1. Which of the following are advantages of a rules-based approach to corporate governance?

I. It promotes one single model of corporate governance

II. Is not considering the specific circumstances of the particular entity

III. It provides a minimum set of corporate governance practices that must be followed by all corporations and there is no uncertainty around which practices are required.

IV. Easy to enforce

Select one:

A. I and II.

B. I, II, III and IV.

C. III and IV.

D. I, III and IV.

2, Which of the following is specifically prohibited from recognition as an intangible asset according to AASB138?

Select one:

A. Training.

B. Internally generated brands.

C. Research.

D. All of the above.

3. To ensure shareholders are sufficiently informed good governance practices include:

Select one:

A. Detail related party transactions.

B. Prepare regular reports.

C. Have annual reports audited.

D. All of the above.

4. Which of the following measurement method best links share price and accounting information according to Value relevance research?

Select one:

A. Accrual accounting.

B. Fair value accounting.

C. Historic cost accounting.

D. Cash accounting.

5. An entity can change its accounting policy:

Select one:

A. As often as it likes.

B. Never, once an entity chooses an accounting method, it needs to maintain it.

C. Provided it can put a case forward to the auditors that the new method is preferable.

D. All of the above.