1. Watts and Zimmermans Positive Accounting Theory is: A. One of several normative theories of accountingB. One of several positive theories of accountingC. One of several critical theories of accountingD. None of the given options is correct2. The key theory that underpins Positive Accounting Theory is: A. The Efficient Markets HypothesisB. Agency theoryC. Normative ethical theoryD. None of the given options is correct 3. The principals expectation of opportunistic behaviour by his or her agent results in lower payments to: A. The agentB. The principalC. The principal and the agentD. Neither the principal nor the agent 4. The political cost hypothesis of Positive Accounting Theory suggests that: A. Large firms are more likely to use accounting choices that reduce reported profitsB. Small firms are more likely to use accounting choices that reduce reported profitsC. Neither large nor small firms are more likely to use accounting choices that reduce reported profitsD. Both large and small firms are more likely to use accounting choices that reduce reported profits 5. The bonus plan hypothesis of Positive Accounting Theory suggests managers of firms with bonus plans tied to reported income are more likely to use accounting methods that: A. Increase prior period reported incomeB. Increase current period reported incomeC. Increase future period reported incomeD. None of the given options is correct6. The debt/equity hypothesis of Positive Accounting Theory predicts that: A. The higher the firms debt/equity ratio, the more likely managers are to use accounting methods that lower incomeB. The lower the firms debt/equity ratio, the more likely managers are to use accounting methods that increase incomeC. The higher the firms debt/equity ratio, the more likely managers are to use accounting methods that increase incomeD. None of the given options is correct7. Critical researchers accuse financial accounting of: A. Being open to manipulation by self-interested managersB. Reinforcing unequal distributions of wealth and powerC. Being irrelevant to management decision-makingD. Poorly predicting stock prices8. Social Praxis in the context of critical theory means that A. Theory influences practiceB. Practice influences theoryC. Theory influences practice, while practice influences theoryD. Theory does not influence practice, and practice does not influence theory 9. Critical accounting researchers have criticised other social and environmental accounting researchers for: A. Lacking objectivityB. Being too radical and unrealisticC. Leaving existing social structures unchallengedD. Ignoring the findings of empirical accounting research 10. Which theoretical perspectives have been utilised by critical researchers? A. MarxismB. Deep ecologyC. Radical feminismD. All of the given options are correct 11. Broadly speaking, critical researchers have been: A. Successful in identifying problems in accounting practices, but unsuccessful in changing practicesB. Successful in exposing problems in accounting practices, and successful in changing practicesC. Unsuccessful in exposing problems in accounting practices, but successful in changing practicesD. Unsuccessful in exposing problems in accounting practices, and unsuccessful in changing practices12. Critical researchers interpret the Australian accounting bodies opposition to mandatory corporate social and environmental reporting as evidence that the accounting profession: A. Is legitimately concerned with introducing unnecessary regulationB. Does not believe mandatory reporting would enhance corporate accountabilityC. Does not believe shareholders and the public support mandatory reportingD. Promotes the interests of business above the interests of other stakeholders 13. Critical researchers believe that accountants are: A. Complicit in the exploitation of citizensB. Resistant to the exploitation of citizensC. Irrelevant to the exploitation of citizensD. Exploited by citizens 14. Critical researchers believe that regulation of corporations is ineffective because the government: A. Is weak and powerlessB. Is deceived by corporationsC. Favours the richD. Does not believe that more effective social and environmental legislation is required
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