Tuesday 22 October Answer

Today we have a question relating to the new 2019 syllabus for F1.

The question was:

The IASB has identified seven principles of effective communication, stating that information contained within financial statements. Which one of the following is not one of the seven principles?

 

This question relates to ‘B: Financial Statements’ and is a slightly different version of the question in one of our free mock exams.

The correct answer was…

Principles based

The seven principles are:

  1. Entity-specific
  2. Clear and simple
  3. Comparable
  4. Free from unnecessary duplication
  5. In an appropriate format
  6. Linked to relevant information
  7. Organised to highlight important matters

For more free questions use our Free CIMA Mock Exams for the 2019 syllabus use the menu above to access our little shop, at the same time you’ll have the option to upgrade to our + package which includes 50% more questions, feedback and both revision and timed assessment modes plus much more.

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