11. Which of these is not one of bases for recording asset I these is not one of bases for recording assets on the Balance Sheet of companies across different countries of the world: A) Historical Cost B5) Historical Cost adjusted for changes in the general purchasing power of the curry C) Exit Cost D) Fair Value 12. Under U.S. GAAP Property Plant and Equipment should be reported in the Balance Sheet at: A) Fair Value B) Historical Cost C) Fair Value Adjusted D) Exit Cost 13. Which of the following is incorrect. Since July 2012, the composition of the International Accounting Standards Board has been: A) Four members from the Asia/Oceania region. B) Four members from Europe. C) Four members from the United States of America D) One member from Africa. 14. Which of the following bodies has the responsibility for appointing members of the International Accounting Standards Board (ASB) and establishing their contract of service and performance evaluation: A) IFRS Interpretations Committee B) IFRS Advisory Council C) International Organization of Securities Commissions (IOSCO) D) IFRS Trustees of the IFRS Foundation 15. What is the term used to describe the possibility that a foreign currency will decrease in USS value over the life of an asset such as Accounts Receivable? A) foreign exchange translation B) foreign exchange risk C) hedging D) foreign currency options 5. The multi-nationality index (MNI) includes the following ratio: A) foreign working capital to total working capital. B) foreign cash to total cash. C) foreign employment to total employment. D) foreign loans to total loans