Finance And Accounting

Question: What was the purpose of the Sarbanes Oxley act, in general?
A
To allow for caps on management salaries

B
To allow for price setting on the stock market

C
To regulate employee pension funds

D
To better regulate public and private companies in the wake of recent accounting scandals

Note: Not available
1. Report
Question: What are forms 10K and 10Q referred to as?
A
Periodic Filings

B
Financial Statements

C
Information Returns

D
Tax Returns

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

B
IASC

C
FASB

D
None of the above

Note: Not available
1. Report
Question: Which of the following methods would be employed to help accomplish the following objective: smoothing a firm's income as a means of minimizing large fluctuations in the price of its stock.
A
Weighted average inventory

B
Percentage of completion method for long term construction contracts

C
Straight line amortization of patents

D
All of the above

Note: Not available
1. Report
Question: What is the doctrine that the firm should account for a given set of operations so as to make reported net income as large as possible known as?
A
Conservatism

B
Quality of Earnings

C
Profit Maximization

D
Matching

Note: Not available
1. Report
Question: Which of the financial accounting objectives listed below would seem to be closest to the objective of tax reporting?
A
Conservatism

B
Fair Presentation

C
Accuracy

D
Profit Maximization

Note: Not available
1. Report
Question: What is 'paying the least amount of taxes as late as possible within the law to minimize the present value of tax payments for a given set of operations' a description of?
A
Profit Maximization

B
Least and Latest Rule

C
Conservatism

D
Income Smoothing

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

B
Profit Maximization

C
Tax Minimization

D
None of the above

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

B
Accurate Presentation

C
Conservatism

D
None of the above

Note: Not available
1. Report
Question: How should a firm compensating its employees by granting them the option to purchase its shares report it?
A
Merely disclose the cost of those grants

B
Charge that cost as expense for the period during which it makes the grant

C
Choose either of the options a and b

D
Neither a nor b

Note: Not available
1. Report

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Question: What was the purpose of the Sarbanes Oxley act, in general?

Question: What are forms 10K and 10Q referred to as?

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

Question: Which of the following methods would be employed to help accomplish the following objective: smoothing a firm's income as a means of minimizing large fluctuations in the price of its stock.

Question: What is the doctrine that the firm should account for a given set of operations so as to make reported net income as large as possible known as?

Question: Which of the financial accounting objectives listed below would seem to be closest to the objective of tax reporting?

Question: What is 'paying the least amount of taxes as late as possible within the law to minimize the present value of tax payments for a given set of operations' a description of?

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

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

Question: How should a firm compensating its employees by granting them the option to purchase its shares report it?