1. . In addition to the financial statements and the accompanying notes, corporate annual reports normally include which of the following sections?

a- Management Discussion and Analysis

b- Report on Internal Control

c- Report on Fairness of the Financial Statements

d- All of these choices are correct.

2. Typical items included in the MD&A include all the following EXCEPT

a- managements analysis and explanations of any significant changes between the current and prior years financial statements.

b- important accounting principles or policies that could affect interpretation of the financial statements, including the effect of changes in accounting principles or the adoption of new accounting principles.

c- managements assessment of the companys liquidity and the availability of capital to the company.

d- managements assessment of the effectiveness of internal controls over financial reporting.