Exercise 1-1

1. Relevance
2. Material
3. Faithful representation
4. Neutral
5. Comparability
6. Consistency
7. Verifiability
8. Timeliness
9. Understandability
10. Going Concern
11. Assets
12. Liability
13. Equity
14. Income
15. Expenses

Exercise 1-2

1. Recognition
2. Measurement
3. Historical Cost
4. Current Cost
5. Fair Value
6. General-purpose financial statements
7. International Accounting Standards Board (IASB)
8. Notes to Financial Statement
9. Other Comprehensive Income
10. Profit or loss
11. Total Comprehensive Income
12. Statement of Financial Position
13. Income Statement
14. Statement of Changes in Equity
15. Statement of Cash Flows

Exercise 1-3

1. True
2. True
3. False
4. False
5. True
6. True
 7. True
8. True
9. False
10. True

Exercise 1-4

1. True
2. True
3. False
4. False
5. True
6. False
7. True
8. True
9. False
10. True