Accounting Principles, Finance And Accounting

Question: What factors affect the balance sheet, given the articulation of the income statement with the balance sheet and the factors that imply high or low quality of earnings?
A
Quality of Financial Position

B
Profit Maximization

C
Quality of Earnings

D
Conceptual Framework

Note: Not available
1. Report
Question: What is the phrase which, though there is no agreement on its meaning, implies to most analysts that the quality of earnings improves with the likelihood of recurrence?
A
Quality of Financial Position

B
Quality of Earnings

C
Least and Latest Rule

D
Accurate Presentation

Note: Not available
1. Report
Question: What is the accounting objective which best relates to the disclosing of the cost of employee stock options (not expensing)?
A
Conservatism

B
Profit Maximization

C
Income Smoothing

D
Tax Minimization

Note: Not available
1. Report
Question: What is the purpose of a Registration Statement?
A
To offer securities to the public

B
To disclose the operations during the first year

C
To provide information to the public about a company before it is traded publicly

D
Financial records for the company from inception to date

Note: Not available
1. Report
Question: Which of the following is true of the Sarbanes Oxley Act?
A
It has bolstered investor confidence

B
It has increased all stock prices

C
It has increased the number of foreign corporations registering in the US

D
It has created more work for corporate accounting departments

Note: Not available
1. Report
Question: For which of the following accounts would the use of 'the lower of cost or market price' principle be acceptable?
A
Inventory

B
Land

C
Prepaid rent

D
All of the above

Note: Not available
1. Report
Question: Which of the following is a valid criticism of the SOX?
A
It has made regulations more strict

B
It has made foreign companies reluctant to register on US stock exchanges due to the burden of SOX reporting

C
It allows for looser corporate standards

D
It makes a few people accountable for the misdeeds of a corporation

Note: Not available
1. Report
Question: Which of the following must generally be used for financial reporting if it is used for income tax reporting?
A
FIFO

B
LIFO

C
NIFO

D
Installment sales method

Note: Not available
1. Report
Question: What is the reporting objective that calls for the anticipation of all losses incurred but defers the recognition of gains or profits until they are realized in arm's length transactions?
A
Conservatism

B
Materialism

C
Matching

D
Smoothing

Note: Not available
1. Report
Question: Which of the following is used by the FASB in the selection of acceptable accounting principles?
A
Conservatism

B
Matching

C
Materialism

D
Conceptual Framework

Note: Not available
1. Report

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Question: What factors affect the balance sheet, given the articulation of the income statement with the balance sheet and the factors that imply high or low quality of earnings?

Question: What is the phrase which, though there is no agreement on its meaning, implies to most analysts that the quality of earnings improves with the likelihood of recurrence?

Question: What is the accounting objective which best relates to the disclosing of the cost of employee stock options (not expensing)?

Question: What is the purpose of a Registration Statement?

Question: Which of the following is true of the Sarbanes Oxley Act?

Question: For which of the following accounts would the use of 'the lower of cost or market price' principle be acceptable?

Question: Which of the following is a valid criticism of the SOX?

Question: Which of the following must generally be used for financial reporting if it is used for income tax reporting?

Question: What is the reporting objective that calls for the anticipation of all losses incurred but defers the recognition of gains or profits until they are realized in arm's length transactions?

Question: Which of the following is used by the FASB in the selection of acceptable accounting principles?