Accounting

Which of the following doesnothave to be considered in determining the initial sample size of a test ...

Which of the following doesnothave to be considered in determining the initial sample size of a test ...

[html]Which of the following does not have to be considered in determining the initial sample size of a test of details?

▸ tolerable misstatement

▸ acceptable risk of incorrect rejection

▸ estimate of missta

msidhu   9   1 Reply

duhello

The accumulated and vested benefit obligations typically are different amounts.

The accumulated and vested benefit obligations typically are different amounts.

The accumulated and vested benefit obligations typically are different amounts.
[True or False?]

mononofu_id   10   3 Replies

DragonHeart

When should the cost of termination benefits be recognized?

When should the cost of termination benefits be recognized?

When should the cost of termination benefits be recognized?

brandanb6   11   1 Reply

ola

A $10,000 gain earned on stock held 13 months is taxed in a more favorable manner than a $10,000 ...

A $10,000 gain earned on stock held 13 months is taxed in a more favorable manner than a $10,000 ...

A $10,000 gain earned on stock held 13 months is taxed in a more favorable manner than a $10,000 gain earned on stock held 11 months.

▸ true

▸ false

cpa0511   11   1 Reply

R231

Which of the following verifications would generallynotbe performed by the auditor in the month ...

Which of the following verifications would generallynotbe performed by the auditor in the month ...

[html]Which of the following verifications would generally not be performed by the auditor in the month subsequent to the balance sheet date?

▸ Foot the lists of all canceled checks, debit memos, deposits, and

zbuild007   11   1 Reply

kitty123

______________________________ are applied to all IT service activities. (Fill in the blank)

______________________________ are applied to all IT service activities. (Fill in the blank)

_____________________________ _ are applied to all IT service activities.
 Fill in the blank(s) with correct word


(Q. 2) How are liabilities classified on the balance sheet?
 
  A) paid and unp

heyoplshelp   12   3 Replies

Melisaerickson

One advantage of using standard times to develop a budget is they are simple to compile, are based ...

One advantage of using standard times to develop a budget is they are simple to compile, are based ...

One advantage of using standard times to develop a budget is they are simple to compile, are based solely on the past actual history, and do not require expected future changes to be taken into account.
[True or False]

asdf300   12   2 Replies

asdf300

Why is it important for accountants to understand the structure of the Codification?

Why is it important for accountants to understand the structure of the Codification?

Why is it important for accountants to understand the structure of the Codification?

demerska   12   2 Replies

demerska

Refer to Kramer Iron Works. Allocate the transaction price using the adjusted market assessment approach.

Refer to Kramer Iron Works. Allocate the transaction price using the adjusted market assessment approach.

Refer to Kramer Iron Works. Allocate the transaction price using the adjusted market assessment approach.

AdamPG14   12   2 Replies

AdamPG14

Which of the following is not an operating liability?

Which of the following is not an operating liability?

Which of the following is not an operating liability?
A) bonds payable
B) unearned revenue
C) customer deposits
D) compensated absences

shimaa farouk   12   2 Replies

shimaa farouk

For a lease to exist, it must meet two criteria: ________.

For a lease to exist, it must meet two criteria: ________.

For a lease to exist, it must meet two criteria: ________.
A) (1) there must be an identified asset and (2) the lessee must have the right to control that asset over the lease term
B) (1) there must be an identified asset and (2) the lessor must ha

mzeplin   12   3 Replies

byehoe

The portion of the obligation than plan participants are entitled to receive regardless of their ...

The portion of the obligation than plan participants are entitled to receive regardless of their ...

The portion of the obligation than plan participants are entitled to receive regardless of their continued employment is called the ________.
A) retiree benefit obligation
B) projected benefit obligation
C) accumulated benefit obligation
D) veste

Kei-Fukuda   12   2 Replies

Kei-Fukuda

The income statement also is called the statement of financial position.

The income statement also is called the statement of financial position.

The income statement also is called the statement of financial position.

Luikennoah   12   3 Replies

brown_02

Rena and Ronald, a married couple, each earn a salary of $200,000. They will be required to ...

Rena and Ronald, a married couple, each earn a salary of $200,000. They will be required to ...

