Day: December 27, 2024

Accounting Multiple Choice Question – 27 December 2024

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

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The depreciation policies adopted by Alex Ltd have remained unchanged for the past ten years.

According to the Conceptual Framework for Financial Reporting, in relation to its financial information, this fact supports the qualitative characteristic of?

Select ONE answer:

  1. Understandability
  2. Relevance
  3. Timeliness
  4. Comparability

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 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct == > Comparability from one year to the next is helped by companies like Alex Ltd choosing a particular accounting policy and remaining with it.

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