International Accounting 4E Timothy DoupnikHector Perera Test Bank Chapter 002Word格式.docx
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International Accounting 4E Timothy DoupnikHector Perera Test Bank Chapter 002Word格式.docx
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meaninthecontextofinternationalaccounting?
Theprocessofcombiningthefinancialstatementsofforeignsubsidiariesintotheparentcompany'
sfinancialstatements
Theprocessofreducingaccountingdifferencesacrosscountries
Disclosingtheaccountingmethodsusedinpreparingthefinancialstatements
Assessingtheexposureresultingfrominadequateinternalcontrols
3.
Itisgenerallybelievedthatthe1997financialcrisisinEastAsiawaspartlyduetoaccountingfactorsinthatpartoftheworld.Whichofthefollowingaccountingvalueswaslackinginthatpartoftheworldandtherebycontributedtothecrisis?
Professionalism
Statutorycontrol
Uniformity
Transparency
4.
WhichofthefollowingisNOTaproblemcausedbyaccountingdiversity?
Lackofqualifiedinternationalauditors
Preparationofconsolidatedfinancialstatements
Accesstoforeigncapitalmarkets
Comparabilityoffinancialstatements
5.
Differencesinlegalsystemsusedinvariouscountrieshavebeencitedasonereasonfordiversityinaccountingpractices.Whatarethemajortypesoflegalsystems?
Commerciallawandaccountinglaw
Rulesandregulations
Writtenlawandunwrittenlaw
Commonlawandcodelaw
6.
Theaccountingstandardsincodelawcountriestendtobe:
verydetailed.
formulatedbyorganizationssuchastheFASB.
statedgenerallywithoutmuchguidanceonaccountingprocedures.
veryconservative.
7.
Whatislikelytobethesourceofaccountingstandardsincommonlawcountries?
Taxlaw
Non-governmententitiessuchastheFASB
Federalandlocallegislatures
TheInternationalAccountingStandardsBoard
8.
Whatisthelikelyresultwhenaccountingrulesareleftuptoprofessionalassociationsratherthanbeinglegislatedbygovernmentalbodies?
Verygeneralaccountingrulesarecreated,asincodelawcountries.
Verydetailedrulesforpracticearecreated,asincommonlawcountries.
Verygeneralaccountingrulesarecreated,asincommonlawcountries.
Verydetailedrulesforpracticearecreated,asincodelawcountries.
9.
RelativetoaccountingstandardsincountriessuchasGermany,whoseaccountinglawsareonly47pageslong,accountingpracticeintheU.S.isoftendescribedasbeingsubjectto:
standardsoverload.
standardsminimization.
theoptimalamountofaccountingregulation.
idealaccountingstandards.
10.
IncodelawcountriessuchasGermany,France,andJapan,taxlawandaccountingstandardstendtobe:
unrelated.
verydifferent.
general.
detailoriented.
11.
Ifmostofacountry'
sbusinessfinancingcomesfromfamilies,banks,andthegovernment,whatshouldweexpectintermsofinformationdisclosuretothepublic?
Relativelylittledisclosurebecausethepublicisn'
tamajorfactor
Agreatdealofdisclosurebecauseitwillbetheonlywayforinterestedpartiestolearnaboutthecompany
Completeopennessofaccountingrecords
Nodisclosureatall
12.
IncountriessuchastheU.S.,thereisgreatdemandforpublicdisclosureofaccountinginformation.Whatisthereasonforthis?
Corporatemanagementisn'
ttrustworthy.
Businessesrelyheavilyonfinancingthroughissuanceofstocktothepublic.
TheAmericanpopulaceisbetterabletoreadfinancialstatementsthanpeopleinothercountries.
U.S.governmentofficialsaregenerallymembersofcorporateboardsofdirectorsandcangetalltheinformationtheyrequire.
13.
HistoricalcostistheprimarybasisforassetvaluationunderU.S.GAAP.WhyishistoricalcostNOTasimportantintheaccountingsystemsofLatinAmericaasintheU.S.?
HistoricalcostsaretoodifficulttocalculateinthecurrenciesusedinCentralandSouthAmerica.
