1. The role of International Organization of Securities Commissions (IOSCO) is most likely to:

A. assist in attaining the goal of cross-border cooperation in combating violations of securities laws.
B. be responsible for regulating financial markets of member nations.
C. be the oversight body to which the International Accounting Standards Board (IASB) reports.

 

2. The Conceptual Framework (2010) identifies several characteristics that enhance the usefulness of financial information. Which of the following is least likely a characteristic?

A. Transparency.
B. Understandability.
C. Verifiability.

 

3. The areas analysts need to be aware with respect to developments in financial reporting standards least likely include:

A. New products or types of transactions.
B. Company disclosures.
C. Effect of evolving standards in the preparation of financial statements.

 

Tomorrow’s questions of the day will be on the topic of R25: Understanding Income Statements

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