ACC426 – 2019

It is generally belived that Accounting history is traced to
·            Luca Pacioly
·          Luca Pacioli
·            Luka Pacific
·            Luci Pandy
The reasons for harmonisation of accounting standards include the following except one
Debentures
 
Causes of international accounting differences include but exclude one
·            Culture, legal, taxation and providers of capital
·            Culture, taxation, legal, providers of finance and creditors
·            Taxation, Income statement, Inventory and legal
·            All of the above
 
Obstacles for harmonization of accounting standards include but except one
·            Lack of expertise
·            Lack of international regulatory agency
·            Unwillingness of countries
·            IFRS and FRCN
International Accounting as a concept is defined as the process o—–, collecting, recording, classifying, verifying, summarizing, interpreting and communicating financial information to various users
·            Quantifying
·            Testifying
·            Calculating
·            Identifying
The Nigeria Accounting Standard Board (NASB) was established in
·            1980
·            1981
·            1982
·            1983
What is the full meaning of FRCN
·            Federal Road Council of Nigeria
·            Federal Radio Corporation of Nigeria
·            Financial Reporting Council of Nigeria
·            Financial Reporting Committee of Nigeria
The history of Accounting can be traced to the year
·            1394
·            1494
·            1594
·            1694
IASC means
·            International accounting scheme committee
·            Internal accounting standard Committee
·            International Income Accounting committee
·            International accounting standard committe
Factors influencing Accounting development include, except one
·            External finance
·            Legal system
·            IFRS
·            Level of inflation
 

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