Most companies located outside the United States follow the standards for prepararation and presentation of financial statements that are known as the
A. United Nations Principles for Accounting (UNPAs).
B. International Financial Reporting Standards (IFRSs).
C. World Bank Standards for Financial Statements (WBSFSs).
D. Principles of the European Union for Accounting (PEUAs).
Answer: B
You might also like to view...
A(n) ________ is a person responsible for an organizational development (OD) program.
A. change agent B. program agent C. symbiotic agent D. active agent
Disintermediation occurs when product or service producers cut out intermediaries and sell directly to final buyers
Indicate whether the statement is true or false
An auditor has been asked to report on the balance sheet of Kane Company but not on the other basic financial statements. The auditor will have access to all information underlying the basic financial statements. Under these circumstances, the auditor:
A. Should refuse the engagement because of a departure from generally accepted auditing standards. B. Should refuse the engagement because there is a client-imposed scope limitation. C. May accept the engagement but must disclaim an opinion because of an inability to apply the procedures considered necessary. D. May accept the engagement.
Department heads and division managers are examples of __________.
Fill in the blank(s) with the appropriate word(s).