ACCT410 EXAMS BUNDLE||Questions Solved 100% Correct | Verified Answers

Managerial accounting - ANSWER information for decision making, planning, and controlling an organization's operations (internal users) Primary role of managerial accounting - ANSWER Provide information for decision making and planning, Assist in directing and controlling activities, Motivate th...

preventive control - ANSWER segregation of duties detective control - ANSWER A requirement to prepare bank reconciliations corrective control - ANSWER Maintaining backups of data segregation of duties is a control aimed at ____ misstatement - ANSWER preventing the requirement to ____ journal ent...

Which of the following are characteristics of a liability? 1 Are measured, recorded, and reported at their face amount. 2 The liability transaction must have already occurred. 3 The company has little or no discretion to avoid the future sacrifice of economic benefits. - ANSWER 2 and 3 On Septe...

Proprietorship - ANSWER 1) one owner controlled 2) Tax advantages 3)unlimited liability for owner 4)relatively difficult to transfer ownership and raise new capital Partnership - ANSWER 1) shared owned control 2)Tax advantages 3)unlimited liability for owners 4)difficult to transfer ownership...

The client began purchasing inventory from a major stockholder. - ANSWER increase The client changed insurance carriers because the rates were more favorable. - ANSWER no change Two members of the client's audit committee resigned. - ANSWER increase The client added to the staff of the interna...