1. What phenomenon has been suggested as one of the most puzzling anomalies in accounting research and calls into question the efficient markets hypothesis?

Select one:

A. Income smoothing.

B. Signalling theory.

C. Big bath write-offs.

D. Post-earnings announcement drift.

2. Annual reports contain many financial graphics, it has been noted that:

Select one:

A. They are mostly unhelpful in summarising data.

B. All of the above.

C. They are irrelevant to most users.

D. They are frequently distorted to improve perceptions of performance.

3. Extensible business reporting language (XBRL) is expected to:

Select one:

A. Facilitate better corporate analysis.

B. Benefit all businesses, large to small.

C. Ease the burden of reporting to governments.

D. All of the above.