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