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Which one of the following alternatives is incorrect?
a
The purpose of the Conceptual Framework is to override any particular disclosure or measurement requirement in any IFRS
b
The purpose of the Conceptual Framework is to assist in developing future standards.
c
The purpose of the Conceptual Framework is to assist in harmonising legislation and reducing the number of alternative accounting treatments.
d
The purpose of the Conceptual Framework is to assist users in interpreting the information in interpreting the financial statements when compiled according to IFRS.
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Telephone expense in arrears unpaid at the end of an entity's financial year will be recorded in the general journal of the entity by:
a
Debiting telephone expense and crediting bank
b
Debiting accrued expense and crediting bank
c
Debiting telephone expense and crediting accrued expense
d
Debiting bank and crediting telephone expense
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