Test Sp 2018 Saved to this PC Review View Help Tell me what you want to do AaBbC

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Test Sp 2018 Saved to this PC Review View Help Tell me what you want to do AaBbCel AaBbC AaBbcct AaB AaBbccD Aaf E.Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subt AaBbCe Paragraph Styles 1) Countries where companies rely on the stock market for their main source of capital are characterized as having: a. an equity-oriented market b. a stock and bond market c. a debt-equity market d. a debt-oriented market 2) Countries where companies rely on bank financing for their main source of capital are characterized as having: a. an equity-oriented market b. a stock and bond market c. a debt-equity market d. a debt-oriented market 3) In equity-oriented countries, companies tend to: fear that the market will punish poor performance numbers underreport earnings make their numbers as positive as possible both a. and c. a. b. c. d. 4) Major challenges facing accounting globally include: a. the environmental and social impact of business decisions b. the quality of financial reporting in emerging countries c. the single currency movement in the European Union d. both a. and b. The term accounting "harmonization" refers to the reduction of differences in financial reporting practices among countries, while accounting "convergence" a. refers to moving toward a single set of global standards b. means moving to two sets of standards, one for developed and another for developing 5) nations has the same definition as "harmonization" none of the above c. d.

Explanation / Answer

1) a) an equity oriented market where companies rely on stock market for their main source of capital.for example USA and Canada.

2)c)debt oriented market where companies rely on bank financing for their main source of capital.for example germany and japan.

3) d) both a and c in equity oriented market companies tend to fear that market will punish the poor performer and they try to make their numbers as positive as possible.

4)d) both a and b as the enviormental and social impact of the business decisions and the quality of financial reporting are the main challenges facing accounting globally.

5) a) accounting "convergence refers to moving toward a single set of global standards

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