Question Details

Which of the following is an ethical concern of accountants 



1.	What is "expectation gap"?
a.	The difference between what the public thinks the accountant is not doing and what the accountant knows they don't do.
b.	The difference between what the public thinks the accountant is doing and what Congress says the accountant is doing.
c.	The difference between what the public thinks the accountant is doing and what the accountant thinks they can do.
d.	The difference between what the accountant is doing and what the Courts say the accountant should be doing.
	2.	Which of the following is an ethical concern of accountants ?
a.	Earnings manipulation.
b.	Conservative accounting.
c.	Industry practices.
d.	None of the above.
	3.	The international financial reporting environment includes challenges in financial reporting including all of the following except:
a.	Political environment.
b.	Expectations gap.
c.	Decision-usefulness.
d.	Ethics.
	4.	Significant financial reporting issues facing global financial reporting and efficient capital allocation include all of the following except:
a.	How to provide backward-looking information.
b.	How to report nonfinancial measures such as customer satisfaction.
c.	How to provide forward-looking information.
d.	How to provide real-time financial statement information.
	5.	The Norwalk Agreement
a.	Sets forth fundamental objectives and concepts used in developing future standards of financial reporting.
b.	Formalized the FASB- and IASB- commitment to convergence of U.S. GAAP and international standards.
c.	Facilitates cross-border cooperation, reduces global systemic risk, protects investors, and ensures fair and efficient markets.
d.	All of the choices are correct regarding the Norwalk Agreement.




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