Five multiple choice about IFRS .......................

1. 1. In what year did the SEC announce it was thinking about allowing companies to use GAAP instead of IFRS? A. 2005 B. 2006 C. 2007 D. 2008 QUESTION 2 1. 2. How did the authors identify relevant IFRS events? A. they consulted authors of previous studies B. they did a website search C. they contacted IFRS D. they were notified of these events QUESTION 3 1. 3. On which date did an event occur that decreased the likelihood of IFRS adoption? "A. October 24, 2007" "B. December 17, 2007" "C. August 4, 2008" "D. January 15, 2009" QUESTION 4 1. 4. How many comment letters did the SEC receive in response to the Concept Release A. 85 B. 95 C. 100 D. 150 QUESTION 5 1. 5. Which of the following IASB standards is similar to that of US GAAP? A. impairment of loans B. segment reporting C. comprehensive income D. foreign currency translation costs