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T7 Exam Dumps : International Financial Reporting Standards for Compensation Professionals Exam

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International Financial Reporting Standards for Compensation Professionals Exam Questions and Answers

Question 1

What is the purpose of a statement of cash flow?

Options:

A.

To show liability and equity and the manner in which those funds are employed in a manner which is useful for users of the statement

B.

To account for changes in cash during the accounting period in a manner which is useful for users of the statement

C.

To show details of the nature of a company’s operating activities in a manner which is useful for users of the statement

D.

To reconcile the beginning and ending balances of stockholders’ equity in a manner which is useful for users of the statement

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Question 2

The concept that numbers and descriptions must match what really existed or happened is represented by which fundamental qualitative characteristic?

Options:

A.

Predictive value

B.

Complete

C.

Faithful representation

D.

Relevance

Question 3

The IAS 19 standard applies to which of the following groups of employees?

Options:

A.

Directors and management personnel

B.

All employees except casual employees

C.

All employees

D.

All full-time employees