Which of the Following May Be the Result of Direct

question 19

Multiple Choice

Which of the following may be the result of direct or indirect economic and social consequences of a proposed accounting standard?

• A) Increased lobbying to maximise the expected positive economic benefits from the standard
• B) Increased lobbying to minimise the expected negative economic and social consequences from the standard
• C) Impact on managerial decisions to optimise the reported numbers
• D) All of the given options are correct.

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Definitions:

Forward Contracts

Non-standardized contracts between two parties to buy or sell an asset at a specified future date for a price agreed upon today.

Trade Surplus

Occurs when a country's exports exceed its imports during a specific time period, indicating a positive balance of trade.

Exports

Goods or services sent from one country to another for sale or trade.

Imports

Goods or services brought into one country from another for the purpose of sale or trade.