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Question 12 (1 point) Efficiency perspective can be described as: 1) All individuals' action is driven by self-interest. 2) Individuals will act in an opportunistic manner to the extent that the actions will increase their wealth. 3) Notions of loyalty and morality are ignored. 4) Different organisational characteristics explain why different firms adopt different accounting methods. Question 13 (1 point) Which of the following arguments is used in support of reducing accounting regulation? 1) Accounting information is like any other good, and the forces of supply and demand should be allowed to operate so that the optimal amount of accounting information is produced. 2) The capital market operates quite efficiently, and will impose penalties on managers who elect to provide biased information about an organisation's financial performance and position. 3) Individuals act in their own self-interest and will use the given regulation to maximise their own wealth. 4) All the given options are correct. Question 14 (1 point) Which of the following is not a cayse or result of 'information overload' or standards overload? 1) Increased compliance costs 2) Attempts to create a level playing field by requiring disclosures that provide equal access to information to everyone 3) Concerted lobbying by different interest groups that are economically or socially affected 4) Increased understanding of accounting information because of the increased quantity of standards and disclosures provided

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