Lesson 1 exam question 1 5 / 5 points which financial statement
Lesson 1 Exam
Question 1 5 / 5 points
Which financial propose presents the results of operations?
Question options:
Balance subterfuge
Statement of financial pose
Income proposition
Statement of coin flows
Question 2 5 / 5 points
Which relation is NOT exactd to be finishd by social companies to the SEC?
Question options:
Annual relations (Form 10-K)
Financial Reporting Rulings
A bill for any new safety offering
Quarterly relations (From 10-Q)
Question 3 5 / 5 points
Why does the skill discourse and segregation aid the analyst?
Question options:
It contains notice that cannot be rest in the financial axioms.
It provides predictions of all forthcoming financial propose mass.
It outlines the accounting choices made by the unshaken.
It explains the communicate valuation of the unshaken's store.
Question 4 5 / 5 points
What notice can be rest on a poise subterfuge?
Question options:
Information to prop that goods similar liabilities
The emolument or mislaying for the accounting epoch
The reasons for changes in the coin account
The financial pose on a detail limit; i.e. goods, liabilities and shareholders' equity
Question 5 5 / 5 points
How are revenues and expenses certain subordinate the accrual premise of accounting?
Question options:
Revenues are certain when coin is current and expenses are certain when coin is paid.
Revenues and expenses are certain similarly balance a twelve month epoch.
Revenues and expenses are certain domiciled on the choices of skill.
Revenues are certain in the accounting epoch when the sale is made and expenses are certain in the epoch in which they recount to the sale of the result.
Question 6 5 / 5 points
Which of the forthcoming is an exterior fount of liquidity?
Question options:
Sales of services
Repurchase of store
Borrowing
Sales of results
Question 7 5 / 5 points
Which financial propose provides notice about untrammelled, financing and investing activities?
Question options:
Statement of financial pose
Statement of coin flows
Statement of storeholders' equity
Income proposition
Question 8 5 / 5 points
Which financial propose shows the goods, liabilities and storeholders' equity of the unshaken on a detail limit?
Question options:
Statement of storeholders' equity
Statement of coin flows
Earnings proposition
Balance subterfuge
Question 9 5 / 5 points
What does Section 404 of the Sarbanes-Oxley Act of 2002 exact?
Question options:
The exterior auditors must form an complete inner moderate architecture for the unshaken being audited.
The exterior auditors must second of all inner auditors remunerated by a unshaken.
The inclusion of an inner moderate relation in the annual relation.
The exterior auditors want to act inner audit services.
Question 10 5 / 5 points
What cast of audit relation indicates that the financial propositions accept NOT been presented fairly?
Question options:
A censure of opinion
An absolute relation
A adapted relation
An counteractive opinion
Question 11 5 / 5 points
What construction has the antecedent to record, supervise, and coercion auditors of all socially owned companies?
Question options:
Public Assemblage Accounting Oversight Board
SOX
Congress
FASB
Question 12 5 / 5 points
Which of the forthcoming is an inner fount of liquidity?
Question options:
Borrowing
Sales of store
Gifts and donations
Sales of results or services
Question 13 5 / 5 points
What cast of audit relation indicates that the financial propositions accept been presented fairly?
Question options:
An absolute relation
A censure of opinion
A adapted relation
An counteractive opinion
Question 14 5 / 5 points
Which exercise exacts the filing of Form 10-Ks, Form 10-Qs and Form 8-Ks?
Question options:
FASB
IASB
SEC
GAAP
Question 15 5 / 5 points
According to Section 302 of the Sarbanes-Oxley Act, who must avow the correctness of the financial propositions of a social assemblage?
Question options:
Public Assemblage Accounting Oversight Board
SEC
External auditor
CEO and CFO
Question 16 5 / 5 points
The globalization of concern soul has resulted in which of the forthcoming?
Question options:
Increased adulteration and unethical behavior
A conformable set of accounting rules in all countries
The FASB and IASB afloat jointly on a device to conduce accounting standards
The exactment that U.S. unshakens use interdiplomatic accounting rules as of 2006
Question 17 5 / 5 points
In what perseverance would it be expected that companies would consume a momentous whole on elaboration and product activities?
Question options:
Pharmaceutical
Clothes retailer
Groceries
Wholesale distributor of computer parts
Question 18 5 / 5 points
Which of the forthcoming propositions is gentleman?
Question options:
Foreign unshakens recorded delay the SEC may finish relations domiciled on IFRS.
U.S. unshakens recorded delay the SEC may finish relations domiciled on IFRS.
The European Union exacts unshakens to relation domiciled on GAAP.
Foreign unshakens recorded delay the SEC may finish relations domiciled on IFRS singly if they adjust all wholes to GAAP.
Question 19 5 / 5 points
Which of the forthcoming items is a discretionary outgoings?
Question options:
Union wages
Factory architecture to amount inventory
Advertising
Taxes
Question 20 5 / 5 points
What basic financial propositions can be rest in a corporate annual relation?
Question options:
Balance subterfuge, allowance proposition, propose of shareholders' equity, and propose of coin flows
Balance subterfuge, auditor's relation and allowance proposition
Earnings propose and propose of retained earnings
Statement of coin flows and five-year digest of key financial axioms