1. What is meant by moral hazard in Agency Theory?

1. Differentiate between normative isomorphism and mimetic isomorphism.

1. Explain how two environmental, cultural and religious factors could lead todiversity (lack of uniformity) of international accounting practice.

1. Is exclusion of activities from financial reporting process considered manipulation of reported earnings?

1. How can accounting policy choice be considered earningsmanagement?Explainyour answer.