New Release T7 Certified Compensation Professional CCP Questions

International Financial Reporting Standards for Compensation Professionals Exam Questions and Answers

Question 9

When a company provides information that is of sufficient importance to influence the judgment and decisions of an informed user, which principle of Level 3 of the conceptual framework is being represented?

Options:

Faithful representation

Measurement

Full disclosure

Going concern

Question 10

A US-based company reports information about pending lawsuits in the notes to its financial statements. This is an example of which basic principle of accounting?

Options:

Full disclosure

Expense recognition

Going concern

Constraints

Question 11

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

Options:

Predictive value

Complete

Faithful representation

Relevance

Question 12

What is the purpose of a statement of cash flow?

Options:

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

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

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

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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New Release T7 Certified Compensation Professional CCP Questions

International Financial Reporting Standards for Compensation Professionals Exam Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce