An economic profile of the Pacific Rim2024-02-14Business buzzwords Penny stock2024-02-14 Report a question What's wrong with this question? You cannot submit an empty report. Please add some details. 12345678910 International accounting standards 2 Advanced Business English practice 10 multiple-choice questions If you log in, you will get the results via email. Category: business-advanced 1. High quality accounting standards are critical .......... the development of a high quality global financial reporting structure. of over to under Category: business-advanced 2. Different accounting traditions have developed around the world in response to varying needs of users for whom the financial information is prepared; in some countries, accounting standards have been .......... primarily by the needs of private creditors, while in other countries the needs of tax authorities or central planners have been the predominant influence. drawn sketched written shaped Category: business-advanced 3. Establishing and maintaining high quality accounting standards are critical to the U.S. approach to regulation of capital markets, which depends on providing high quality information to facilitate .......... investment decisions. advisory advised informational informed Category: business-advanced 4. High quality accounting standards are essential to the efficient functioning of a market economy because decisions about the allocation of capital rely heavily on .......... and understandable financial information. creditable accredited credence credible Category: business-advanced 5. When issuers prepare financial statements using more than one set of accounting standards, they may find it difficult to explain to investors the accuracy of both sets of financial statements if significantly different operating results, financial .......... or cash flow classifications are reported under different standards for the same period. transactions positions decisions operations Category: business-advanced 6. Questions about the believability of an entity's financial reporting are likely where the differences highlight how one approach .......... poor financial performance, lack of profitability, or deteriorating asset quality. dwells on skims over underscores masks Category: business-advanced 7. Also, the audit is an important element of the financial reporting structure because it subjects information in the financial statements to independent and objective .......... increasing the reliability of those financial statements. legality calumny autonomy scrutiny Category: business-advanced 8. Recent events in the United States have highlighted the importance of high quality auditing standards and, at the same time, have .......... questions about the effectiveness of today's audits and the audit process. assumed raised asked mounted Category: business-advanced 9. Audit firms should have a responsibility to .......... to the highest quality auditing practices, on a world-wide basis, to ensure that they are performing effective audits of global companies participating in the international capital markets. comply adhere cohere abide Category: business-advanced 10. Historically, audit firms have developed internal quality control systems based on their domestic operations; however, as clients of audit firms have shifted their focus to global operations, audit firms have followed .......... and now operate on a world-wide basis. along practice suit precedent Your score is The average score is 0% LinkedIn Facebook Twitter Restart quiz Share0