1. Study of standards, guidelines, and rules of accounting, auditing and taxation that exist within each country as well as comparisons of those items across countries is known as: A. International Business B. Foreign Investment C. IFRS D. International Accounting 2. The exchange rate prevailing as of the financial statement date: A. Historical rate B. Current Rate C. Average Rate D. All of the above 3. The transaction that involves the simultaneous spot purchase and forward sale, or spot sale and forward purchase of a currency: A. Spot B. Forward C. Swap D. Option 4. Which one is NOT the reason for accounting diversity: A. Legal system B. Inflation C. Government D. Taxation 5. Many companies provide additional information to the user of that information in order to compete with other companies, it may be known as: A. Mandatory Disclosure B. voluntary disclosure C. both a & b D. None 6. . refers to the decision of whether an item should be reported in the financial statements. A. Measurement B. Disclosure C. Recognition D. None 7. Triple-bottom line reporting includes reporting of: A. profits, people, planet B. assets, liabilities, capital C. Both a & b D. None of these 8. Forecasting a firms prospects based on an assessment of a firms business strategy, accounting policy, and its financial analysis, and arriving at an estimate of the firms value is: A. Prospective analysis B. Opportunity Analysis C. Company Analysis D. Technical Analysis 9. Which of the following is not included in WOTS-Up Analysis? A. Strategies B. Weaknesses C. Opportunities D. Threats 10. Strategic Costing includes: A. Kaizen Costing B. Behavioral Costing C. Both a & b D. None of these