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Accounting 302: Advanced Accounting  /  Business Courses

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Corporate Accounting Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. What is the difference in a corporate and a public accountant?

Question 2 2. At what point after purchase is an asset considered 'long-term' and not 'short-term?'

Question 3 3. Why is receiving feedback for the budget important?

Question 4 4. Which of the following is included in a production budget?

Question 5 5. Which of the following is usually the first budget?

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Question 6 6. In addition to managing day-to-day finances, what else falls in the purview of a corporate accountant?

Question 7 7. What is the highest likely percentage for short-term capital gains tax?

Question 8 8. What is the typical tax on long-term capital gains?

Question 9 9. When might someone consider taking the extra tax burden of a short-term capital gains tax?

Question 10 10. A manager has reported that he will have to go a little bit off budget in order to be able to order some more office supplies. How will the accounting of the company respond to that?

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Question 11 11. What position is similar to being a corporate accountant?

Question 12 12. What kind of investor would most likely face short-term capital gains taxes?

Question 13 13. Mark from accounting has prepared a budget that has the salaries of all of the workers, rent and office utilities that are essential to the company, as well as how many products his company expects to sell. Why is this NOT an example of an administration budget?

Question 14 14. What is corporate accounting?

Question 15 15. Which of these positions is detailed by billable hours?

Corporate Accounting Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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