During a period of specific price changes, assets recorded at their onginal acquisition costs seldom reflect the assets' changes, assets recorded at their original acquisicon in reported income. This, in turn, may lead to: A. Higher taxes, lower dividends and lower wages B. Higher taxes, higher wages and lower wages D. Higher taxes, higher wages and higher wages D. Lower taxes, higher wages and lower wages ctivide..l 8 Which of the following statement is not true for SSAP 16 recommendation? A. Present current-cost accounts as the basic financial statements with supplementary historical cost accounts. B. Present historical-cost accounts as the basic statements with supplementary current-cost accounts. C. Present current-cost accounts as the only accounts accompanied by adequate historical-cost information. D. Present historical-cost accounts as the only accounts accompanied by adequate historical-cost information. IAS requires the restatement of primary financial statement information for operations located in hyperinflationary environments. A. 21 B. 24 C. 26 D. 28 In general price level change, the positive and negative price movement as: A. Inflation; deflation B. Inflation; recession C. Deflation; inflation D. Recession; inflation \begin{tabular}{c|c} NO & \\ \hline 1 & Other influence on French accounting rules are: \end{tabular} A. Commercial law only B. Tax law only C. Commercial law and tax law D. Common law and tax law Dutch financial reporting can be in how many languages? A.B23 B. 3 C. 4 3 In Japan, the accounting regulation bodies consist of: A. Company, security and exchange and common law B. Company, security and exchange and corporate income tax law C. Common law and corporate income tax law D. Commercial and common law In all the accounting regulation and enforcement falls under the Ministry of Finance. A. China B. Japan C. USA D. Czech 5 The IFRS has been developed in which country? A. USA B. France C. Germany D. United Kingdom During the period of inflation, revenues are based on the general purchasing pov the period. A. Current B. Last year C. Base year D. Alternate year