ThecountriesofLatinAmericahaveexperiencedveryhighratesofinflation,whichwouldmakehistoricalcostsmeaninglesstoreadersoffinancialstatements.
ThereisverylittleforeigndirectinvestmentinthecountriesofLatinAmerica,sofewassetsneedtobeaccountedfor.
InLatinAmerica,assetpricesareverystable,makinghistoricalcostsequaltoreplacementcosts,soitdoesn'
tmatterwhichvaluationbasisisused.
14.
IntheUnitedStates,conformitybetweenpresentationofthefinancialstatementsandthetaxstatementsisrequiredonlyfor:
goodwill.
depreciation.
gainsorlossesonsecurities.
theuseoftheLIFOinventorycostflowassumption.
15.
Insomecountries,financialaccountingandtaxaccountingaresocloselyrelatedthatthereisverylittleneedtoaccountfordeferredincometaxes.Whichofthefollowingcountrieshasafinancialaccountingsystemthatismostdifferentfromitstaxlaws?
UnitedStatesofAmerica
Japan
Germany
France
16.
IntheNobesclassificationofaccountingsystems,micro-basedaccountingsystemsareorientedtoward:
governmenteconomics.
businesspractices.
taxlaws.
codelaw.
17.
AccordingtotheresearchofChristopherNobes,themostrelevantfactorindeterminingthepurposeoffinancialreportingis:
thefinancingsystemofthecountry.
religiousdifferencesacrosscountries.
thepopulationofthecountry.
thestrengthofthecountry'
saccountingprofession.
18.
AccordingtotheresearchofChristopherNobes,whatistheprimarydeterminantoftheaccountingsystemsindevelopingcountries?
Thenatureoftheirfinancingsystem
Theaccountingsystemofcountriesthatdominatetheirculture
Thesizeoftheircapitalmarket
Thestrengthoftheirtaxcode
19.
The"
FairPresentation/FullDisclosureModel"
isaclassificationschemeusedby:
Germany.
Japan.
theUnitedStatesandtheUnitedKingdom.
Brazil.
20.
Theextenttowhichhierarchyandunequalauthoritydistributionininstitutionsandorganizationsareacceptedwithinacultureisreferredtoas:
uncertaintyavoidance.
masculinity.
individualism.
powerdistance.
21.
Aculturalpreferenceforalooselyknitsocialfabricratherthanatightlyknitsocialfabricisreferredtoas:
22.
Aculturalemphasisonvaluesofperformanceandachievementratherthanvaluesofrelationships,caring,andnurturingisreferredtoas:
23.
Whattermisusedtorefertoaculturalaversiontoambiguoussituations?
Uncertaintyavoidance
Masculinity
Powerdistance
Individualism
24.
Aculturalpreferenceforaccountingsystemsthatrelyoncompliancewithlegalrequirementsiscalled:
professionalism.
uniformity.
statutorycontrol.
optimism.
25.
CountriessuchastheU.S.tendtovalueself-regulationofaccounting.Whattermisusedtodefinethissubculture?
Flexibility
Conservatism
26.
transparency"
meaninaccounting?
Anemphasisonconfidentiality
Restricteddisclosureofaccountinginformation
Flexibilityintheapplicationofaccountingstandards
Opennessofaccountinginformation
27.
Whattermisusedtodescribeaccountingstandardsthatencouragerisk-takinginfinancialreporting?
Optimism
28.
InGray'
sframeworkforaccountingsystemdevelopment,whichofthefollowingcountriestendstohavearelativelyhighdegreeoftransparencyintheircompanies'
financialstatements?
Switzerland
UnitedKingdom
SaudiArabia
29.
sframeworkforaccountingsystemdevelopment,whichofthefollowingcountriestendstoshowarelativelyhighpreferenceforconservativeaccountingstandards?
Norway
30.
sframeworkforaccountingsystemdevelopment,optimismisavalueofaccountingstandardsthatwouldmostlikelybefoundin_____.
Australia
Mexico
Brazil
31.
sframeworkforac
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