please answer all questions correctly!

1. The most political issue in the FASB's most recent deliberations and amendments to GAAP on stock options was: A) The negative effects on camings of companies in the tech industry if they had to recognize expenses associated with stock compensation B) The negative effects on assets of recognizing stock options in equity C) The disclosure of stock compensation expense in the notes D) Accounting for stock options that have not yet been granted to employees 2 Roy Wilton is a CPA who recently made a poor investment. When researching the investment, Roy examined the financial statements of the fiden, but did not read the accompanying footnotes, and therefore didn't comprehend the broader context underlying those financial statements, Which of the following is true with respect to the enhancing qualitative characteristic of understandability in this case? A) This demonstrates a violation of understandability, given that Roy did not comprehend all relevant information B) This does not demonstrate a violation of understandability, as Roy did not bother to read the footnotes but could have understood them if he did so C) This does not demonstrate a violation of understandability, but rather completeness, as Roy's understanding was incomplete. D) This demonstrates a violation of understandability, as CPAs should be able to rely on the financial statements alone. 3. Ford Motor Company purchases services from suppliers on account and sells its products to distributors on short-term credit. As a result, do cach of these events affect net income faster than they affect net operating cash flows? Purchase Services Sell Products Yes Yes Yes No No Yes d No No b c. A) Option a. B) Option b. C) Optionc D) Option 4. One of the elements that many believe distinguishes a profession from other occupations is the acceptance of responsibility by its members for the interests of those it serves, which is often articulated in: A) Its conceptual framework B) Its code of ethics Federal laws D) State laws S Management has recently purchased new equipment but is uncertain about its useful life. For the initial year, management estimated a useful life of 10 years. However, due to a major accident during the first year, management is now uncertain about the equipment's functionality and has revised its estimate to 5 years and included a description of their uncertainty and of this change in estimated useful life in financial statement disclosures. Which of the following is an accurate statement regarding this approach? A) Information contains crror because management changed its estimates on the useful life of the equipment. B) Information contains error because the useful life of the equipment is uncertain C) Information is free from crror because management has provided enough disclosure regarding the uncertain estimate D) Information is free from crror because management made the correct decision in revising the estimated useful life of the equipment 6. Primecoat Corporation could disseminate its annual financial statements two days carlier if it shifted substantial human resources from other operations to the annual report project Management decided the value of the carlier report was not worth the added commitment of resources The concept demonstrated is A) Timeliness B) Materiality. Relevance D) Cost-effectiveness 7. An important historical reason for the FASB reversing its positions when political pressures occur is: A) The cost of gathering data was prohibitive. B) The difficulties in measurement were too great C) Companies withdraw financial support for the FASB. D) The SEC did not support the FASB position