1- The IASBs Body that Appoints members of Board is

A- Trustees

B- IASB board

C- Standards advisory council

D- International Financial Reporting Interpretations Committee

2- The exchange rate that is prevailing when a foreign currency asset was first acquired or a foreign currency liability first incurred, is:

A- Historical exchange rate

B- Current exchange rate

C- Both a and b

D- None of the above answers is correct answer

3- To achieve international comparability in financial reporting is the objective of:

A- Harmonization

B- Convergence

C- Both harmonization and convergence

D- None of the above answers is correct answer

4- Increased agreement in actual accounting practices is:

A-harmonization in accounting standardization

B- Harmonization in accounting practice

C- Both a and b

D-Done of the above answers is correct answer

5-within the context of accounting harmonization, IOSCO stands for:

A- International Organization of Securities Commissions

B- International Organization of Standardization Committee

C- Both a and b

D- None of the above answers is correct answer

6- The international equivalent of the American FASB is:

A- IOSCO

B- IASB

C- IFAC

D- None of the above answers is correct answer

7- 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- Strategy Analysis

C- Both a and b

D- None of the above answers is correct answer

8- Getting to know a company and its competition in relation to its economic environment', is:

A- Prospective Analysis

B- Strategy Analysis

C- Both a and b

D- None of the above answers is correct answer

9- The exchange rate that is prevailing at the date of preparing the financial statements, is:

A- Historical exchange rate

B- Current exchange rate

C- Both a and b

D- None of the above answers is correct answer

10-Recording and journalizing foreign-currency-contracted economic events is referred to as:

A- Transaction translation

B- Functional currency translation

C- Financial statements translation

D- Financial statements consolidation