How Is Use of an Applicable Accounting Framework Enforced Via

question 45

Multiple Choice

How is use of an applicable accounting framework enforced via legislation?

• A)The Canada Business Corporations Act and many provincial incorporating acts require that financial statements be prepared in accordance with CAS as set out in the CPA Canada Handbook.
• B)PAs who do not prepare financial statements in accordance with such frameworks are expelled from their professional association.
• C)tax authorities may sue corporations who do not prepare their financial statements in accordance with such frameworks.
• D)financial executives may be sued if the financial statements prepared by their company are not in conformance with such frameworks.

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A psychological theory proposing that a person's sense of who they are is based on their group membership(s).

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An individual’s overall subjective emotional evaluation of their own worth or personal value.

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A group of players forming one side in competitive football games.