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Question 11.The Committee on Accounting Procedure is part of which organization?
Question 22.While auditing a company, you find that several of its employees are not satisfied with their jobs. You decide not to write this in the report because of which of the following reasons?
Question 33.Accountants record expenses in the same time period in which they occurred. This is called:
Question 44.Which of the following pieces of legislation is the result of the Enron scandal?
Question 55.While creating a disaster plan, AccountInc decides that it needs off-site data storage. Which of the following would they use to store the information?
Question 66.Which of the following would be the most significant contribution of technology to accounting?
Question 77.Which type of external user would most commonly use audited financial statements?
Question 88.Which report in the financial statement would compare the assets to the sum of the liabilities and equity?
Question 99.Who is LEAST likely to use accounting reports for decision making?
Question 1010.Which of the following is part of the accounting process?
Question 1111.You have invested $30,000 of your money into your company. In what part of the financial statements would you find this information?
Question 1212.Where will you find the total amount that is owed to your business by customers?
Question 1313.What does the term 'accounting' mean?
Question 1414.What does ALOE stand for?
Question 1515.Which of the following is NOT a financial statement?
Question 1616.What has technology done to the accounting process?
Question 1717.With accounting software, Bob is able to complete five times as many transactions as he can manually; this supports the explanation of technology as
Question 1818.Dan's organization stores their software applications and other information on a group of external computers known as virtual network servers. Employees often refer to this storage space as the _____.
Question 1919.What statement(s) do external and internal users of accounting information rely on?
Question 2020.Which of the following is an example of external users of accounting information?
Question 2121.Monica reads in the newspaper that in the year ended December 31, 2015, Profit For Two Inc made $1 million profit. Monica wants to confirm for herself that this is really the case. What financial statement of Profit For Two Inc should Monica read to confirm the newspaper report?
Question 2222.Which law was enacted as a direct result of the unethical financial practices of both Enron and Arthur Andersen?
Question 2323.What was the accounting firm that made unethical choices in the Enron scandal?
Question 2424.Who investigated Arthur Andersen and Enron?
Question 2525.Which of the following is an example of how publicly-traded companies can apply the principle of conservatism with their financial statements?
Question 2626.How many basic accounting principles make up GAAP?
Question 2727.Which company, listed on the New York Stock Exchange would definitely be in breach of the Going Concern Principle?
Question 2828.Why is accounting important to business?
Question 2929.In our ever-evolving world there have been many advances that have made accounting processes easier to complete; all of the following are examples of technology that have impacted the accounting industry except
Question 3030.Adam wants to find out the assets and liabilities of a company. Which financial statement should Adam read to find out this information?
Introduction to Accounting Chapter Exam Instructions
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