1. Which of the following measurement basis does not exist? (a) Historical cost (b) Decreasing cost (c) Realizable value (d) Present value 2. Information which, if not disclosed on the financial...

1. Which of the following measurement basis does not exist? (a) Historical cost (b) Decreasing cost (c) Realizable value (d) Present value

2. Information which, if not disclosed on the financial statements, could influence the economic decisions of users, is known as: (a) Material (b) Substantial (c) Interesting (d) Important (e) None of these