Read the statements. Then watch and listen to the news and check the True (T) or False (F) statements

Which of the following statements is a description of the accounting concept of materiality? A: Financial statements are prepared assuming the business will continue for the foreseeable future. B: An item that is omitted or incorrect would affect users' decisions based on the financial statements. C: Profits and income are recognised with caution, losses and expenses are recognised as soon as known. D: The business and its owner are separate accounting entities.

Here are a number of statements. 1-5 are generalizations and A—E are more specific statements. Then match the generalizations with the examples. ?xml:namespace>

会计报表附注应当对会计报表中需要说明的事项作出真实、完整、清晰的说明。（ ）The affiliated notes to the financial statements shall give a true, complete and clear explanation of the matters need to be explained in the financial statements. ( )

Which of the following statement is true? Statement A: Financial statements are prepared on the basis of accounting principles. Statement B: Any changes in the accounting principles or method will affect the utility of the financial statements. ( ) A: A is true but not B B: B is true but not A C: Both are false D: Both are true

Watch the video clip and check (√) the true statements.

We are faced with two apparently ____(contradict) statements.

Read the three statements. Match the people to their jobs.

Watch the video. Read the statements. Choose T or F.

A contingent asset must not be recognised as an asset in the financial statements.