Podcast
Questions and Answers
What is the requirement for financial entities in terms of PFRSL 11?
What is the requirement for financial entities in terms of PFRSL 11?
- To have a set of financial policies
- To have a set of financial rules
- To have a set of financial guidelines
- To comply with PFRS (correct)
What can be corrected in spending policies?
What can be corrected in spending policies?
- Only the wording of the policies
- The entire policy
- The words or explanatory material (correct)
- Only information about the future
What is comprised of its assess?
What is comprised of its assess?
- A financial policy
- A financial statement
- A financial entity (correct)
- A financial report
How soon must an entity provide information about the future?
How soon must an entity provide information about the future?
What is the time frame for which an entity shall assume the going concern assumption?
What is the time frame for which an entity shall assume the going concern assumption?
What is the primary purpose of general-purpose financial reports?
What is the primary purpose of general-purpose financial reports?
Who is primarily concerned with the company's ability to pay off previously borrowed funds?
Who is primarily concerned with the company's ability to pay off previously borrowed funds?
What is a characteristic of general-purpose financial reports?
What is a characteristic of general-purpose financial reports?
What is a limitation of general-purpose financial reports?
What is a limitation of general-purpose financial reports?
What do general-purpose financial reports primarily serve?
What do general-purpose financial reports primarily serve?