Which, if any, of the following statements about accounting concepts and the characteristics of financial
information are correct?
1 The concept of substance over form means that the legal form of a transaction must be reflected in financial
statements, regardless of the economic substance.
2 The historical cost concept means that only items capable of being measured in monetary terms can be
recognised in financial statements.
3 It may sometimes be necessary to exclude information that is relevant and reliable from financial statements
because it is too difficult for some users to understand.
A 1 and 2 only
B 2 and 3 only
C 1 and 3 only
D None of these statements is correct D | 
发表于 2008-5-17 09:47
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