Which Is the Main Government Regulator of Companies in Australia

question 16

Multiple Choice

Which is the main government regulator of companies in Australia?

• A)The Australian Securities and Investments Commission.
• B)The Auditors Board.
• C)The Australian Securities Exchange.
• D)The Australian Accounting Standards Board.

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Definitions:

Prepaid Expenses

Expenses paid in advance and recorded as assets until they are actually used or consumed.

Unearned Revenues

Represents income received by a company for goods or services that are yet to be delivered or performed.

Accrued Revenues

Income earned during an accounting period but not yet received or recorded at the statement date, representing future cash receipts.

Annual Depreciation

The amount of depreciation expense allocated for a fixed asset in one year, based on the asset's useful life and cost.