Full Download International Accounting 4th Edition Doupnik Test Bank
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Chapter 02
1. What is the equivalent of the common stock account on a U.S. balance sheet on the balance sheet
of a British company?
A. The process of combining the financial statements of foreign subsidiaries into the parent
company's financial statements
B. The process of reducing accounting differences across countries
C. Disclosing the accounting methods used in preparing the financial statements
D. Assessing the exposure resulting from inadequate internal controls
2-1
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McGraw-Hill Education.
A. Professionalism
B. Statutory control
C. Uniformity
D. Transparency
5. Differences in legal systems used in various countries have been cited as one reason for diversity in
accounting practices. What are the major types of legal systems?
A. very detailed.
B. formulated by organizations such as the FASB.
C. stated generally without much guidance on accounting procedures.
D. very conservative.
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Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
7. What is likely to be the source of accounting standards in common law countries?
A. Tax law
B. Non-government entities such as the FASB
C. Federal and local legislatures
D. The International Accounting Standards Board
8. What is the likely result when accounting rules are left up to professional associations rather than
being legislated by governmental bodies?
9. Relative to accounting standards in countries such as Germany, whose accounting laws are only 47
pages long, accounting practice in the U.S. is often described as being subject to:
A. standards overload.
B. standards minimization.
C. the optimal amount of accounting regulation.
D. ideal accounting standards.
10. In code law countries such as Germany, France, and Japan, tax law and accounting standards tend
to be:
A. unrelated.
B. very different.
C. general.
D. detail oriented.
2-3
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
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It must be noted that Salamanca’s name was not in the list of
Ministers suggested by Narvaez. The Queen wished it to be added,
but Narvaez declined to follow suit, as he knew that this statesman
was supported by Bulwer, whose dislike of the King was well known;
and the way he had spoken of Francisco before his wedding
naturally made the King averse to seeing him.
Bulwer worked with Bermejo against Isabella during the
premiership of Salamanca, and the publication in The Times of a
demand for the royal divorce was due to him.
At last Francisco and Isabella were reconciled. It was on October
13 that the King returned to the capital. He entered the gate of the
palace in a carriage drawn by six horses, with a mounted escort of
the Guardia Civil. He was dressed quietly in black, and Brunelli, the
Pope’s Legate, was seated on his left. Narvaez, Count Alcoy, Count
Vistahermosa, rode by the coach, and two carriages followed with
the high dignitaries of the palace.
The King looked pleased. General Serrano, whom he hated so
cordially, had left Madrid, and the Queen was waiting for him at the
window. Brunelli was about to follow the royal couple as they walked
away after their first meeting, but Narvaez said: “Whither away, Your
Eminence? Let them be alone with their tears and kisses. These
things are done better without witnesses.”
The Queen arrived that day at her dwelling in the Calle de las
Rejas. There was a family dinner-party in the evening at the palace,
and, in a private interview with her daughter, Maria Cristina begged
her to be more discreet in future; and she reminded her that although
she had, as a widow, allowed herself to be captivated by a
commoner, whilst she was the wife of the King she had never
allowed her thoughts to wander beyond the circle of her rank and her
duty.
The reckless extravagance of the Queen excited much remark.
Courtiers are still living who recollect seeing Isabella give her
bracelets to the beggars who sometimes infest the courtyard of the
palace.
When Miraflores, who was considered the soul of truth, received
a reckless order from the Queen to dispense a certain amount of
money on some petitioner, he had the sum put in pieces on a table,
and it was only the sight of the large sum which was thus laid before
the Queen which showed her the extravagance of her command.
A great influence was soon found to be at work in the palace in
the person of Sister Patrocinio, whose brother, Quiroga, was one of
the gentlemen-in-waiting.
CHAPTER XI
ATTEMPT ON THE LIFE OF QUEEN ISABELLA—THE OVERTHROW OF THE
QUEEN-MOTHER, MARIA CRISTINA
1850–1854
There was much variety of feeling when it was known that an heir to
the throne was expected. On the day of the birth, July 12, 1850, the
clerics, Ministers, diplomats, officers, and other important
personages of the realm, assembled at the palace to pay their
respects to the expected infant. But the bells and cannon had hardly
announced to the nation the birth of the girl-child when it expired. So
the dead form of the infant, which had only drawn breath in this world
for five minutes, was brought into the assembly of dignitaries, and
after this sad display the gathering dispersed in silence. The kind-
heartedness of the Queen was shown in her thoughtful generosity to
the nurses who were disappointed of their charge.
“Poor nurses, they must have felt it very much!” she exclaimed.
“But tell them not to mind, for they shall be paid the same as if they
had had my child.”
In February, 1852, an heir to the throne was once more expected,
and the birth of the Infanta Isabella was celebrated by the usual
solemn presentation. When the King showed the infant to his
Ministers, he said to the Generals Castaños and Castroterreño:
“You have served four Kings, and now you have a Princess who
may one day be your Sovereign.”
