Intermediate Accounting Volume 1, 13th Canadian Edition by Donald E. Kieso Test bank

        a                 22.        Moral hazard
        d                 23.        Conservative accounting
        d                 24.        Resource Allocation
        c                  25.        Changing financial reporting environment
        b                 26.        Reduction of information asymmetry
        b                 27.        Development of GAAP
        c                  28.        Financial reporting before 1900
        c                  29.        Responsibility of the AcSB
        a                 30.        Oversight of AcSB
        c                  31.        Authority over accounting standards in the U.S
        b                 32.        Adoption of IFRS
        d                 33.        Activities and authority of the Ontario Securities Commission (OSC)
        b                 34.        Use of ASPE
        a                 35.        IASB’s standard-setting process
        d                 36.        IASB’s funding principles
        b                 37.       IASB oversight
        a                 38.        Role of provincial securities commission
        c                  39.        Primary sources of GAAP under ASPE
        c                  40.        Sources of GAAP
        d                 41.       Exercise of professional judgement
        c                  42.        Rules-based vs. principles-based approach
        c                  43.        Comparison of Canadian GAAP and U.S. GAAP
        d                 44.        Primary sources of GAAP