Which of the following is not an environmental actor that could impact on the development of a country's accounting system?
a. Level of education
b. Political system
c. Geographic location
d. Legal system
What is the current acronym for the body most responsible for issuing international accounting standards?
Which of the following bodies has the responsibility to issue international financial reporting standards (IFRS)
a. The International Financial Reporting Interpretations Committee
b. The International Standards Advisory Council
c. The IASC Foundation
d. The International Accounting Standards Board
Which of the following is not a use of international accounting standards?
a. As national requirements.
b. As standards to be violated to improve intercountry comparability..
c. As an international benchmark for those countries that develop their own requirements.
d. By regulatory authorities for domestic and foreign companies
How does the IASC enforce its standards?
a. Through , the International Organization of Securities Commission
b. Through the concept of best endeavors
c. Through the Securities and Exchange Commission
d. Through the Financial Accounting Standards Board
What is the name given to the agreement between the FASB and IASC to harmonize accounting standards?
a. The Norwalk Agreement
b. The London agreement
c. The Washington D C agreement
d. The Paris Accords
What is the title of the form that foreign companies have used to reconcile their financial statements to U. S. GAAP?
a. Form 10-K
b. Form 10-Q
c. Form SX
Which of the following is not a qualitative characteristic contained in the IASB's Framework for the Preparation of Financial Statements?
Which of the following is not an element of financial statements contained in the IASB's Framework for the Preparation of Financial Statements?
Which of the following is seen as a pervasive difference between IASB's and FASB's Conceptual Frameworks?
a. Definition of elements
b. Number of qualitative characteristics
c. Scope of authority
d. Level of detail