1. Name the two most relevant sets of accounting standards in 2021 and state who is responsible for maintaining/developing them? (4 points) 2. Explain briefly, why it could be problematic that the morale / motivation of the employees are not covered in financial statements. (4 points) 3. Name the three activity categories of the statement of cashflows and state whether the statement of cashflows has a period of time or point of time perspective. (4 points) 4. Explain the conservatism principle and how it is applied when providing accounting information (6 points)