Which of the following is a source of nonauthoritative accounting guidance and literature?.
Interpreted strictly by the company’s suppliers.
Referred to as an economic consequence perspective.
The sole responsibility of the Securities and Exchange Commission.
Considering and understanding how business decisions affect the financial statements is.
T he impact of accounting reports on various segments of our economic society is the definition of the concept of.
This belief is an example of the concept of
Some accountants maintain that accounting standards are as much a product of political action as they are of careful logic or empirical findings.
Small CPA firms that audit smaller companies must keep up to date on all the same requirements as large international firms, but they cannot afford the specialists that are available on a centralized basis in the large firms.
The cost of complying with GAAP requirements may cause a small business to forgo the development of other, more relevant information.
Small businesses do not need to keep financial records.
If a small business omits a GAAP requirement from audited financial statements, a qualified or adverse opinion may be rendered.
Which of the following is not a consequence of the standards overload problem to small businesses?.
Which of the following types of pronouncements are intended to establish the objectives and concepts that the FASB will use in developing standards of financial accounting and reporting?.
Statements of Financial Accounting Standards.
Which of the following types of pronouncements now establishes generally accepted accounting principles?.
Which of the following is a public sector accounting standard setter?.
Which of the following committees recommended abolishing the Accounting Principles Board and replacing it with the Financial Accounting Board ?.
Accounting for the investment tax credit.
What controversy originally highlighted the need for standard setting groups to have more authority?.
American Institute of Certified Public Accountants.
45 PIECES BALANCE GAME PROFESSIONAL
Which of the following is the professional organization of university accounting professors?.
The emerging accounting problems were not being investigated and solved quickly enough by the part-time members.
The accounting standards developed were dissimilar to those developed by the International Accounting Standards Committee.
The largest eight public accounting firms (at that time) were automatically awarded one member, and there were usually five or six other public accountants on the APB. The individuals serving on the board had full-time responsibilities elsewhere that might influence their views of certain issues.
The independence of the members of the APB.
Which of the following was not a criticism of the development of accounting standards by the Accounting Principles Board?.
Who has been given credit or developing the double-entry system of bookkeeping?.
Pacioli’s work, Summa de Arithmetica Geometria Proportioni et Proportionalita,.
What historical evidence of the business operations of the private estate of Apollonius was discovered early inthe20th century?.
International Accounting Standards Committee.
Which of the following bodies has the ultimate authority to issue accounting pronouncements in the United States?.
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