Accounting Multiple Choice Question – 30 May 2020

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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The format in which the financial statements of UK registered limited companies must be published is prescribed by . . .?

Select ONE answer:

  1. Statements of Standard Accounting Practice (SSAPs).
  2. The UK Companies Acts.
  3. Financial Reporting Standards (FRSs).
  4. The Companies Registration Office.

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 2

  1. Not correct
  2. Correct – The format of company financial statements throughout the EU was prescribed in the EC fourth directive on company law. This directive required all member states to issue national legislation containing the provisions of the directive. As a result. all member states now have legislation in place governing the format and content of the financial statements of companies.
  3. Not correct
  4. Not correct

 

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