Task Team of FUNdaMENTAL aCCOUNtIng School of Business. Sun Yat-sen University Lesson 1 Intro Exercise Short Answer questions 1. Please elaborate the term of efficient market 2. Please elaborate the terms of ethical man, economic man, rational economic man, bounded ationality, REMM 3. According to economic man and REMM, all men are self-interested"potential thieves However, this is conflict with our observations. Please give possible explanations 4. Why do listed companies issue annual reports in public? 5. Do you think private companies should prepare financial statements or not? Give the reasons 6 We defined accounting as a lower-cost device of trusting mechanism. Please explain why accounting is the right device to be employed by all companies 7. What is Economic Darwinism? How is it used to explain the unique value of accounting? 8. In this lesson, the origin of accounting was traced to the early civilization of human beings Please find from the history books or literatures some supporting evidences 9. Changhong Electorics issued a current statement in 2005 disclosing the huge amount of accounting receivables with APEX. Please find supporting documents and try to answer questions as follow: why does business partner need to pay attention to each other about their financial 10. Please find news and comments about South-east Asia financial crisis and the capital market risk, discuss the changing role of CFO in East-Asia companies hereafterTask Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 1 Introduction to Accounting Exercise Short Answer questions 1. Please elaborate the term of efficient market. 2. Please elaborate the terms of ethical man, economic man, rational economic man, bounded rationality, REMM. 3. According to economic man and REMM, all men are self-interested “potential thieves”. However, this is conflict with our observations. Please give possible explanations. 4. Why do listed companies issue annual reports in public? 5. Do you think private companies should prepare financial statements or not? Give the reasons. 6.We defined accounting as a lower-cost device of trusting mechanism. Please explain why accounting is the right device to be employed by all companies. 7. What is Economic Darwinism? How is it used to explain the unique value of accounting? 8. In this lesson, the origin of accounting was traced to the early civilization of human beings. Please find from the history books or literatures some supporting evidences. 9. Changhong Electorics issued a current statement in 2005 disclosing the huge amount of accounting receivables with APEX. Please find supporting documents and try to answer questions as follow: why does business partner need to pay attention to each other about their financial conditions? 10. Please find news and comments about South-east Asia financial crisis and the capital market risk, discuss the changing role of CFO in East-Asia companies hereafter