International accounting standards (1)

International accounting standards (1)

Please choose the most appropriate answer for each sentence.

Q1 With the activities and interests of investors, lenders and companies becoming increasingly global, the Securities and Exchange Commission is
increasing its involvement in a number of forums to develop a globally accepted, high quality financial reporting ......

A bulwark B framework C outline D scaffold

Q2 Our efforts, at both a domestic and international level, consistently have been based on the view that the only way to achieve fair, liquid and efficient
capital markets worldwide is by providing investors with information that is ....., transparent and reliable.

A commensurate B commercial C comparable D compatible

Q3 That is why we have pursued a dual objective of upholding the quality of financial reporting domestically, while encouraging ..... towards a high quality
global financial reporting structure internationally.

A convention B convergence C conversion D conveyance

Q4 Over the last two decades, the global financial ..... has undergone a significant transformation.

A landscape B panorama C prospect D scenery

Q5 These developments have been ....., in part, to dramatic changes in the business and political climates, increasing global competition, the development
of more market-based economies, and rapid technological improvements.

A accountable B amenable C answerable D attributable

Q6 Our efforts to develop a global financial reporting structure have been guided by the ..... principle underlying our system of regulation - pursuing our
mandate of investor protection by promoting informed investment decisions through full and fair disclosure.

A bedrock B cornerstone C keynote D landmark

Q7 In 1988, we issued a policy statement that noted that all securities regulators should work together ....., to create sound international regulatory
systems that will enhance the vitality of capital markets.

A definitively B desultorily C diligently D distinctly

Q8 Currently, issuers wishing to access capital markets in different jurisdictions must comply with the requirements of each jurisdiction, which differ in
many ......

A angles B respects C senses D views

Q9 Throughout this effort, we have been ..... in advocating that capital markets operate most efficiently when investors have access to high quality
financial information.

A headstrong B heavyhanded C singleminded D steadfast

Q10 While the accounting standards used must be high quality, they also must be supported by an infrastructure that ensures that the standards are .....
interpreted and applied, and that issues and problematic practices are identified and resolved in a timely fashion.

A righteously B rightfully C rigidly D rigorously

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 International accounting standards (1)

ANSWERS: International accounting standards (1)

Q1 With the activities and interests of investors, lenders and companies becoming increasingly global, the Securities and Exchange Commission is
increasing its involvement in a number of forums to develop a globally accepted, high quality financial reporting ......

B framework

Q2 Our efforts, at both a domestic and international level, consistently have been based on the view that the only way to achieve fair, liquid and efficient
capital markets worldwide is by providing investors with information that is ....., transparent and reliable.

C comparable

Q3 That is why we have pursued a dual objective of upholding the quality of financial reporting domestically, while encouraging ..... towards a high quality
global financial reporting structure internationally.

p
B convergence

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Q4 Over the last two decades, the global financial ..... has undergone a significant transformation.

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A landscape

st
be
Q5 These developments have been ....., in part, to dramatic changes in the business and political climates, increasing global competition, the development
of more market-based economies, and rapid technological improvements.

h.
D attributable
is
Q6 Our efforts to develop a global financial reporting structure have been guided by the ..... principle underlying our system of regulation - pursuing our
mandate of investor protection by promoting informed investment decisions through full and fair disclosure.
gl

B cornerstone
en

Q7 In 1988, we issued a policy statement that noted that all securities regulators should work together ....., to create sound international regulatory
systems that will enhance the vitality of capital markets.
om

C diligently
fr

Q8 Currently, issuers wishing to access capital markets in different jurisdictions must comply with the requirements of each jurisdiction, which differ in
many ......
F

B respects
PD

Q9 Throughout this effort, we have been ..... in advocating that capital markets operate most efficiently when investors have access to high quality
financial information.
is

D steadfast
th

Q10 While the accounting standards used must be high quality, they also must be supported by an infrastructure that ensures that the standards are .....
et

interpreted and applied, and that issues and problematic practices are identified and resolved in a timely fashion.

D rigorously
G

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