1. Which country was not a member of the Common Market (now the EU) when the first draft of the Fourth Directive was published in 1971? (a) France. (b) Italy. (c) United Kingdom. (d) Belgium. 2. The...

draft of the Fourth Directive was published in 1971?

(a) France.

(b) Italy.

(c) United Kingdom.

(d) Belgium.

2. The IASC was founded in:

(a) 1968.

(b) 1973.

(c) 1978.

(d) 1985.

3. In which country did the smallest proportion of the largest 100 companies comply with IASs in 2000?

(a) France.

(b) United Kingdom.

(c) Germany.

(d) Switzerland.

4. Until 2001, the representatives on the Board of the IASC were mainly appointed

by:____

(a) Accountancy bodies.

(b) Governments.

(c) National standard setters.

(d) Stock exchanges.

5. Explain how international differences in the ownership and financing of companies

could lead to differences in financial reporting. 6. Explain for whom international differences in financial reporting are a problem. Describe any ways you know about in which those who face such problems are dealing with them.