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According to S

Question 9

Multiple Choice

According to s.224 (a) of the ASIC Act (2001) ,accounting standards should result in financial information,which has which of the following characteristics?
I allows user to make decisions about allocating scarce resources
II assists directors in discharging their obligations in relation to financial reporting
III is able to be prepared on a timely basis
IV is readily understandable
V facilitates comparability
VI is relevant and reliable


A) I,IV and VI only
B) I,III,IV and VI
C) I,II,IV,V and VI
D) all of the above

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