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Accounting theory 22- "The underlying assumption that the capital markets react in an...

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Accounting

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Accounting theory

22- "The underlying assumption that the capital markets react in an efficient and unbiased manner to publicly available information and that stocks prices completely mirrors the accessible information is: A-Efficient markets hypothesis B-Positive accounting theory C-Agency theory D- Political cost hypothesis 23- The field of study which deals with the mechanisms of restricting the consequences of the conflict of interest by the executives is referred to as A-Corporate govemance B-Corporate management C-Corporate risk management D-None of the above is correct 24- The accounting alternative that assumes that the purchasing power of the currency unit is fixed, is: A-Current purchasing power accounting B- General price level accounting C- Current cost accounting D- Historical cost accounting Question No. Two: What are the three sub-categories of positive accounting theory: (6 marks) 1- 2- 3. Question No. Three: Provide a brief definition for each of the following concepts (approximately 50 words each) (10 marks) 1- Positive accounting theory 2- Conceptual framework of accounting

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