Mod 3 International Accounting
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Question 1
What is the primary source of capital in Germany?
Selected: a. Issuance of stockThis answer is incorrect.
b. Corporate bonds
c. Bank loansThis is the correct answer.
d. Government grants
Bank loans are the primary source of capital in Germany.
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Question 2
The Japanese economy is dominated by "keiretsu." What are these?
a. warlords that control Japanese wealth
b. local governmental entities
Selected: c. corporate conglomeratesThis answer is correct.
d. joint ventures with foreign investors
"keiretsu" are corporate conglomerates.
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Question 3
In Germany, prudence is an accounting principle established in commercial law. What does "prudence" mean in an accounting context?
a. Reliability
b. Comparability
Selected: c. ConservatismThis answer is correct.
d. Relevance
In context of accounting "prudence" means Conservatism.
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Question 4
By what title are professional accountants in Mexico known?
a. Certified Public Accountant (CPA)
b. Chartered Accountant (CA)
Selected: c. Contador Publico Certificado (CPC)This answer is correct.
d. Mexican Certified Public Accountant (MCPA)
In Mexico preofessional accoutants are known as Contador Publico Certificado (CPC).
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Question 5
What functional area dominates the accounting profession in Germany?
a. Taxation
Selected: b. AuditingThis answer is correct.
c. Financial reporting
d. Managerial Accounting
Auditing dominates the accounting profession in Germany.
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Question 6
Which body has the primary responsibility for establishing accounting standards in Japan?
a. Japanese Institute of Certified Public Accountants (JICPA)
b. Japanese Accounting Association (JAA)
Selected: c. Japan's Ministry of Finance (MoF)This answer is correct.
d. International Accounting Standards Board (IASB)
Japan's Ministry of Finance (MoF) has the primary responsibility for establishing accounting standards in Japan.
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Question 7
Among the world's nations, where does the People's Republic of China rank in
Question 1
What is the primary source of capital in Germany?
Selected: a. Issuance of stockThis answer is incorrect.
b. Corporate bonds
c. Bank loansThis is the correct answer.
d. Government grants
Bank loans are the primary source of capital in Germany.
/1
1/1
Question 2
The Japanese economy is dominated by "keiretsu." What are these?
a. warlords that control Japanese wealth
b. local governmental entities
Selected: c. corporate conglomeratesThis answer is correct.
d. joint ventures with foreign investors
"keiretsu" are corporate conglomerates.
/1
1/1
Question 3
In Germany, prudence is an accounting principle established in commercial law. What does "prudence" mean in an accounting context?
a. Reliability
b. Comparability
Selected: c. ConservatismThis answer is correct.
d. Relevance
In context of accounting "prudence" means Conservatism.
/1
1/1
Question 4
By what title are professional accountants in Mexico known?
a. Certified Public Accountant (CPA)
b. Chartered Accountant (CA)
Selected: c. Contador Publico Certificado (CPC)This answer is correct.
d. Mexican Certified Public Accountant (MCPA)
In Mexico preofessional accoutants are known as Contador Publico Certificado (CPC).
/1
1/1
Question 5
What functional area dominates the accounting profession in Germany?
a. Taxation
Selected: b. AuditingThis answer is correct.
c. Financial reporting
d. Managerial Accounting
Auditing dominates the accounting profession in Germany.
/1
1/1
Question 6
Which body has the primary responsibility for establishing accounting standards in Japan?
a. Japanese Institute of Certified Public Accountants (JICPA)
b. Japanese Accounting Association (JAA)
Selected: c. Japan's Ministry of Finance (MoF)This answer is correct.
d. International Accounting Standards Board (IASB)
Japan's Ministry of Finance (MoF) has the primary responsibility for establishing accounting standards in Japan.
/1
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Question 7
Among the world's nations, where does the People's Republic of China rank in