O-LevelAccountingAccounting principles and policies7707/11 · May/June 2021 · Q351 Mark
Which international accounting objectives are described by the following statements? 1 Information in financial statements must be free from material error and bias. 2 Users must be able to identify differences and similarities between information in different financial statements.
Astatement 1: comparability, statement 2: understandability
Bstatement 1: reliability, statement 2: comparability
Cstatement 1: reliability, statement 2: understandability
Dstatement 1: understandability, statement 2: reliability
✓ Correct answer
B: statement 1: reliability, statement 2: comparability
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