1. Accounting is:

a. An objective view of a company

b. Responsible for environmental degradation

c. A technical practice

d. Socially constructing

2. How accounting is practised depends on:

a.What area of accounting you are looking at, i.e. financial or management accounting

b.The standard setting body

c.Whether the accountant is a CPA

d.The contexts in which accounting operates

3. One of the initial expectations of company directors was that they act as:

a.The agent for shareholders

b.The reasonable person would act in the same way

c.Independent from the company

d.Honest Idiots

4. The ultimate guardian/s of financial information is/are:

a.The AASB

b.Professional bodies

c.Accountants

d.The ASX