A.Corporate Governance Statement

B.Statement of cash flows

C.Auditor's Report

D.Director's Report

A.It replaces the established principles.

B.It mandates the formats of various financial statements.

C.It increases the chances of political interference in the development of accounting standards.

D.A single framework is not suitable for all users of financial statements.

A.allocative efficiency

B.strong form efficiency

C.semi-strong form efficiency

D.information processing efficiency

A.aggressive earnings management

B.trading in derivatives

C.profit smoothing

D.window dressing

A.to become a resource for developing nations who can easily adopt IFRSs as a full set of standards

B.to enable the national government to control activities of foreign multinationals

C.to increase foreign investors' understanding of local financial reports

D.to make it easier for tax authorities to calculate taxes on investors' overseas income