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ACCOUNTING 3610 – FALL 2023 QUIZ # 1 (5 Points)
Student ID # ______________
The number of points for the respective questions is indicated in parentheses.
Problem 1
(1 Point)
_____ In 2023, which of the following tasks is (are) a primary responsibility of the American Institute of Certified Public Accountants (AICPA)?
A. Overseeing the content, format and overall administration of the
Certified Public Accountant (CPA) exam
B. Reviewing the audit work of accounting firms, and in turn making recommendations to the Securities and Exchange Commission (SEC) regarding which accounting firms should/should not be allowed to perform the audits of publicly traded corporations.
C. Both
A and B are primary responsibilities of the AICPA. D. None of the above.
Problem 2
(1 Point)
Do you AGREE or DISAGREE
with the following statement:
“Telxon used a “proprietary cost” argument to support their position that they wouldn’t disclose accounting information to a company (Symbol Technologies, Inc.) in their same industry until after the business combination was completed.”
Circle either AGREE or DISAGREE
, and BRIEFLY support your answer.
Problem 3
(1 Point)
_____ Which of the following statements is(are) true in 2023 with regard to SEC filings for non-US
corporations that access United States capital markets? A. The companies may
file financial statements prepared in
accordance with US GAAP. B. The companies may
file financial statements prepared in accordance with International Financial Reporting Standards (IFRS), without having to reconcile those financial statements to US GAAP
.
C. Both
A and B are acceptable.
D. None of the above. Problem 4
(1 Point)
What is an Exposure Draft, and why does the Financial Accounting Standards Board issue them? Problem 5
(1 Point
) The following statement is TRUE / FALSE (Circle One):
“Even though the “Joint (FASB & IASB) Conceptual Framework” project
did not get very far, the FASB has continued work on the project and has updated the US Conceptual Framework in recent years.
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What is the propuse of a statement of activities in government-wide financial reporting?
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Assignment Details
ATG-110-20A01: Financial Accounting (Session II Summer 2021)
7474 unread replies.7575 replies.
Please read and respond to TIF 12-2 on page 623. Review
the rubric to ensure you receive full points for this
discussion.
Discussion Rubric- 25 points(1)_(3).docx
*After you have posted your answers, please reply to three
other students' posts. This discussion board was set up so
that you will not be able to see others replies until you post
your own.
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TIF 12-2
Issuing Stock
1.
ETHICS Lou Hoskins and Shirley Crothers are
organizing Red Lodge Metals Unlimited Inc. to
undertake a high-risk gold mining venture in Canada.
Lou and Shirley tentatively plan to request
authorization for 400,000,000 shares of common
stock to be sold to the general public. Lou and Shirley
have decided to establish par of $0.03 per share in
order to appeal to a wide variety of potential
investors. Lou and Shirley believe…
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uestion : 1 a
A distinguishing feature of managerial accounting is
external users.
general-purpose reports
very detailed reports.
quarterly and annual reports.
© 2021 - Shakir A. Mrayyen
AR ▲ * 原壁l心
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ie Calendar My MCDS Library English ien)-
Hal Management
ession i 2021/FIN 20A/ET/ Section 9/ Mid Term Exam
Explain an agency problem for a corporation with examples, and Identify means by which the firm can help reduce or
eliminate that problem.
A- BI -
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ACCT4141_iram_fall20
WEEK 7: 25 OCTOBER - 31 OCTOBER
Case study 2
Separate groups: 5
My Submissions
Case 2
Title Start Date Due Date Post Date Marks Available
Case study 2 - Case 2 27 Oct 2020 - 08:00 28 Oct 2020 - 06:00 28 Oct 2020 - 19:00 100
Summary:
On Chapters 9, 10, and 11:
The YuRaeKa charity was established in 1960. The charity’s aim is to provide support to children from disadvantaged backgrounds who wish to take part in sports such as tennis, badminton, squash, basketball and football.
YuRaeKa has a detailed constitution[1] which explains how the charity’s income can be spent. The constitution also notes that administration expenditure cannot exceed 10% of income in any year.
The charity’s income is derived wholly from voluntary donations. Sources of donations include:
(i) Cash collected by volunteers asking the public for donations in shopping areas,
(ii) Cheques sent to the charity’s head office,
(iii) Donations…
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assgt_mgmt1000_open_s3_22.xls
complete the questions
Using the Microsoft excel workbook
below to provide solutions for the directors and board members of KPT Enterprises, regarding
their financial reporting requirements:
a.
Using the "2020 Quarterly Revenue" worksheet provide the relevant formulas to
complete the worksheet.
b.
In the same worksheet, dynamically apply the following formats for Qtrl through Qtr4
for all revenue types:
i.
Values over $65,000 should be red and bolded
ii.
Values under or equals to $15,000 should be green and italicized
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Question 8
What are the educational requirements to receive a CPA certificate in the State of Connecticut?
A Master's Degree, 150 total credit hours, 36 credit hours in accounting, 36 credit hours in economics or general business courses
A Baccalaureate Degree, 150 total credit hours, 36 credit hours in accounting, 36 credit hours in economics or general business courses
A Baccalaureate Degree, 150 total credit hours, 36 credit hours in accounting, 30 credit hours in economics or general business courses
A Master's Degree, 150 total credit hours, 36 credit hours in accounting, 30 credit hours in economics or general business courses
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16
AICPA is a professional accounting body offering a CPA qualification. What is the abbreviation of the term AICPA?
a.
American Institute of Certified Public Accountant
b.
Associated Chartered Accountant
c.
Association of Internal Certified Private Accountant
d.
Association of International Certified Public Accountant
Clear my choice
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+968 9365 5953
۱۷ مارس ۳:46 ص
odle English (en) -
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The term management accounting is applied to the provision of accounting information for
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Select one:
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اختراحد الخيارات
a. Disburse Cash
8.
b. Receive Goods
.c. Inventory o
12
d. Customer0
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Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in
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Electricity
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300,000
800,000
600,000
280,000
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200,000
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I.
Additional Information:
()
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1
1
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Subject: accounting
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Exercise 10-13 a1-a2 (Part Level Submission) (Video)
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CHAPTER 1
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