The Body That Is Responsible for the Issue of Accounting

question 48

Multiple Choice

The body that is responsible for the issue of accounting standards in Australia is the:

• A)Institute of Chartered Accountants in Australia.
• B)CPA Australia.
• C)Australian Securities and Investments Commission.
• D)Australian Accounting Standards Board.

---

Definitions:

Inductive Reactance

The opposition to the change in current flow in an AC circuit, caused by the inductance of the circuit elements.

Resistor Current

The flow of electric charge through a resistor, influenced by the voltage across the resistor and its resistance, according to Ohm's law.

Parallel Circuit

A circuit configuration where components are connected across common points or junctions, allowing multiple paths for current flow.

Inductive Reactance

The opposition that inductors present to alternating current, proportional to the frequency of the AC and the inductance, measured in ohms.