Accounting Principles, Finance And Accounting

Question: Which of the following is a method of timing business transactions or choosing accounting principles so that the firm reports smaller variations in income from year to year than it would otherwise?
A
Conservatism

B
Income Smoothing

C
Profit Maximization

D
Least and Latest Rule

Note: Not available
1. Report
Question: What entry would a donor make when giving a cash donation to a charity, where the donor retains the right to revoke the contribution?
A
Dr: Cash, Cr: Refundable Advance to Charity

B
Dr: Refundable Advance to Charity, Cr: Cash

C
Dr: Expense, Cr: Cash

D
Dr: Revenue, Cr: Expense

Note: Not available
1. Report
Question: Companies of what size have been impacted the most by the SOX from a cost perspective?
A
Mid-sized companies feel the impact the most

B
There is no correlation between company size and the cost of implementing the provisions of the Act

C
The larger companies as the larger the company, the more it has to pay to implement the provisions of the Act

D
The smaller companies as the cost of implementing the provisions of the Act does not decrease proportionally with the size of the company

Note: Not available
1. Report
Question: What is the acronym for the agency authorized by the U.S. Congress to regulate, among other things, the financial reporting practices of most public corporations?
A
SEC

B
IASC

C
FASB

D
GAAP

Note: Not available
1. Report
Question: What is the accounting objective which best relates to the MACRS method?
A
Income Smoothing

B
Profit Maximization

C
Tax Minimization

D
None of the above

Note: Not available
1. Report
Question: What is the phrase with no agreement on meaning which implies to most analysts that earnings quality increase with the likelihood of recurrence?
A
Quality of financial position

B
Quality of earnings

C
Conservatism objective

D
None of the above

Note: Not available
1. Report
Question: What entry would a donor make when giving a cash donation to a charity?
A
Dr: Revenue, Cr: Cash

B
Dr: Expense – Cash, Cr: Cash

C
Dr: Liability, Cr: Cash

D
Dr: Expense – Contributions, Cr: Cash

Note: Not available
1. Report
Question: What is the accounting objective which best relates to the double declining balance method?
A
Conservatism

B
Income Smoothing

C
Profit Maximization

D
Tax Minimization

Note: Not available
1. Report
Question: What is the effect of the SOX on public companies?
A
It has made regulations more strict

B
It has added accountability to the upper management

C
It has forced companies to look at their internal controls

D
All of the above

Note: Not available
1. Report
Question: Which of the following accounts may appear on a company's balance sheet when the incomes for financial and tax reporting are different?
A
Income tax expenses

B
Deferred income tax liability

C
Sales tax expenses

D
All of the above

Note: Not available
1. Report

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Question: Which of the following is a method of timing business transactions or choosing accounting principles so that the firm reports smaller variations in income from year to year than it would otherwise?

Question: What entry would a donor make when giving a cash donation to a charity, where the donor retains the right to revoke the contribution?

Question: Companies of what size have been impacted the most by the SOX from a cost perspective?

Question: What is the acronym for the agency authorized by the U.S. Congress to regulate, among other things, the financial reporting practices of most public corporations?

Question: What is the accounting objective which best relates to the MACRS method?

Question: What is the phrase with no agreement on meaning which implies to most analysts that earnings quality increase with the likelihood of recurrence?

Question: What entry would a donor make when giving a cash donation to a charity?

Question: What is the accounting objective which best relates to the double declining balance method?

Question: What is the effect of the SOX on public companies?

Question: Which of the following accounts may appear on a company's balance sheet when the incomes for financial and tax reporting are different?