1. Which of the following sources of generally accepted accounting principles (GAAP) are not developed by the Canadian Accounting Standards Board (ACSB)? a. GAAP for Pension Plans b. Accounting Standards for Private Enterprises (ASPE) c. International Financial Reporting Standards (IFRS) d. GAAP for Not-for-Profit entities 2. A local businessman owns several different companies. His accountant prepares separate financial statements for each of these businesses. This is an application of the a. economic entity assumption. b. periodicity assumption. c. going concern assumption. d. full disclosure principle. 3. Financial statements prepared under ASPE include a statement of comprehensive income. b. c. statement of retained earnings and a statement of comprehensive income. statement of cash flows and a statement of changes in shareholders' equity. d. balance sheet and a statement of retained earnings. 4. The book of original entry where transactions and other selected events are first recorded is called the a. account. b. statement of financial position. c. ledger. d. journal. 5. Under ASPE, Other Comprehensive Income (OCI) and Accumulated Other Comprehensive Income (AOCI) accounts a. appear as separate line items, the same as under IFRS. b. are measured differently than under IFRS. C. are not included in financial statements. d. are part of accounts such as Fair Value-OCI Investments