快速查题-ACCA英国注册会计师试题

Which of the following statements about accounting concepts and the characteristics of financialinformation are correct?

1 The concept of accruals requires transactions to be reflected in the financial statements once the cash or its equivalent is

received or paid.

2 Information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of

the financial statements.

3 Based on faithful representation, it may sometimes be necessary to exclude material information from financial statements

due to difficulties establishing an accurate figure.

Sales revenue should be recognised when goods and services have been supplied; costs are incurred when goods and

services have been received.Which accounting concept governs the above?

Which accounting concept states that omitting or misstating this information could influence users of the financial statements?