QUESTION 37
Current cost accounting reflects an approach to capital maintenance based on maintaining which one of the following?

QUESTION 38
In individual countries, Generally Accepted Accounting Principles (GAAP) is primarily a combination of

QUESTION 39
Which one of these is a disadvantage of a conceptual framework?

QUESTION 40
Which one of these is a key principle of good corporate governance?

QUESTION 41
A company’s financial report is compliant with International Financial Reporting Standards. Where in the report would an investor find the amount of money received by the company for investment activities?

QUESTION 42
In an efficient market, normally if interest rates rise, share prices will

QUESTION 43
Which one of the following countries has the view that Generally Accepted Accounting Principles (GAAP) refers to accounting practices which are regarded as permissible by the accounting profession?

QUESTION 44
Which one of the following is not a function of the trustees of the International Financial Reporting Standards Foundation (IFRS Foundation)?

QUESTION 45
Financial information is reliable if it
I)prefers substance over legal form.
II)is neutral and without any material error.
III)is complete and has been made with prudence.
IV)is understandable to those with no knowledge of accounting.

QUESTION 46
Which one of the following would be recognised in the statement of profit or loss and other comprehensive income?

QUESTION 47
The concept of transparency in corporate governance means that listed companies should disclose

QUESTION 48
According to the IASB’s Conceptual Framework, the key reason general purpose financial statements are produced is to satisfy the information needs of

QUESTION 49
Which one of the following is not an Australian Securities Exchange (ASX) principle of good corporate governance?

QUESTION 50
The ability of a company to pay its bills when and as they fall due is a measure of

QUESTION 51
Which of the following represents a principal-agent relationship?
I.
shareholders-auditors
II.
shareholders-management
III.
security exchange-company
IV.
board of directors-employees

QUESTION 52
The objective of the International Accounting Standards Board (IASB) is to

QUESTION 53
In a strong efficient market, the finance manager will