Which organization prepares and grades the Uniform CPA Examination?

A.

Public Company Accounting Oversight Board

B.

International Accounting Standards Board

C.

American Institute of Certified Public Accountants

D.

Financial Accounting Standards Board

2.

Which of the following is not a reason why an accountant in the United States should learn international accounting standards?

A.The SEC permits the use of

IFRSminusbased

financial statements by international companies with shares trading on the U.S. stock exchanges.

B.

An accountant may work for, or assist, a foreign company that operates in the U.S. and uses IFRS for financial reporting.

C.

U.S. companies operate subsidiaries outside of the United States which report under IFRS in their home countries.

D.

The United States has plans to adopt IFRS in the near future.