1.【Answer】C。
The Conceptual Framework requires information to be presented understandably, but without omitting complex issues.
2.【Answer】A。
Faithful representation.
The substance of the transaction is likely to be that of a secured loan.
3.【Answer】C。
Relevance.
The historical cost of the properties will be less relevant than their current value.
4.【Answer】C。
The financial statements should be prepared on a different basis. The basis of valuation of assets will be affected.
5.【Answer】D。
This is a change of accounting policy, so the information will be amended retrospectively.
