Finance And Accounting

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
Question: What is the accounting objective which best relates to the Lower of Cost or Market Price method?
A
Accurate Presentation

B
Tax Minimization

C
Profit Maximization

D
Conservatism

Note: Not available
1. Report
Question: Which of the following is a method of accounting for the exploration costs of a mineral resource that would best attain the objective of income tax accounting?
A
Expense in total when incurred

B
Capitalize only the costs related to mineral deposits

C
Capitalize all costs associated with productive as well as non-productive mineral deposits

D
None of the above

Note: Not available
1. Report
Question: What is the accounting objective which best relates to the straight line method?
A
Profit Maximization

B
Conservatism

C
Tax Minimization

D
None of the above

Note: Not available
1. Report
Question: How is an unconditional promise to give a donation to a charity accounted for by the charity?
A
Not recorded at all until 100% contribution is received

B
Never recorded even after receipt

C
As revenue only when the donation is made

D
As revenue when the promise is made

Note: Not available
1. Report
Question: What is the acronym for the independent board responsible, since 1973, for establishing generally accepted accounting principles?
A
GAAP

B
IASC

C
SEC

D
FASB

Note: Not available
1. Report
Question: What is form 8-K?
A
Monthly filing with the SEC reporting director salaries

B
As needed filing to disclose any significant issues or changes

C
Quarterly financial reports filed with the SEC

D
Annual financial reports filed with the SEC

Note: Not available
1. Report
Question: Who can review the filings made by public companies with the SEC?
A
Only company executives

B
Anyone using the EDGAR system

C
Only law enforcement officials

D
Only the staff of the SEC and the company executives

Note: Not available
1. Report

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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?

Question: What is the accounting objective which best relates to the Lower of Cost or Market Price method?

Question: Which of the following is a method of accounting for the exploration costs of a mineral resource that would best attain the objective of income tax accounting?

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

Question: How is an unconditional promise to give a donation to a charity accounted for by the charity?

Question: What is the acronym for the independent board responsible, since 1973, for establishing generally accepted accounting principles?

Question: What is form 8-K?

Question: Who can review the filings made by public companies with the SEC?