- CFA Exams
- 2021 CFA Level I Exam
- Study Session 6. Financial Reporting and Analysis (1)
- Reading 20. Financial Reporting Standards
- Subject 4. General Requirements for Financial Statements
CFA Practice Question
Under IFRS the preparation of a complete set of financial statements is best described as a(n) ______.
B. general requirement for financial statements
C. qualitative characteristic of the IFRS Framework
A. objective of financial reporting
B. general requirement for financial statements
C. qualitative characteristic of the IFRS Framework
Correct Answer: B
The preparation of a complete set of financial statements is a general requirement for financial statements.
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