Business and accountancy - Study guides, Class notes & Summaries

Accounting Interview Questions And Answers Guide.Question # 1 Why do you want to be an accountant? Answer:- A stereotypical answer to this question is that accountancy offers a respected professional qualification which can lead on to a wide range of opportunities in business. This is all true, but it doesn't answer the question of why YOU want to become an accountant - and if you give as general an answer as this, you can expect to be questioned in detail on the nature of the qualificati...

Cost Accounting Foundations & Evolutions 10e By Kinney, Raiborn, Dragoo (Solutions Manual). Table&of&Contents& Chapter 1 Introduction to Cost Accounting .................................................... 1 Chapter 2 Cost Terminology and Cost Behaviors .......................................... 13 Chapter 3 Predetermined Overhead Rates, Flexible Budgets, and Absorption/Variable Costing .......................................................... 41 Chapter 4 Activity-Based Management and Ac...

What is statement of comprehensive income?? - Answer It is a financial report which records sales revenue, expenses, how much profit and loss a business made Purpose and use of the statement of comprehensive income - Answer - accurate calculation of the profit and loss a business made - records sales, costs and profit over a period of time (usually a yr.) What are cost of sales? - Answer These are direct costs attributable to the production of the goods sold in a company Cost ...

MIE 305 Final Exam Questions And Answers 100% Verified When choosing an organizational form, entrepreneurs should consider: - answerEase of creation Owners' liability--maximize gain, limit risk of loss Tax considerations--pass through or entity tax? Ability to raise capital--Private funding or shares? Basic forms of Business Organization - answerSole proprietorships--> one person owns it Partnerships--> Multiple people own it Corporations--> Ownership to shareholders Franchis...

ICAEW BTF C10 Structure and regulation of the accountancy profession FRC (Financial Reporting Council) comprises: - correct answer the Conduct Committee + the Codes and Standards Committee Regulation of professions should NOT protect the profession's vested interests from competition in order to maintain public trust - correct answer True To appeal Disciplinary Committee decision - correct answer Appeal committee To appeal Investigation Committee decision - correct answer Discipli...

Cost Accounting Foundations & Evolutions 10e By Kinney, Raiborn, Dragoo (Solutions Manual). Table&of&Contents& Chapter 1 Introduction to Cost Accounting .................................................... 1 Chapter 2 Cost Terminology and Cost Behaviors .......................................... 13 Chapter 3 Predetermined Overhead Rates, Flexible Budgets, and Absorption/Variable Costing .......................................................... 41 Chapter 4 Activity-Based Management and Ac...

PLS2601 Critical Reasoning 50 Marks Duration 3 Hours This paper consists of 8 pages. Instructions: 1) This is a “take home” examination. You have 3 hours to complete it. 2) Complete all the questions that follow. 3) Ensure that you follow the individual instructions given for each question. 4) Number your answers correctly. 5) Provide both in-text and bibliographic references in your answer where you have used them. 6) You are reminded that an Honesty Declaration should...

ACCA FA1 (In your studies for the ACCA Foundations in Accountancy qualification, and specifically for this paper on transaction accounting, you will be concerned with business transactions. There is no one definition of a business, although we all know more or less what it is. Broadly speaking it is a commercial organisation, large or small, which exists to make money or profits for its owners. It may make this money by manufacturing and/or selling goods or services)

WPC 150: Accountancy Quiz Latest 2024 Graded A+ Resources that a firm owns are called assets When companies owe money to creditors, suppliers, and others, these outstanding amounts are recorded on the balance sheet as liabilities. Accounting provides financial information that can be useful to owners, creditors, suppliers, employees, and investors of an organization. True What is an example of a financial transaction? A firm purchases a fire insurance policy. Accounting provi...

1. Which of the following statements best describes why the CPA profession has deemed it essential to promulgate a code of professional ethics and to establish a mechanism for enforcing observation of the Code? a. A distinguishing mark of profession is its acceptance of responsibility to the public. b. A pre-requisite to success is the establishment of an ethical code that primarily defines the professional's responsibility to clients and colleagues. c. A requirement of most state laws calls...