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Financial Control of the Organization.d

Financial Control of the Organization.d — вариант 4

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12 вопросов Вариант 4 Доступ 7 дней
Содержание теста

Вопросы и варианты

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Вопрос 1

The Management Discussion and Analysis Section of the annual report:

  1. is required by the SEC.
  2. is optional but normally included in the annual report.
  3. is required by the SEC only if the company has suffered from unfavorable trends or there are significant uncertainty concerning liquidity of the company.
  4. is required by the SEC only if they have a qualified audit opinion.
Вопрос 2

The substance of annual report is:

  1. grossly pictures and cover page.
  2. the audited financial statements
  3. the management analysis.
  4. the charts and tables
Вопрос 3

Auditor’s opinion that the consolidated financial statements provide a “true and fair view of the net assets, financial position and results of the Group” is also known as:

  1. qualified opinion.
  2. adverse opinion
  3. unqualified opinion.
  4. fair opinion
Вопрос 4

An unqualified opinion:

  1. is one made with reservation.
  2. is one made without reservation
  3. is made when auditors are not fully qualified to audit the financial statements.
  4. is given when there is a conflict of interest.
Вопрос 5

A qualified opinion is given when:

  1. as a whole, the financial statements are fairly presented, except for disagreement on how to treat a particular transaction
  2. disagreement on how to treat a few transactions
  3. the auditor is fully satisfied with the preparation of the financial statements.
  4. the financial statements were objective and transparent
Вопрос 6

Accountants follow guidelines for professional measurement and disclosure of financial information called:

  1. IASB.
  2. IFRS
  3. FASB
  4. SEC
Вопрос 7

International financial reporting standards are set by the:

  1. IASB
  2. GAAP
  3. FASB
  4. SEC
Вопрос 8

The IASB:

  1. is working towards a convergence of standards with the FASB.
  2. will not accept FASB rules.
  3. does not want US companies to adopt IFRS standards.
  4. feels that the global use of IFRS will significantly increase costs of doing global business.
Вопрос 9

The heading John Smith, Capital, indicates the owners’ equity of a:

  1. proprietorship
  2. corporation
  3. not-for-profit.
  4. regulatory body.
Вопрос 10

To be useful, accounting information must have the fundamental qualitative characteristics of:

  1. understandability, timeliness, reliability and relevance.
  2. timeliness, comparability, reliability and relevance.
  3. materiality, understandability, timeliness and comparability.
  4. understandability, comparability, reliability and relevance.
Вопрос 11

All of the following are characteristics of useful accounting information EXCEPT:

  1. comparability
  2. relevance
  3. informative
  4. reliability
Вопрос 12

When information is important enough to the informed user, so that, if it was omitted or erroneous, it would make a difference in the user’s decision, it is:

  1. comparable
  2. material
  3. timely
  4. understandable