Exam 6: The Search for Objectives

Moonitz felt that APB Statement 4 should have been issued as an opinion rather than as a statement because departures from GAAP made in a statement did not have to be disclosed.

(True/False)

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Question 41

According to the text, "limited ability" in the Trueblood Committee Report's second financial statement objective may refer to:

(Multiple Choice)

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Question 42

The Chartered Financial Analysts' business reporting model for equity investors shows a preference for relevance over reliability.

(True/False)

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Question 43

"A Statement of Basic Accounting Theory" (ASOBAT) assumed that the evaluative framework of standards and guidelines was dependent upon the objectives of accounting.

(True/False)

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Question 44

Which of the following was not a goal of ASOBAT?

(Multiple Choice)

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Question 45

SATTA expressed the opinion that choice among accounting theories could not be made at the time because of the diversity of users and their presumably different objectives and information needs.

(True/False)

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Question 46

According to APB Statement 4, basic accounting terminology is defined by whatever is being done in practice.

(True/False)

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Question 47

Which of the following standards is related to the qualitative characteristic of neutrality?

(Multiple Choice)

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Question 48

The overriding message of SATTA is that current-cost should be accepted as the dominate valuation system.

(True/False)

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Question 49

Empirical research has proven that user needs are heterogeneous.

(True/False)

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Question 50

The decision-usefulness approach is one of the classical approaches to accounting theory mentioned in SATTA.

(True/False)

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Question 51

Which of the following documents was the first to be based on an orientation toward user relevance?

(Multiple Choice)

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Question 52

Which of the following bodies did not publish one of the important committee reports and documents that lead to accounting objectives and standards?

(Multiple Choice)

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Question 53

What was the purpose of SATTA?

(Multiple Choice)

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Question 54

Which of the following statements is not true regarding the Trueblood Committee?

(Multiple Choice)

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Question 55

Which of the following organizations published "A Statement of Basic Accounting Theory" (ASOBAT)?

(Multiple Choice)

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Question 56

Which of the following organizations published "Objectives of Financial Statements" (Trueblood Committee Report)?

(Multiple Choice)

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Question 57

Which of the following documents stated fundamental concepts of financial reporting that would serve as a foundation for the opinions of the APB?

(Multiple Choice)

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Question 58

Which of the following statements is true regarding the Trueblood Committee Report?

(Multiple Choice)

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Question 59

What is the most common thread running through various documents, reports, and monographs discussed in the text?

(Multiple Choice)

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Question 60

Showing 41 - 60 of 61

Moonitz felt that APB Statement 4 should have been issued as an opinion rather than as a statement because departures from GAAP made in a statement did not have to be disclosed.

According to the text, "limited ability" in the Trueblood Committee Report's second financial statement objective may refer to:

The Chartered Financial Analysts' business reporting model for equity investors shows a preference for relevance over reliability.

"A Statement of Basic Accounting Theory" (ASOBAT) assumed that the evaluative framework of standards and guidelines was dependent upon the objectives of accounting.

Which of the following was not a goal of ASOBAT?

SATTA expressed the opinion that choice among accounting theories could not be made at the time because of the diversity of users and their presumably different objectives and information needs.

According to APB Statement 4, basic accounting terminology is defined by whatever is being done in practice.

Which of the following standards is related to the qualitative characteristic of neutrality?

The overriding message of SATTA is that current-cost should be accepted as the dominate valuation system.

Empirical research has proven that user needs are heterogeneous.

The decision-usefulness approach is one of the classical approaches to accounting theory mentioned in SATTA.

Which of the following documents was the first to be based on an orientation toward user relevance?

Which of the following bodies did not publish one of the important committee reports and documents that lead to accounting objectives and standards?

What was the purpose of SATTA?

Which of the following statements is not true regarding the Trueblood Committee?

Which of the following organizations published "A Statement of Basic Accounting Theory" (ASOBAT)?

Which of the following organizations published "Objectives of Financial Statements" (Trueblood Committee Report)?

Which of the following documents stated fundamental concepts of financial reporting that would serve as a foundation for the opinions of the APB?

Which of the following statements is true regarding the Trueblood Committee Report?

What is the most common thread running through various documents, reports, and monographs discussed in the text?

An Introduction to Accounting Theory

Accounting Theory and Accounting Research

Development of Institutional Structure of Financial Accounting

The Economics of Financial Reporting Regulation

Postulates, Principles, and Concepts

The Fasbs Conceptual Framework

Usefulness of Accounting Information to Investors and Creditors

Uniformity and Disclosure: Some Policy Making Directions

International Accounting

The Balance Sheet

The Income Statement

Statements of Cash Flows

Accounting for Inflation and Changing Prices

Income Taxes and Financial Accounting

Pensions and Other Postretirement Benefits

Leases

Intercorporate Equity Investments

Filters