PERTEMUAN 2
1. Which of the following pair of countries has similar accounting systems?
a. United States and Australia
b. Japan and Switzerland
c. Sweden and Italy
d. United Kingdom and Germany
2. The SEC acts in a supervisory capacity over FASB
a. Never
b. Rarely
c. Frequently
d. Always
3. The British accounting system
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
4. The British accounting system
a. Is based on a macro-economic justification
b. Takes a flexible approach
c. Has similar tax and book accounts
d. Lets security market needs dictate accounting policy
5. The Australian accounting system
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
6. Which of the following accurately reflects Swedish accounting?
a. There is a tradition of involvement of the accounting profession in the
standard setting process.
b. There are no significant legal requirements due to the adherence to a flexible
approach to accounting.
c. Due to the heavy social welfare influence in Sweden, taxes are collected
aggressively and tax breaks are not allowed.
d. There is little tax and legal influence.
7. Which of the following accurately reflects Dutch accounting?
a. Accounting standards tend to be more detailed in the law than is the case in
Germany and France.
b. A true and fair view concept is not acceptable due to the strength of the law.
c. There is a tendency to follow a business economics approach to valuation.
d. There is little social reporting for employees since tax law dominates.
8. Company law in the Netherlands
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.
9. If interested parties believe a company reporting is not complying with the
Netherlands law, they complain to
a. NIVRA
b. The World Court
c. The European Union
d. The Enterprise Chamber of the Court of Justice
10. Which of the following accurately reflects Swedish accounting?
a. It has a rather conservative approach to income measurement.
b. There are no significant legal requirements due to the adherence to a flexible
approach to accounting.
c. Due to the heavy social welfare influence in Sweden, taxes are collected
aggressively to address microeconomic issues.
d. There is little company law influence.
11. Which of the following pair of countries has similar accounting system preferences?
a. United States and Czech Republic
b. Japan and Poland
c. Sweden and United Kingdom
d. Brazil and Mexico
12. Which of the following accurately reflects Brazilian accounting?
a. There is a significant involvement of the stock market in the standard setting
process.
b. There are no significant legal requirements due to the adherence to a flexible
approach to accounting.
c. There is a preference to information needs of creditors and tax authorites.
d. There is little tax and legal influence.
13. Which of the following accurately reflects Argentina’s accounting?
a. Accounting standards developed by a high degree of consensus.
b. A true and fair view concept is not acceptable due to the strength of the law.
c. There is a tendency to follow a business economics approach to valuation.
d. There is little impact of inflation on accounting because the tax law
dominates.
14. Mexico’s current standard setting
a. Ignores social accounting reporting.
b. Was originally based upon the IFRS law system
c. Follows tax law.
d. Is influenced by US GAAP because of NAFTA.
15. Which of the following accurately reflects Brazilian accounting?
a. A commercial code dates back to the 1800s.
b. There are no significant legal requirements due to the adherence to a flexible
approach to accounting.
c. The stock market is virtually nonexistent.
d. There is little company law influence.