Finance And Accounting

Question: What change was made in regarding the penalization of the whistleblowers (people who alert the authorities about the illegal activities in a corporation) by the companies?
A
They are now themselves subject to fraud charges for uncovering the crimes

B
They are put under witness protection

C
They are offered a transfer to a new department

D
They are now protected against retaliation by the company in order to encourage employees to bring the wrong doings of the companies to light

Note: Not available
1. Report
Question: Which of the following courses of action should a firm take in order to minimize the present value of income tax payments?
A
Use the LIFO inventory method instead of FIFO durating periods of rising prices

B
Depreciate fixed assets on the straight-line method rather than the MACRS method

C
Capitalize exploration costs instead of expensing them

D
All of the above

Note: Not available
1. Report
Question: What kind of organization issuing securities would NOT have to register them with the SEC?
A
A private IT firm

B
The government

C
A publicly traded book publisher

D
A firm with no revenue

Note: Not available
1. Report
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

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Question: What change was made in regarding the penalization of the whistleblowers (people who alert the authorities about the illegal activities in a corporation) by the companies?

Question: Which of the following courses of action should a firm take in order to minimize the present value of income tax payments?

Question: What kind of organization issuing securities would NOT have to register them with the SEC?

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?