Online Access Free CPAAustralia.Financial-Accounting-and-Reporting.v2021-10-29.q35 Practice Test (Page 3)

Financial-Accounting-and-Reporting Exam Question 6

XYZ Ltd is listed on the Australian Securities Exchange (ASX). Which one of the following reports is the company required to prepare as a part of its annual financial report?

A.sustainability report

B.chairman's statement

C.corporate governance statement

D.management commentary

Financial-Accounting-and-Reporting Exam Question 7

Which one of the following statements is correct?

A.Current and non-current assets are shown as separate classifications in the statement of financial position.

B.Assets used for long-term operations are shown under working capital in the statement of financial position.

C.A statement of financial position explains the reasons for movement of assets and liabilities through the accounting period.

D.Liabilities are future obligations that will cause outflow of resources embodying economic benefits.

Financial-Accounting-and-Reporting Exam Question 8

Which one of the following includes social reporting guidelines?

A.Global Reporting Initiative (GRI)

B.Generally Accepted Accounting Principles (GAAP)

C.International Accounting Standards (IAS)

D.International Financial Reporting Standards (IFRS)

Financial-Accounting-and-Reporting Exam Question 9

Which one of the following is not an Australian Securities Exchange (ASX) principle of good corporate governance?

A.Safeguard the environment.

B.Promote ethical and responsible decision-making.

C.Respect the rights of shareholders.

D.Remunerate fairly and responsibly.

Financial-Accounting-and-Reporting Exam Question 10

Which one of the following statements is correct about using judgement in the financial reporting process?

A.Accountants should not be allowed to use their own judgement.

B.Use of individual judgement is required to choose between alternative methods available within accounting standards.

C.A true and fair view cannot be assured if individual judgement is allowed.

D.Judgement can be allowed in the statement of comprehensive income but not in the statement of financial position.

Other Version: 532CPAAustralia.Financial-Accounting-and-Reporting.v2024-11-21.q35; 857CPAAustralia.Financial-Accounting-and-Reporting.v2022-11-21.q36

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Financial-Accounting-and-Reporting Exam Question 6

Financial-Accounting-and-Reporting Exam Question 7

Financial-Accounting-and-Reporting Exam Question 8

Financial-Accounting-and-Reporting Exam Question 9

Financial-Accounting-and-Reporting Exam Question 10

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