I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

What should be the main aim for a director of a company?  

A 

To manage the affairs of the company in order to earn a good bonus  

B 

To manage the affairs of the company in order to create wealth for the shareholders 

C 

To manage the affairs of the company in order to generate the largest profits in the 

shortest time 

D 

To manage the affairs of the company in order to contribute to the general wellbeing of society 

 

(2 marks) 

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6 

What is the role of the IFRS Interpretations Committee?  

A 

To develop and issue a set of globally accepted International Financial Reporting 

Standards  

B 

To clarify issues in the application of IFRSs where unsatisfactory or conflicting 

interpretations have developed   

C 

To take account of the financial reporting needs of small and medium-sized entities 

D 

To provide a forum for the IASB to consult with the national accounting standard setters, 

academics and other interested parties 

 

(2 marks) 

7 

Which of the following is responsible for developing and issuing International Financial