ACC426 Tma Solutions

ACC426

Question: Financial Statements are prepared by entities for economic decision making by
Answer: Stakeholders

Question: The primary objectie of harmonisation was
Answer: To break the barriers of national differeces in financial reporting across the globe.

Question: Which of these bodies is responsible for reviewing widely spread accounting issues that have to do with IFRS and IAS?
Answer: International Financial Reporting Interpretation Committee (IFRIC).

Question: In which of these countries does the goememnt administer financial accounting?
Answer: In code law countries.

Question: The umbrella body for accounting profession all oer the world is called
Answer: International Federation of Accountants.

Question: The first complete description of double entry bookeeping as used in Venice was
Answer: PacioliYs Summa

Question: One of these statements most appropriately describes the main madate of International Accounting Standards Board (IASB).
Answer: To formulate IFRS and enforce IASs without substitute in IFRS.

Question: One of these did not contribute to the delopment of international accounting standard.
Answer: Organised economy

Question: One of these is not suitable for measuring the performance of headquarters of MNC and its subsidiaries in host countries.
Answer: Transfer pricing

Question: At what stage in the development of accounting standards does complaints against a specific standard mostly arise?
Answer: Proposal stage

Whatsapp Chat: 08039407882 for your Exam Summary I Online Tutorial I Projects Writeups

Follow on Twitter for your Free Past Questions I Free Exams Summary I Free Past Tma Questions

Leave a Reply

MEET OVER 2000 NOUN STUDENTS HERE. 

Join us for latest NOUN UPDATES and Free TMA answers posted by students on our Telegram. 

OUR ONLINE TUTORIAL CLASS IS NOW ON!!! JOIN US NOW. 
JOIN NOW!
close-link
%d bloggers like this: