV only<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30494' \/><div class='watu-question-choice'><input type='radio' name='answer-7855[]' id='answer-id-30494' class='answer answer-15 js-answer-label answerof-7855' value='30494' \/>&nbsp;<label for='answer-id-30494' id='answer-label-30494' class='js-answer-label answer label-15'><span class='answer'>II, III and IV only<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30495' \/><div class='watu-question-choice'><input type='radio' name='answer-7855[]' id='answer-id-30495' class='answer answer-15 js-answer-label answerof-7855' value='30495' \/>&nbsp;<label for='answer-id-30495' id='answer-label-30495' class='js-answer-label answer label-15'><span class='answer'>I, II, III and IV<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(15,this)' id='btn-15' value='See Answer'  \/><input type='hidden' id='questionType15' value='radio' class=''><\/div><div class='watu-question' id='question-16'><div class='question-content'><p><strong>QUESTION 52<\/strong><br \/>The objective of the International Accounting Standards Board (IASB) is to<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7856' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30496' \/><div class='watu-question-choice'><input type='radio' name='answer-7856[]' id='answer-id-30496' class='answer answer-16 php-answer-label answerof-7856' value='30496' \/>&nbsp;<label for='answer-id-30496' id='answer-label-30496' class='php-answer-label answer label-16'><span class='answer'>set International Financial Reporting Standards.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30497' \/><div class='watu-question-choice'><input type='radio' name='answer-7856[]' id='answer-id-30497' class='answer answer-16 js-answer-label answerof-7856' value='30497' \/>&nbsp;<label for='answer-id-30497' id='answer-label-30497' class='js-answer-label answer label-16'><span class='answer'>enforce International Financial Reporting Standards.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30498' \/><div class='watu-question-choice'><input type='radio' name='answer-7856[]' id='answer-id-30498' class='answer answer-16 js-answer-label answerof-7856' value='30498' \/>&nbsp;<label for='answer-id-30498' id='answer-label-30498' class='js-answer-label answer label-16'><span class='answer'>provide strategic advice to the International Financial Reporting Standards Advisory Council.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30499' \/><div class='watu-question-choice'><input type='radio' name='answer-7856[]' id='answer-id-30499' class='answer answer-16 js-answer-label answerof-7856' value='30499' \/>&nbsp;<label for='answer-id-30499' id='answer-label-30499' class='js-answer-label answer label-16'><span class='answer'>oversee the standard setting process and International Financial Reporting Standards Advisory Council.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(16,this)' id='btn-16' value='See Answer'  \/><input type='hidden' id='questionType16' value='radio' class=''><\/div><div class='watu-question' id='question-17'><div class='question-content'><p><strong>QUESTION 53<\/strong><br \/>In a strong efficient market, the finance manager will<\/p>\n<\/div><input type='hidden' name='question_id[]' value='7857' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30500' \/><div class='watu-question-choice'><input type='radio' name='answer-7857[]' id='answer-id-30500' class='answer answer-17 js-answer-label answerof-7857' value='30500' \/>&nbsp;<label for='answer-id-30500' id='answer-label-30500' class='js-answer-label answer label-17'><span class='answer'>analyse historical data on takeover targets.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30501' \/><div class='watu-question-choice'><input type='radio' name='answer-7857[]' id='answer-id-30501' class='answer answer-17 php-answer-label answerof-7857' value='30501' \/>&nbsp;<label for='answer-id-30501' id='answer-label-30501' class='php-answer-label answer label-17'><span class='answer'>maximise the net present value of the firm&#8217;s investments.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30502' \/><div class='watu-question-choice'><input type='radio' name='answer-7857[]' id='answer-id-30502' class='answer answer-17 js-answer-label answerof-7857' value='30502' \/>&nbsp;<label for='answer-id-30502' id='answer-label-30502' class='js-answer-label answer label-17'><span class='answer'>develop strategies to disclose the company&#8217;s profit or loss.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='30503' \/><div class='watu-question-choice'><input type='radio' name='answer-7857[]' id='answer-id-30503' class='answer answer-17 js-answer-label answerof-7857' value='30503' \/>&nbsp;<label for='answer-id-30503' id='answer-label-30503' class='js-answer-label answer label-17'><span class='answer'>employ analysts to determine the best time to issue shares.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(17,this)' id='btn-17' value='See Answer'  \/><input type='hidden' id='questionType17' value='radio' class=''><\/div><div style='display:none' id='question-18'><br \/><div class='question-content'><img decoding=\"async\" src=\"https:\/\/exam.real4prep.com\/wp-content\/plugins\/watu\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading ...\" title=\"Loading ...\" \/>&nbsp;Loading &#8230;<\/div><\/div><br \/>\n<input 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