The Third Party Who Checks Annual Financial Statements to Ensure

question 12

Multiple Choice

The third party who checks annual financial statements to ensure that they are prepared according to Canadian GAAP and verifies that the information reported is reliable is the

• A) Toronto Stock Exchange Board.
• B) Accounting Standards Board.
• C) Provincial Securities Commission.
• D) Auditor.

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Definitions:

Futures Market

A financial exchange where people can trade standardized futures contracts; that is, a contract to buy specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future.

Stock Index Futures

Futures contracts that obligate the buyer to purchase or the seller to sell a specific stock index at a predetermined future date and price.

Multiplier

A factor that quantifies the impact of a change in one economic variable (like investment or government spending) on the overall economy, especially on national income.

Euros

The official currency of the Eurozone, which is used by 19 of the 27 European Union countries.