The objective of _________ is to establish the principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer.

Related MCQs

• _____________ establishes the principles that an entity applies when reporting information about the nature, amount, timing and uncertainty of revenue and cash flows from a contract with a customer.
• ___________ establishes principles for presenting and preparing consolidated financial statements when an entity controls one or more other entities.
• A _________ includes the income and expenses of a subsidiary in the consolidated financial statements from the date it gains control until the date when the reporting entity ceases to control the subsidiary.
• The objective of ________________is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosures to apply in relation to finance and operating leases.
• _____________ refers to the process of adjusting the financial statements of a company to show the real financial position of the company during the inflationary period.
• ______________ is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.
• The tax effect on the timing differences is termed as ___________________.
• ___________ transactions are transactions between entities within a group of entities and that group is consolidated into one set of Consolidated Financial Statements.
• _______________ are the financial statements of a group of companies.
• _________is about the measurement of the items in the consolidated financial statements, such as goodwill, non-controlling interest, etc.