40. A consultant makes two statements about ICAEW's regulation and supervision roles 1 ICAEW uses the same detailed rules to regulate members who work in practice and members who work in business 2 ICAEW is responsible for oversight of the anti-money laundering (AML) supervisory bodies in the UK Are these statements accurate? OA. Both 1 and 2 are accurate OB. Only 1 is accurate OC. Only 2 is accurate OD. Neither 1 nor 2 are accurate

40. A consultant makes two statements about ICAEW's regulation and supervision roles 1 ICAEW uses the same detailed rules to regulate members who work in practice and members who work in business 2 ICAEW is responsible for oversight of the anti-money laundering (AML) supervisory bodies in the UK Are these statements accurate? OA. Both 1 and 2 are accurate OB. Only 1 is accurate OC. Only 2 is accurate OD. Neither 1 nor 2 are accurate

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 17Q: Many professional certifications now have requirements for ethics training. A. Define ethics. B. Why...

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Which is correct about financial information? a. Financial information’s purpose is only to comply with needs external users such as the government, investors and external stakeholders. b. Financial information can be used for forecasting and budgeting. c. Financial information deviates from the actual thus it justifies erroneous management decisions. d. Financial information is used by line managers to evaluate performance of staff positions. e. b & d f. All of the above g. None of the above
115-Assume that you are a consultant in a private accounting firm that provide consultancy to the companies by charging fee. There is seminar where you are given the task to explain the main purpose of the conceptual framework related to financial statements only. So, which of the following points you will choose to present? a. It helps in international accounting standard board in overall development b. It helps in setting national standards in developing countries c. It helps auditor about making any opinion about various statements d. All of the options
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1. Indicate whether each of the following statements describes financial accounting or managerial accounting. The information is directed at external users who are making decisions pertaining to investing, extending credit, and other decisions? The principal users are the organization’s managers? The key focus is on the entity as a whole? The rules and principles are very flexible? The information gathered is usually available after an independent audit has been completed?
dnu Televalmt iniormatioH in support of an Investment recommendation. 4. Which of the following statements clearly conflicts with the recommended procedures for compliance presented in the CFA Institute Standards of Practice Handbook? 1. For confidentiality reasons, personal transactions and holdings should not be reported to employers unless mandated by regulatory organizations. 2. Employees should disclose all personal transactions to their employer. 3. Firms should disclose to clients the personal investing policies and procedures established for their employees. 4. Prior approval must be obtained for the personal investment transactions of all employees.
Qq.5.
Q7 the key feature of an agency relationship is that 1) The company will allow another firm to take on its name and act as an agent in doing the business 2) the principal will always make decisions that are in the best interest of the agent 3) one party passes the responsibility for making decisions design as a party 4 ) the decisions by the agent will always improve the position of the owner of the firm
The objectivity standards of management accountants state that they must communicate information fairly and objectively. This means essentially that accountants must perform each task A as professionals, possessing the degree of skill of those management accountants who held the position before them. B so as to provide relevant information, both positive and negative, to the recipients of their reports. C to the satisfaction of government regulators. D in conformity with generally accepted accounting principles. ↓y