It was on February 2, 1852, that the dastardly attempt was made
on the life of the Queen, just before leaving the palace for the
Church of Atocha, where the royal infant was to be baptized. The
Court procession was passing along the quadrangular gallery, hung
with the priceless tapestries only displayed on important occasions,
when Manuel Martin Merino, a priest of a parish of Madrid, suddenly
darted forward from the spectators lining the way, with the halberdier
guard. The petition in the cleric’s hand and his garb of a cleric led to
his step forward being unmolested, and the Queen turned to him,
prepared to take the paper. But the next moment the other hand of
the assassin appeared from under his cloak with a dagger, which he
swiftly aimed at the royal mother. Fortunately, the Queen’s corset
turned aside the murderous weapon, and, although blood spurted
from her bodice, the wound was not very deep; but she was at once
put to bed and placed under the care of the royal physicians.
The royal infant was promptly seized from the arms of its mother
at the moment of the attack, by an officer of the Royal Guard, and for
this presence of mind the soldier was afterwards given the title of the
Marquis of Amparo.
With regard to the assailant, the Queen said to her Ministers:
“You have often vexed me by turning a deaf ear to my pleas of mercy
for criminals, but I wish this man to be punished immediately.” And,
with the outraged feeling of the object of such a dastardly deed,
Isabella turned to the would-be murderer, and said: “What have I
ever done to offend you, that you should have attacked me thus?”
During the trial in the succeeding days the Queen softened to the
criminal, and said to her advisers: “No, no! don’t kill him for what he
did to me!”
However, justice delivered the man to the hangman five days
after his deed.
The efforts to discover Merino’s accomplices were fruitless, and it
was thought that the deed had been prompted more by the
demagogue party than by the Carlists.
The cool, cynical manner of the cleric never left him even at the
moment of his execution.
When the priest’s hair was cut for the last time, he said to the
barber: “Don’t cut much, or I shall catch cold.”
The doomed man’s request to say a few words from the scaffold
was refused. When asked what he had wished to say, he replied:
“Nothing much. I pity you all for having to stay in this world of
corruption and misery.”
The ovation which the Queen had when she finally went to the
Church of Atocha to present the infant surpasses description.
Flowers strewed the way, and tears of joy showed the sympathy of
the people with the Queen in her capacity as mother, and at her
escape from the attempt on her life.
From 1852 to 1854 Isabella failed to please her subjects, and the
outburst of loyalty which had followed the attempt on her life
gradually waned. Curiously indifferent to what was for her personal
interest, as well as for the welfare of the country, Isabella turned a
deaf ear to the advice of her Ministers to dissolve a Cabinet which
was under the leadership of the Count of San Luis, who was known
to be the tool of Queen Maria Cristina, now so much hated by the
Spaniards. Miraflores wrote a letter to Isabella, advising the return of
Espartero, the Count of Valencia, but the letter never reached its
destination.
Remonstrances which had been made upon the Government
were now directed straight to the Throne.
“You see,” said her advisers, “how the persons whom you have
overwhelmed with honours and favours speak against you!”
The Generals O’Donnell and Dulce finally took an active part
against the Ministry, supported by the Queen-mother and Rianzares.
The Count of San Luis was a man of fine bearing and charming
manners. He had been conspicuous in his early days for his
banquets and gallantries, but he had also been known for many a
generous deed to his friends; and it was noticeable that when the
tide of favour left him he was deserted by all those to whom he had
been of service.
The birth of another royal infant in 1854 excited little or no
interest in the capital, where discontent with the reigning powers was
so evident. General Dulce was accused in the presence of the
Queen and San Luis of having conspired against the Throne. This
the officer indignantly denied on the spot, declaring that never could
he have believed in the perfidy which had prompted the report.
At last the storm of revolution broke over Madrid, and the parties
of the Generals O’Donnell and Dulce came into collision with those
of the Government. Insulting cries against the Queen-mother filled
the streets, and during the three days’ uproar the house of Maria
Cristina, in the Calle de las Rejas, was sacked, as well as those of
her partisans. The furniture was burned in the street, and Maria
Cristina took refuge in the royal palace.
After the Pronunciamento of Vicalvaro and O’Donnell to the
troops, it was evident that the soldiers of the Escorial would also
revolt against the Government.
It was then that Isabella was filled with the noble impulse to go
alone to the barracks of the mutinous regiments and reason
personally with them. With her face aglow with confidence in her
soldiers and in herself, she said: “I am sure that the generals will
come back with me then to Madrid, and the soldiers will return to
their barracks shouting ‘Vivas’ for their Queen.”
But this step, which would have appealed with irresistible force to
the subjects, was opposed by the Ministers, who objected to a
course which would have robbed them of their portfolios by the
Sovereign coming to an understanding with those who were
opposed to their opinions.
T H E C O U N C I L O F M I N I S T E R S O F I S A B E L L A I I . D E C L A R E S WA R
AGAINST MOROCCO
1864–1868