Rena and Ronald, a married couple, each earn a salary of $200,000.  They will be required to pay additional payroll taxes in 2016 of

▸ $0.

▸ $1,350.

▸ $1,800.

▸ $5,800.

thebraunzmedal   12   1 Reply

Stop

When a client uses a service center for processing transactions,

When a client uses a service center for processing transactions,

[html]When a client uses a service center for processing transactions,

▸ the auditor can assume that the controls are adequate because it is an independent enterprise.

▸ auditing standards require the auditor to test the service center's controls i

dex0388   12   1 Reply

ndedrick

If there is an adjustment to retained earnings resulting from a change in accounting principle, the ...

If there is an adjustment to retained earnings resulting from a change in accounting principle, the ...

[html]If there is an adjustment to retained earnings resulting from a change in accounting principle, the auditor should test the prior period effects of the change, but not test the entry to adjust prior period balances or retained earnings.

▸ true

phoebe.lou   12   1 Reply

bizmailova

Inquiries of management regarding the possibility of unrecorded contingencies will be useful in uncovering

Inquiries of management regarding the possibility of unrecorded contingencies will be useful in uncovering

[html]Inquiries of management regarding the possibility of unrecorded contingencies will be useful in uncovering

▸

tawhid111   12   1 Reply

xueli

Flyers Inc. had the following activities during 2015:

Flyers Inc. had the following activities during 2015:

Flyers Inc. had the following activities during 2015:

Direct materials:
Beginning inventory$ 22,000
Purchases61,600
Ending inventory10,800
Direct manufacturing labor18,000
Manufacturing overhead11,500
Beginning work-in-process inventory1,000

emanuell19   13   3 Replies

RAYRAY

After a budget is agreed upon and finalized by the management team, the amounts should NOT be ...

After a budget is agreed upon and finalized by the management team, the amounts should NOT be ...

After a budget is agreed upon and finalized by the management team, the amounts should NOT be changed for any reason.
[True or False]

vfairch   13   2 Replies

vfairch

Computer-based systems, like ERP, help managers budget for all manufacturing costs but lack the ...

Computer-based systems, like ERP, help managers budget for all manufacturing costs but lack the ...

Computer-based systems, like ERP, help managers budget for all manufacturing costs but lack the ability to help managers budget for non-manufacturing costs.
[True or False]

Meesh1234   13   1 Reply

dariana_jimenez

A standard is attainable through efficient operations but allows for normal disruptions such as ...

A standard is attainable through efficient operations but allows for normal disruptions such as ...

A standard is attainable through efficient operations but allows for normal disruptions such as machine breakdowns and defective production.
[True or False]

aswizzlebizzle   13   2 Replies

aswizzlebizzle

Costs of quality (COQ) reports usually consider opportunity costs.

Costs of quality (COQ) reports usually consider opportunity costs.

Costs of quality (COQ) reports usually consider opportunity costs.
[True or False]

billyd1996   13   2 Replies

billyd1996

What are the annual relevant carrying costs?

What are the annual relevant carrying costs?

What are the annual relevant carrying costs?
A) $7,122
B) $8,265
C) $9,057
D) $7,157

brake   13   2 Replies

brake

An investment center is always a decentralized subunit.

An investment center is always a decentralized subunit.

An investment center is always a decentralized subunit.
[True or False]

lulu123   13   3 Replies

connorfitz

Approval of a contract by the parties must be in writing.

Approval of a contract by the parties must be in writing.

Approval of a contract by the parties must be in writing.
[True or False]

Cdeakle   13   2 Replies

Cdeakle

According to the FASB, when a seller has collected cash, the earnings process is virtually complete.

According to the FASB, when a seller has collected cash, the earnings process is virtually complete.

According to the FASB, when a seller has collected cash, the earnings process is virtually complete.
[True or False]

clmt2010   13   2 Replies

clmt2010

When more than one different type of asset is acquired in one purchase transaction, the total ...

When more than one different type of asset is acquired in one purchase transaction, the total ...

When more than one different type of asset is acquired in one purchase transaction, the total purchase price is allocated among the assets in proportion to their fair values.
[True or False]

kwillywilly   13   1 Reply

jimjones445

List the three additional indicators that IFRS recognizes individually or in combination that could ...

List the three additional indicators that IFRS recognizes individually or in combination that could ...

