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- 1. Multiple Choice
What is accounting ?
Information science used to collect and organize financial data.
Information science used to collect and finalize financial data.
Collecting and Organizing financial data.
- 2. Multiple Choice
When was the Sarbanes Act Passed?
2000
1998
2002
1999
- 3. Multiple Choice
Sarbanas Act was passed by......
U.S
U.S. Constitution
U.S. Congress
U.S Senate
- 4. Multiple Choice
The SEC or "Securities and Exchange Commission" was a government created to
regulate the frequency of trades in the marketplace.
protect buyers and sellers against fraud.
insure investments to protect capital gains.
- 5. Multiple Choice
SEC mission is.....
protect investors
sustain a growing economy that produces jobs, improves living standards, and protect investors.
a decline in economy that produces jobs, improves living standards, and protect investors.
- 6. Multiple Choice
Please select the one that does not fall in the 5 functions of the U.S. Securities and Exchange Commission.
Looking toward the future
Sharing Fair Markets
Creating Fair
Ensuring Corporate Disclosure
Protecting Investors
- 7. Multiple Choice
How many hours do you need to have to sit for the CPA Exam?
130 semester hours undergraduate coursework.
120 semester hours undergraduate coursework.
100 semester hours undergraduate coursework.
125 semester hours undergraduate coursework.
- 8. Multiple Choice
Please select all the skills that were mentioned in Accounting Skills EdPuzzle.
Math
Psychotherapy
Psychology
Business Law
Operations
- 9. Multiple Choice
Please select the top 3 Specializations that were discussed in class.
Advanced Accounting
Business Accounting
Cost Accounting
Forensic Accounting
- 10. Multiple Choice
This is verification that your bank statement and your check book balance out correctly.
Budget
Bad Debt
Bond
Bank reconciliation
- 11. Multiple Choice
Calendar Years mean......
Covering 3 months and ending 6 months
Covering 12 months and ending Dec. 31st
Covering 12 months and ending Dec. 30th.
Covering 6 months and ending Dec. 31st
- 12. Multiple Choice
A formal statement statement of management expectations of sales, expenses, and other financial transactions of an organization .
Planning and Control
Budget
Business
Bond
- 13. Multiple Choice
Please check the following equation for Annual Percentage Rate.
(1+r/m) m=0
(1+r/m) m-1.0
(1+r/m) m+1.0
- 14. Multiple Choice
This is an organization created with the objective of making a profit from the sale of goods or services.
Capital
Calendar Year
Business Failure
Business
- 15. Multiple Choice
This can either be technical insolvency or bankruptcy.
Business
Business Failure
Board of Directors
- 16. Multiple Choice
A record that holds the results of financial transactions is.....
Accounting
Account
Audit
- 17. Multiple Choice
Business dealings between independent and rational parties who are looking out for their own inerests.
Capital
Audit
Arms-Length Transactions
- 18. Multiple Choice
Audit is..........
A CPAs unqualified opinion means that the financial statement he/she has audited present fairly the financial position and operating results of the company in conformity with GAAP
the net amount shown in the accounts of an asset, liability, or owners equity item.
An independent accountants review of the financial statements and their footnotes to ensure compliance with generally accepted accounting principals.
- 19. Multiple Choice
_______ are Economic resources owned or controlled by a person or company.
Accounting
Assets
Annual Report
- 20. Multiple Choice
Property or money used and owned by a business and used to acquire future income or benefits.
Cash Flow
Capital
Book Value
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