W - Chapters 1,2,3 and 4 Date: October 2, 2019 1. Which organization is responsible for issuing Emerging Issues Task Force Statements? A) The FASB B) The CAP C) The APB D) The SEC 2. Which of the following will be of interest to investors in decision-making? A) Assessing the company's ability to generate net cash inflows. B) Assessing management's ability to protect and enhance the capital providers investments Both assessing the company's ability to generate net cash inflows and assessing management's shili to protect and enhance the capital provider's investments. D) Assessing the company's ability to collect debts. C) Both assessing the and enhance thany's abili protect and cash in flow-making? nies that are listed on a stock exchange are required to submit their financial statements to the 3. Companies that are listed on a stock A) AICPA. ) C) FASB. D) SEC. g are true of the Securities and Exchange Commission except that A) it is a federal agency. B) the SEC's involvement in the development of accounting standards varies C) the FASB relies on the SEC to develop accounting standards. D) the SEC requires registrants to adhere to GAAP 5. What is the "expectations gap"? A) The difference between what the public thinks the accountant should not do and what the account knows they should do. B) The difference between what the public thinks the accountant should do and what Congress says accountant should do. The difference between what the public thinks the accountant should do and what the accountan thinks they can do. D) The difference between whe be doing crence between what the accountant should do and what the Courts say the accountants Page 1