Question 1

The British accounting system

Accepted Answer

A)  does not follow a company law regime 
B)  has its rules created by government agency 
C)  is not going to adopt the IFRS because of the British pound 
D)  has its rules created by a self-regulatory organization 
A)  does not follow a company law regime 
B)  has its rules created by government agency 
C)  is not going to adopt the IFRS because of the British pound 
D)  has its rules created by a self-regulatory organization

Question 2

Company law in the Netherlands

Accepted Answer

A)  is based upon English common law. 
B)  ignores social accounting reporting. 
C)  was originally based upon the Roman law system 
D)  follows tax law. 
A)  is based upon English common law. 
B)  ignores social accounting reporting. 
C)  was originally based upon the Roman law system 
D)  follows tax law.

Question 3

Traditionally, Sweden relies on central regulatory control and excludes the accounting profession's involvement.

Accepted Answer

A) True 
 B)False

Question 4

A major business Japanese feature that influences accounting is the keiretsu.

Accepted Answer

A) True 
 B)False

Question 5

In Japanese accounting,

Accepted Answer

A)  all companies are required to follow the reporting requirements of the Securities and Exchange Law. 
B)  corporate tax rules are a major source of influence on income measurement practices. 
C)  the Securities and Exchange Law was developed by the British. 
D)  reserves are not permitted. 
A)  all companies are required to follow the reporting requirements of the Securities and Exchange Law. 
B)  corporate tax rules are a major source of influence on income measurement practices. 
C)  the Securities and Exchange Law was developed by the British. 
D)  reserves are not permitted.

Question 6

In Germany, the financial statement accounts form the basis for the tax accounts.

Accepted Answer

A) True 
 B)False

Question 7

The Australian accounting system

Accepted Answer

A)  has rules developed by the EITF 
B)  focuses more on tax accounting than investor information needs 
C)  has a strong British influence 
D)  is more conservative than the Swiss 
A)  has rules developed by the EITF 
B)  focuses more on tax accounting than investor information needs 
C)  has a strong British influence 
D)  is more conservative than the Swiss

Question 8

Italy has quickly adopted EU directives in order to support major family or state-owned enterprises.

Accepted Answer

A) True 
 B)False

Question 9

The SEC acts in a supervisory capacity over FASB

Accepted Answer

A)  never 
B)  rarely 
C)  frequently 
D)  always 
A)  never 
B)  rarely 
C)  frequently 
D)  always

Question 10

Which of the following pair of countries has similar accounting systems?

Accepted Answer

A)  United States and Australia 
B)  Japan and Switzerland 
C)  Sweden and Italy 
D)  United Kingdom and Germany 
A)  United States and Australia 
B)  Japan and Switzerland 
C)  Sweden and Italy 
D)  United Kingdom and Germany

Question 11

Which of the following accurately reflects Italian accounting?

Accepted Answer

A)  There is a strong emphasis on shareholders. 
B)  The interests of government and the taxation authorities take precedence over shareholders. 
C)  Uniformity for planning purposes is emphasized. 
D)  A flexible approach to valuation. 
A)  There is a strong emphasis on shareholders. 
B)  The interests of government and the taxation authorities take precedence over shareholders. 
C)  Uniformity for planning purposes is emphasized. 
D)  A flexible approach to valuation.

Question 12

Which of the following countries prepares statements according to US GAAP?

Accepted Answer

A)  France 
B)  Japan 
C)  Netherlands 
D)  Italy 
A)  France 
B)  Japan 
C)  Netherlands 
D)  Italy

Question 13

The securities markets are the dominant influence on accounting regulation in the United States.

Accepted Answer

A) True 
 B)False

Question 14

Swiss accounting is among the most transparent in the world today.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following accurately reflects Swiss accounting?

Accepted Answer

A)  Secret reserves are an accounting issue. 
B)  Accounting standards are set by a government body. 
C)  The true and fair view has been adopted as the primary factor to consider in accounting measurement. 
D)  There are no significant legal requirements due to the adherence to a flexible approach to accounting. 
A)  Secret reserves are an accounting issue. 
B)  Accounting standards are set by a government body. 
C)  The true and fair view has been adopted as the primary factor to consider in accounting measurement. 
D)  There are no significant legal requirements due to the adherence to a flexible approach to accounting.

The British accounting system

Company law in the Netherlands

Traditionally, Sweden relies on central regulatory control and excludes the accounting profession's involvement.

A major business Japanese feature that influences accounting is the keiretsu.

In Japanese accounting,

In Germany, the financial statement accounts form the basis for the tax accounts.

The Australian accounting system

Italy has quickly adopted EU directives in order to support major family or state-owned enterprises.

The SEC acts in a supervisory capacity over FASB

Which of the following pair of countries has similar accounting systems?

Which of the following accurately reflects Italian accounting?

Which of the following countries prepares statements according to US GAAP?

The securities markets are the dominant influence on accounting regulation in the United States.

Swiss accounting is among the most transparent in the world today.

Which of the following accurately reflects Swiss accounting?

International Accounting and International Business

International Accounting Patterns, Culture and Development

Comparative International Financial Accounting II

International Financial Statement Analysis

International Transparency and Disclosure

International Accounting Standards and Global Convergence

International Business Combinations, Goodwill and Intangibles

International Segment Reporting

Foreign Currency Transactions and Translation

International Accounting for Price Changes

Corporate Governance and Control of Global Operations

Foreign Exchange Risk Management

International Budgeting and Performance Evaluation

International Auditing Issues

International Taxation Issues

Filters

Exam 3: Comparative International Financial Accounting I

The British accounting system

Company law in the Netherlands

Traditionally, Sweden relies on central regulatory control and excludes the accounting profession's involvement.

A major business Japanese feature that influences accounting is the keiretsu.

In Japanese accounting,

In Germany, the financial statement accounts form the basis for the tax accounts.

The Australian accounting system

Italy has quickly adopted EU directives in order to support major family or state-owned enterprises.

The SEC acts in a supervisory capacity over FASB

Which of the following pair of countries has similar accounting systems?

Which of the following accurately reflects Italian accounting?

Which of the following countries prepares statements according to US GAAP?

The securities markets are the dominant influence on accounting regulation in the United States.

Swiss accounting is among the most transparent in the world today.

Which of the following accurately reflects Swiss accounting?

International Accounting and International Business

International Accounting Patterns, Culture and Development

Comparative International Financial Accounting II

International Financial Statement Analysis

International Transparency and Disclosure

International Accounting Standards and Global Convergence

International Business Combinations, Goodwill and Intangibles

International Segment Reporting

Foreign Currency Transactions and Translation

International Accounting for Price Changes

Corporate Governance and Control of Global Operations

Foreign Exchange Risk Management

International Budgeting and Performance Evaluation

International Auditing Issues

International Taxation Issues

Filters