Solution-Find which is accrual basis accounting

Find which is accrual basis accounting

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Reference no: EM132765878

Problem 1: Accrual basis accounting

a) Omits adjusting at the end of the period

b) Leads to the reporting of more complete information than does cash-basis accounting

c) Is not acceptable under GAAP

d) Results in higher income than cash basis accounting

Problem 2: Under PFRS 7, "Financial instruments- disclosures", the risks arising from financial instruments that are required to be disclosed include all of the following, except

a) Qualitative and quantitative information about credit risk

b) Qualitative and quantitative information about liquidity risk

c) Qualitative and quantitative information about market risk

d) Qualitative and quantitative information about operational risk

Reference no: EM132765878

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Find which is accrual basis accounting

Reference no: EM132765878

Reference no: EM132765878

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