Page 465 - Introduction to Business

CHAPTER 12 Financial Reporting 439

d. global currency 9. The website for the _____ contains the
e. dollar Yellow Book of standards for audits of
7. The _____ is the currency in which the government organizations, programs,
foreign subsidiary generally buys, sells, activities, and functions.
borrows, and repays. a. Sarbanes-Oxley Act
a. functional currency b. AICPA Audit and Attest Standards
b. currency of books and records c. Federal Accounting Standards Advisory
c. reporting currency Board
d. global currency d. GAO Governmental Auditing Standards
e. dollar e. Office of Management and Budget
8. The _____ is the currency in which the 10. Starting in the _____, many corporations
consolidated financial statements are began providing their financial statements
denominated. on the Web.
a. functional currency a. 1950s
b. currency of books and records b. 1970s
c. reporting currency c. 1980s
d. global currency d. 1990s
e. dollar e. 2000s

self-test Want more questions? Visit the student website at http://college.hmco.com/business/student/ (select Gaspar,
ACE Introduction to Business) and take the ACE quizzes for more practice.

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