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- 1. Multiple Choice
What is year end close?
When employees take time off at the end of the year for the holidays
A procedure that forces a company to file taxes
A company's process in which they close the books on the previous year and prepare for the new one
When bonuses are paid
- 2. Multiple Choice
What is a Fixed Asset
An asset that is permanently fixed to the floor
An asset that always costs the same
An asset with a life that lasts longer than a fiscal year
- 3. Multiple Choice
What is an example of a fixed asset?
Company vehicle
Payroll
Paper supply
Cleaning crew
- 4. Multiple Choice
Both private and public companies must report their earnings to the appropriate agency?
True
False
- 5. Multiple Choice
When does a publicly traded company file a 10-K?
At the end of their month end close
At the end of their quarter end close
At the end of their year end close
When they sell the company
- 6. Multiple Choice
A 10-K gets filed to which agency?
SOX
NBA
NFL
SEC
- 7. Multiple Choice
Why is Accounts Receivable a key part the year end process?
It states how much money the company spent during the year
It updates all income and expense records
It's actually not. This can be skipped during year end
Both A and B
- 8. Multiple Choice
What department(s) are affected by year end close?
Only the CFO
All except Human Resources
Only accounting
All
- 9. Multiple Choice
According to David Bair, which Director has the best hair?
Lori Nelson-Los Angeles
Alan Camarillo-Glendale
Rob Landis-Orange County
Christa Shapiro-San Diego
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