1. Whether an organisation is for-profit or not-for-profit does not influence the information that stakeholders consider to be important, and therefore does not influence the accounting that is undertaken. Group of answer choices

True

False

2. "What" information is communicated and reported by stakeholders really depends on their legal requirements, the underlying purpose of the organisation, and the goals of the people managing it. Group of answer choices

True

False

3. Information is "faithfully representative" if it is timely. Group of answer choices

True

False

4. Organisations must be accountable for their economic, social, and environmental impact and performance on stakeholders. Group of answer choices

True

False

5. In New Zealand, there are 2 sectors in which organisations can operate - the private and public sector. In these sectors, both for-profit entities and public benefit entities exist. Group of answer choices

True

False

6. Which of the following statements is TRUE in relation to accounting in the 21st century? Group of answer choices

Accounting is purely a technical practice.

Accounting is both a technical and social practice.

Accountants only report on the financial/economic performance of organisations.

Accountants report on all sorts of organisation performance, including: social, environmental and economic,

Accountants are simply record keepers.

Accounts are communicators, problem solvers, analysis, decision makers, and consultants

7. A stakeholder is commonly defined as any group or individual who can affect, or is affected by, the achievement of an organisations objectives. Broader definitions of stakeholders would also include the physical environment. Group of answer choices

True

False

8. Social accounting can generate information about an organisations: Group of answer choices

interaction with the local community

support for employees within the supply chain

health and safety record

all of these choices

9. To enhance the "relevance" of information, it should also have the attributes of: Group of answer choices

comparability, understandability and timeliness

effectiveness, understandability and timeliness

comparability, understandability and efficiency

comparability, honesty and timeliness

10. Public benefit entities have owners. Group of answer choices

True

False

11. Government departments operate in the private sector. Group of answer choices

True

False

12. The public sector can include for-profit organisations. Group of answer choices

True

False

13. Internal accounts are prepared by people internal to the organisation (such as managers) and are intended for use by those outside an organisation (such as shareholders and regulators). Group of answer choices

True

False

14. Which of the following information is likely to be of interest to an employee? Group of answer choices

Information relating to workplace health and safety

Information relating to wages and working conditions

Information relating to employee training and career development

All of these choices

15. The outputs of an organisation could include: Group of answer choices

goods and services for sale

pollution

educated people

all of these choices