Accounting Principles and Concepts

The audit profession is unregulated

The audit profession is regulated by its own professional body

Outside bodies sometimes become involved in the regulation of the audit profession

The audit profession is regulated only by the government

Board of governance and top-level management

Legal counsel

Middle-level management

Stakeholders

Current Ratio

Acid-test Ratio

Cash Ratio

None of the above

Recording

Decision-making

Classification

Interpreting

Liquidity Ratios

Long-term Solvency Ratios

Asset Management Ratios

Profitability Ratios

Existence of immaterial mistake in the statement

Existence of any fraud or any error in the statement

Company’s growth trend in the future in figures

Market value of the company’s stock

Ordinary annuity

Annuity due

Perpetuity

None of the above

Results-oriented

Factual

Practical

Summarizing

Consistent

Variable

Flexible

Factual

Liquidation and receivership work, fraud auditing

Financial management and system consultancy

Financial system planning and preparation

Tax management and statutory form filling