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underlying assumption

This topic has 3 replies, 2 voices, and was last updated 2 years ago by xyzc.

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December 15, 2022 at 12:29 pm #674669
xyzc
Participant
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The Conceptual Framework identifies which of the following as an underlying assumption in preparing financial statements.
Going concern
materiality
Substance over form
Accruals
Why the correct answer is not substance over form. Why the correct answer is correct
December 30, 2022 at 9:13 am #675213
P2-D2
Keymaster
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Because substance over form is not one of the underlying assumptions. What do you believe the underlying assumption to be?
January 28, 2023 at 8:26 am #677492
xyzc
Participant
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Are qualitative characteristics such as substance over form not underlying assumptions
January 28, 2023 at 8:28 am #677493
xyzc
Participant
- Topics: 413
- Replies: 175
What are the underlying assumptions
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