Morning guys!
How many of these riddles can you answer?
1. I am an accounting standard, I determine how to recognize and measure all you earn? What am I?
2. I occur when carrying amount exceeds recoverable value. What am I?
3. I am the only financial statement prepared on cash basis. What am I?
4. We are the 3 local standards which are not included in IFRS but still in use in Nigeria. What are we?
5. I am a threat that occurs due to a long or close relationship or being too sympathetic with clients. What am I?
6. I am an expense in the profit or loss account remitted to the government. What am I?
7. I am the process of marrying my own accounts with my parent's accounts. What am I?
8. I am the longest of the 5 fundamental principles in the code of ethics. What am I?
9. I am the stock valuation method prohibited by IAS 2 - Inventory . What am I?
10. I am a type of asset governed by IAS 41 - Agriculture. What am I?
11. I am the reward for labour expensed in the profit or loss account. What am I
12. I am the only item required to be treated prospectively by IAS 8. What am I?
13. I am the standard that prescribes the treatment for properties held for rental income and capital appreciation. What am I?
14. I am the point where no profit or loss is made. What am I?
15. I am the ratio that expresses the relationship between current assets and current liabilities. What am I?
Let's get learning! Comment below! Answers would be uploaded soon.
Note: You can now subscribe to the blog posts.
For any clarifications, please mail:
Nneomakristen@gmail.com
Have a wonderful day!
How many of these riddles can you answer?
1. I am an accounting standard, I determine how to recognize and measure all you earn? What am I?
2. I occur when carrying amount exceeds recoverable value. What am I?
3. I am the only financial statement prepared on cash basis. What am I?
4. We are the 3 local standards which are not included in IFRS but still in use in Nigeria. What are we?
5. I am a threat that occurs due to a long or close relationship or being too sympathetic with clients. What am I?
6. I am an expense in the profit or loss account remitted to the government. What am I?
7. I am the process of marrying my own accounts with my parent's accounts. What am I?
8. I am the longest of the 5 fundamental principles in the code of ethics. What am I?
9. I am the stock valuation method prohibited by IAS 2 - Inventory . What am I?
10. I am a type of asset governed by IAS 41 - Agriculture. What am I?
11. I am the reward for labour expensed in the profit or loss account. What am I
12. I am the only item required to be treated prospectively by IAS 8. What am I?
13. I am the standard that prescribes the treatment for properties held for rental income and capital appreciation. What am I?
14. I am the point where no profit or loss is made. What am I?
15. I am the ratio that expresses the relationship between current assets and current liabilities. What am I?
Let's get learning! Comment below! Answers would be uploaded soon.
Note: You can now subscribe to the blog posts.
For any clarifications, please mail:
Nneomakristen@gmail.com
Have a wonderful day!
