Reference no: EM132827756

Problem 1: One among the duties of accountability is to provide a reckoning or account of those actions to the ____________.

a. chief executive officer and chief financial officer

b. chief executive officer

c. stakeholders

d. chief financial officer

Problem 2: Accounting information is relevant if it:

a. is immaterial.

b. is not material users' decision-making.

c. would influence users' decision-making .

d. makes no difference to users' decision-making.

Problem 3: Why are entities required to report?

a. Because there is a legal requirement for them to report.

b. They voluntarily report to forestall the imposition of legal requirements.

c. To increase profits.

d. To respond to a crisis.

e. All of the above.