Answered You can hire a professional tutor to get the answer.
Please answer the following: The term for the ongoing process by the FASB of the U.
Please answer the following:1. The term for the ongoing process by the FASB of the U.S. and the international IASB to revise their respective accounting pronouncements in anticipation of the planned adoption by the U.S. of International Financial Reporting Standards (“IFRS”) is:A) comparabilityB) reliabilityC) matchingD) convergence 2. The Emerging Issues Task Force (“EITF”) was formed from the FASB primarily to:A) deal with current issues quickly.B) deal with issues related to emerging markets.C) deal with the most difficult issues.D) deal with issues related to converging US GAAP and IFRS. 3. One of the consequences of Enron, WorldCom, and other audit failures circa 2001 was the:A) Creation of the AICPA.B) Gramm-Rudman Act.C) Sarbanes-Oxley Act.D) Taft-Hartley Act. 4. A Trial Balance lists:A) only balance sheet account balances.B) only income statement account balances.C) only balances that changed from the prior period.D) all income statement and balance sheet account balances. 5. An accrual entry always includes a:A) dr/cr to an asset account, and a dr/cr to a liability account.B) dr/cr to an expense account, and a dr/cr to an income account.C) dr/cr to an expense or income account, and a dr/cr to a liability or asset account.D) dr/cr to an expense account, and a dr/cr to a common stock
Answer1. The term for the ongoing process by the FASB of the U.S. and theinternational IASB to revise their respective accounting pronouncements inanticipation of the planned adoption by the...