8 of 24 Marks Who has primary responsibility for ensuring that the financial statements of a Canadian publicly accountable enterprise follow International Financial Reporting Standards? O A The company's shareholders OB. The company's management OC. The Canadian Accounting Standards Board (ACSB) OD. Independent auditors (CPA) O E, Canadian Securities Administrators (CSA) Unsure 9 of 24 2:15:25 Marks Which of the statements below is considered incorrect regarding the relationship betweem depreciation and cash? O A Depreciation is an allocation of the cost of an asset to the periods in which the asset is used. OB. Accumulated depreciation is not a pile of cash waiting to be used OC Recording depreciation expense provides a means of setting aside cash for the replacement of an asset. Unsure OD. Depreciation does not generate cash. 10 of 24 Marks Short-term liquidity is a company's ability to A tum accounts receivable into cash. OB sell inventory OC shift current liabilities into long-term liabilities OD. pay current liabilities as they become due. Unsure