alleryStart learning →Which one of these is a quality on which IFRS is based, along with relevance and reliability?
ASecrecy
BLiquidity
CComparability
DProfitability
Answer & Solution
Correct answer: C. Comparability
Comparability is among the qualities, along with understandability, relevance, materiality and reliability, that IFRS rests on.
Keep practising Ethics with Accounting Concepts
Browse all Ethics with Accounting Concepts questions for CA Final, or explore more Financialreporting topics.
Related questions
Which is a noted limitation of accounting standards?Since which year have all listed EU companies been required to use IFRS?How is an accrued expense shown on the balance sheet?Accrued revenue appears on the balance sheet as which item?Which of these is a warning sign about an entity's ability to continue as a going concern?An auditor evaluates going concern for a period of at least how long after the date of theWhich international auditing standard deals with the going concern basis?What may an auditor issue if management wrongly uses the going concern assumption?