List the three additional indicators that IFRS recognizes individually or in combination that could lead to classifying a lease as a finance lease.

hellothere2   13   1 Reply

jayfo05

Seidner, Inc. provides the following data:

Seidner, Inc. provides the following data:

Seidner, Inc. provides the following data:

20172016
Assets
Current Assets:
     Cash and Cash Equivalents$29,000$25,000
     Accounts Receivable, Net33,00062,000
     Merchandise Inventory53,00050,000
Total Current Assets$115,000137,000
Pro

tori.warner   13   1 Reply

hnm123

The general terminology used to describe income tax expense when disclosed in the financial

The general terminology used to describe income tax expense when disclosed in the financial

The general terminology used to describe income tax expense when disclosed in the financial
statements is:
A) Income tax expense
B) Income tax benefit
C) Provision for income tax expenses
D) Tax expense

marktrick   13   2 Replies

marktrick

Taxes are recovered at the tax rate in effect during the year of the loss.

Taxes are recovered at the tax rate in effect during the year of the loss.

Taxes are recovered at the tax rate in effect during the year of the loss.
[True or False?]

xonotes   13   3 Replies

Josh

A firm has a $40,000 balance in its pension liability account. This me

A firm has a $40,000 balance in its pension liability account. This me

A firm has a $40,000 balance in its pension liability account. This me
A) the plan is underfunded
B) accrued pension obligation is less than plan assets at fair value
C) pension expense recognized to date exceeds total contributions to the pension

jmarc   13   3 Replies

megan.xo

Recognition of pension expense is primarily based on the:

Recognition of pension expense is primarily based on the:

Recognition of pension expense is primarily based on the:
A) cost principle.
B) revenue principle.
C) matching principle.
D) full disclosure principle.

askhat9   13   1 Reply

Ace_AZ

Pension related estimates (not funding data) are provided by the:

Pension related estimates (not funding data) are provided by the:

Pension related estimates (not funding data) are provided by the:
A) employer company.
B) independent actuary.
C) pension fund trustee.
D) employee union.

scavanger411   13   2 Replies

scavanger411

Under the tax concept of income, all realized income is recognized and subject to tax.

Under the tax concept of income, all realized income is recognized and subject to tax.

Under the tax concept of income, all realized income is recognized and subject to tax.

▸ true

▸ false

Gurren1   13   1 Reply

DiandraGreen

Adam purchased stock in 2006 for $100,000. He is considering selling it in 2016. It is currently ...

Adam purchased stock in 2006 for $100,000. He is considering selling it in 2016. It is currently ...

[html]Adam purchased stock in 2006 for $100,000. He is considering selling it in 2016.  It is currently worth $2,100,000 so he would realize a $2,000,000 gain. Adam is in the top tax bracket. Determine the taxes due under the following independent si

abc123   13   1 Reply

college98

Which of the following may represent the biggest challenge smaller public companies and nonpublic ...

Which of the following may represent the biggest challenge smaller public companies and nonpublic ...

[html]Which of the following may represent the biggest challenge smaller public companies and nonpublic companies face in implementing effective internal control?

▸ a lack of competent, trustworthy personnel

▸ no clear lines of authority

▸ no adeq

salonijainnn   13   1 Reply

realistpnoy

There is inherent risk of payroll fraud because most transactions involve

There is inherent risk of payroll fraud because most transactions involve

There is inherent risk of payroll fraud because most transactions involve

▸ expense accounts.

▸ accrued liabilities.

▸ estimates.

▸ cash.

MrsSmitty   13   1 Reply

abu-jahdo

Which of the following statements is correct?

Which of the following statements is correct?

[html]Which of the following statements is correct?

▸ Bank personnel are responsible for providing reasonable assurance that a response to a bank confirmation is accurate.

▸ Bank personnel are responsible for providing complete assurance that a ban

alireads   13   1 Reply

jewelzzP

A data warehouse or infobarn ________.

A data warehouse or infobarn ________.

A data warehouse or infobarn ________.
A) is reserved for exclusive use by the CFO
B) is primarily used for financial reporting purposes
C) stores information used by different managers for multiple purposes
D) gathers only nonfinancial infor

Cookiemonster   14   2 Replies

Cookiemonster