ATPB413 REVISION SECT2M

Question 1

The sociological approach considers how accounting impacts and is influenced by logical reasoning factors.

Accepted Answer

1

Question 2

Organization issued IFRS S1 and IFRS S2 for climate-related financial reporting.

Accepted Answer

ISSB

Accepted Answer

issb

Question 3

Financial statements alone are sufficient to provide all necessary information to investors.

Accepted Answer

x

Question 4

A company with a high debt-to-equity ratio is more likely to __________________ recognition.

Accepted Answer

1

Question 5

Residual loss is the remaining cost due to agency problems, even after monitoring and bonding efforts.

Accepted Answer

o

Question 6

IFRS and GAAP are accounting standards that primarily exist to benefit large corporations.

Accepted Answer

x

Question 7

The IFRS Foundation has no role in climate-related financial reporting.

Accepted Answer

x

Question 8

The final step in the due process of IFRS standard setting is get approval by national regulators.

Accepted Answer

x

Question 9

One way to reduce agency costs is by increasing transparency in financial reporting.

Accepted Answer

o

Question 10

A company issuing a positive earnings forecast is an example of signaling.

Accepted Answer

o

Question 11

Executives may commit to ethical guidelines is apart of bonding cost.

Accepted Answer

o

Question 12

MASB follows a similar due process to IFRS in setting MFRS standards.

Accepted Answer

o

Question 13

Organizations is responsible for overseeing accountants in the Malaysian public sector is MIA

Accepted Answer

x

Question 14

GAAP is principles-based.

Accepted Answer

x

Question 15

Which of the following is NOT a method to reduce agency problems?

Accepted Answer

2

Question 16

Overseeing MASB is the function of _____

Accepted Answer

FRF

Accepted Answer

frf

Question 17

Which accounting standard applies to Islamic financial institutions?

Accepted Answer

0

Question 18

Private Interest Theory suggests that accounting regulations are influenced by:

Accepted Answer

1

Question 19

Which two major accounting standards are the focus of global convergence efforts?

Accepted Answer

0

Question 20

The process of reducing differences between national and international standards refers to:

Accepted Answer

convergence

Accepted Answer

CONVERGENCE