Question: Q1. Distinguish an event study from an association study. Q2. Explain why accounting earnings do not capture all the information contained in share prices. Q3.

Q1. Distinguish an event study from an association study. Q2. Explain why accounting earnings do not capture all the information contained in share prices. Q3. In what ways are the finance definition of 'relevance' and the Conceptual Framework definition provided in chapter titled 'The Conceptual Framework for Financial Reporting' similar? Q4. What are heuristics? How can they lead to poor decision making? Q5. Explain the meaning of an efficient market. What is meant by the following terms: weak-form efficiency, semi strong-form efficiency and strong-form efficiency? Which form is the most important to accounting research? Why? (from Godfrey book) Q6. Explain the implications for accounting if decision makers in an accounting context display any or all of the representativeness, availability, or anchoring and adjustment rules of thumb. (from Godfrey book)

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