Question 1

It is easier to generate "fictitious" cash flow figures than to produce "fictitious" profit figures

Accepted Answer

A) True 
 B)False

Question 2

Can a company hold a "provision","just in case" of an emergency?

Accepted Answer

A)  No. "Just in case" is not a good enough reason 
B)  Yes. In fact provisions are an essential part of "prudence" 
C)  No. Provisions can never be held 
D)  Yes. Companies have an obligation to build provisions for all sorts of scenarios 
A)  No. "Just in case" is not a good enough reason 
B)  Yes. In fact provisions are an essential part of "prudence" 
C)  No. Provisions can never be held 
D)  Yes. Companies have an obligation to build provisions for all sorts of scenarios

Question 3

Creative accounting is not only concerned with maximizing profit and may include income smoothing which may require understating profits

Accepted Answer

A) True 
 B)False

Question 4

According to the Centre for Social and Environmental Accounting Research (CSEAR),which of the following is not an aspect of social reporting?

Accepted Answer

A)  Investigating the social effects of current accounting practice 
B)  Investigating how to ameliorate the adverse affects of accounting practice 
C)  Reporting political and charitable donations 
D)  Studying other possible ways of providing accounts of organizations 
A)  Investigating the social effects of current accounting practice 
B)  Investigating how to ameliorate the adverse affects of accounting practice 
C)  Reporting political and charitable donations 
D)  Studying other possible ways of providing accounts of organizations

Question 5

Which of the following statements about The Corporate Report (1975)is false?

Accepted Answer

A)  The Corporate Report recommended a statement of value-added 
B)  The Corporate Report recommended an employment report 
C)  The Corporate Report recommended a Corporate Social Responsibility report 
D)  The Corporate Report recommended a statement of future objectives 
A)  The Corporate Report recommended a statement of value-added 
B)  The Corporate Report recommended an employment report 
C)  The Corporate Report recommended a Corporate Social Responsibility report 
D)  The Corporate Report recommended a statement of future objectives

It is easier to generate "fictitious" cash flow figures than to produce "fictitious" profit figures

Can a company hold a "provision","just in case" of an emergency?

Creative accounting is not only concerned with maximizing profit and may include income smoothing which may require understating profits

According to the Centre for Social and Environmental Accounting Research (CSEAR),which of the following is not an aspect of social reporting?

Which of the following statements about The Corporate Report (1975)is false?

The Statement of Financial Position Balance Sheetand What It Tells Us

The Income Statement Profit and Loss Account

The Development of Financial Reporting

Ratios and Interpretation: a Straightforward Introduction

How the Stock Market Assesses Company Performance

Cash Flow Statements: Understanding and Preparation

Advanced Interpretation of Company and Group Accounts

Bookkeeping to Trial Balance

Trial Balance to Final Accounts

Financing a Business

Management of Working Capital

Introduction to Management Accounting

Investment Appraisal

Budgetary Planning and Control

Absorption Costing

Marginal Costing and Decision-Making

Standard Costing and Variance Analysis

Incomplete Records

Filters

Exam 8: Current Issues in Financial Reporting

It is easier to generate "fictitious" cash flow figures than to produce "fictitious" profit figures

Can a company hold a "provision","just in case" of an emergency?

Creative accounting is not only concerned with maximizing profit and may include income smoothing which may require understating profits

According to the Centre for Social and Environmental Accounting Research (CSEAR),which of the following is not an aspect of social reporting?

Which of the following statements about The Corporate Report (1975)is false?

The Statement of Financial Position Balance Sheetand What It Tells Us

The Income Statement Profit and Loss Account

The Development of Financial Reporting

Ratios and Interpretation: a Straightforward Introduction

How the Stock Market Assesses Company Performance

Cash Flow Statements: Understanding and Preparation

Advanced Interpretation of Company and Group Accounts

Bookkeeping to Trial Balance

Trial Balance to Final Accounts

Financing a Business

Management of Working Capital

Introduction to Management Accounting

Investment Appraisal

Budgetary Planning and Control

Absorption Costing

Marginal Costing and Decision-Making

Standard Costing and Variance Analysis

Incomplete Records

Filters