Question Details

Ethical issues in financial accounting are governed by the AICPA.




TRUE OR FALSE:
1.	The expectations gap is due to the difference between what the public thinks accountants should do and what accountants think they can do.

	2.	Financial reports in the early 21st century did not provide any information about a company- soft assets (intangibles).

	3.	Accounting standards are now less likely to require the recording or disclosure of fair value information.

	4.	U.S. companies that list overseas are required to use International Financial Reporting Standards, issued by the International Accounting Standards Board.

	5.	Ethical issues in financial accounting are governed by the AICPA.



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