1.Managerial stakeholder theory suggests that annual reports will be used to:

Select one:

a. report on the activities of management with respect to each stakeholder

b. gain the support of powerful stakeholders

c. all of the other answers

d. explain why profits may have been sacrificed to respect the minimum rights of some stakeholders

2.One of the advantages of principles-based standards is:

Select one:

a. they are generally simpler

b. they do not improve representational faithfulness of financial statements

c. none of the other answers

d. they allow for no professional judgement

Only answers required (asap please). No need of explanation.