1-Which of the following best describes a publicly accountable enterprise?

Question options:

	An entity, other than a not-for-profit organization, that has issued debt or equity instruments that are outstanding and traded in a public market
	An entity that has one or more owners, but neither their shares nor their debt is publicly traded
	An entity that is organized and operated exclusively for social, educational, professional, religious, health, charitable, or any other not-for-profit purpose
	An arrangement that provides retirement income to employees

2-Which of the following is a section included in the standards known as IFRS?

Question options:

	Introduction to Part III
	International Accounting Standards (IAS)
	General Accounting
	Specific Items

3-Which of the following best describes three possible sources of cash for an entity that may be included on the statement of cash flows?

Question options:

	Redemption of term deposits, a decrease in accounts payable, and advances from related parties
	Redemption of term deposits, an increase in accounts payable, and advances from related parties
	Purchase of term deposits, an increase in accounts payable, and advances from related parties
	Redemption of term deposits, an increase in accounts payable, and advances to related parties

4-Catherine, an audit manager, is explaining to her client, Michael, the difference between a cash flow statement prepared using the indirect method and a cash flow statement prepared using the direct method. Which of the following statements is the best description Catherine could provide Michael?

Question options:

	The amount of net cash flow from the operating, investing, and financing sections is the same under both methods. The presentation of the operating section is different under both methods.
	The amount of net cash flow from the operating and investing sections is different under each method.
	The presentation of the operating, investing, and financing sections is different under both methods, but the amount of net cash flow from the operating, investing, and financing sections under both methods is the same.
	The amount of net cash flow from the operating section is different under both methods.