Timeliness

Understandability

Comparability

2 only is true

1 and 2 are both false

1 only is true

1 and 2 are both true

2 and 3 are correct

1, 2 and 3 are correct

1 and 2 are correct

1 and 3 are correct

1 only is correct

A present obligation arising from a future event, the settlement of which is expected to result in an outflow of future economic benefits from the entity.

A future obligation arising from a past event, the settlement of which is expected to result in an outflow of future economic benefits from the entity.

A present obligation arising from a past event, the settlement of which is expected to result in an inflow of future economic benefits to the entity.

A future obligation of the entity to transfer an economic resource as a result of past events.

A present obligation of the entity to transfer an economic resource as a result of past events.

1 and 2 are both true 

1 is false and 2 is true 

 1 and 2 are both false

1 is true and 2 is false 

An exposure draft

A working paper

A discussion paper

A standard

An interpretation

The development and publication of IFRSs and approving interpretations of IFRSs developed by the IFRS Interpretations Committee. 

Dealing with issues arising from an IFRS, which are not specifically covered by the IFRS. 

Providing guidance on issues arising from the application and interpretation of IFRS.

Monitoring and governing the activities of the IFRS Foundation.