
Previously Statements of Standard Accounting Practice and Financial Reporting Standards were applied when preparing the financial statements . . .?
Select ONE answer:
- of any entity whose accounts are intended to give a true and fair view of its financial position and its profit or loss.
- of smaller private limited companies only.
- of public limited companies (PLCs) only.
- of companies whose shares are listed on a recognised Stock Exchange only.
Show your workings to arrive at your answer, and explain and justify your reasons:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 1
- Correct – This is in accordance with the Explanatory Foreword to the accounting and financial reporting standards.
- Not correct
- Not correct
- Not correct
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