Which of the Following Is Not True

question 44

Multiple Choice

Which of the following is not true?

• A)Australian Auditing Standards (ASAs)are legally binding auditing standards.
• B)Australian Auditing Standards (ASAs)are issued by the Australian Auditing and Assurance Standards Board.
• C)Australian Auditing Standards (ASAs)set out audit requirements for listed companies under the Corporations Act
• D)Australian Auditing Standards (ASAs)are legally enforceable legislative instruments.

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Definitions:

Swap Contract

Swap Contract is a financial agreement to exchange cash flows or other financial instruments between two parties at specified future dates.

Interest Rate Floor

A derivative contract that provides a minimum interest rate protection to investors, ensuring rates do not fall below a specified level.

Long Call Option

An investment strategy involving the purchase of a call option, giving the buyer the right, but not the obligation, to buy a specified quantity of a security at a specified price within a certain time period.

Call Option Contract

An agreement in finance that grants the individual holding it the freedom, but not the duty, to buy various assets like stocks, bonds, or commodities at a fixed price before the deadline expires.