Business and accountancy - Study guides, Class notes & Summaries

What are the 10 steps in the ethical decision making model? - Answer- Step One: Recognize the Ethical Issue Step Two: Gather the Critical Facts Step Three: Identify the Stakeholders Step Four: Consider Alternatives Step Five: Consider the Effect on Stakeholders Step Six: Consider Your Comfort Level Step Seven: Consider Rules, Regulations, and Laws Step Eight: Make a Decision Step Nine: Document your Efforts Step Ten: Evaluate the Outcome What does recognizing a potential ethical issu...

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...

Breakeven - Answer The point when a firm's total costs equals its sales revenue. It is measured by the volume of output or number of customers needed to break even. Budgets - Answer A financial plan of how the money in a business will be used. The Budget refers to the financial plans of the government. Business objectives - Answer The targets which a business sets itself, e.g. to survive, make profits, increase market share, expand. Business ethics - Answer Moral principles, th...

Financial Accounting & Reporting with correct answers External transactions - What are those transactions economic events involving one entity and another entity? Internal transactions (production and casualty loss) - These are economic events involving the entity only. Measuring - This accounting process involves the accountable economic transactions and events as to Assigning of Peso Amounts Other assets - Advances to employees is under what line item in the balance she...

Wiley Exam Questions with 100% Correct Answers 2024 Which of the following is not a primary responsibility of an auditor: - answerProvide management with an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework. The phrase "generally accepted accounting principles" is an accounting term that - answerEncompasses the conventions, rules, and procedures necessary to define accepted accounti...

Wiley Exam Questions with 100% Correct Answers 2024 Which of the following is not a primary responsibility of an auditor: - answerProvide management with an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework. The phrase "generally accepted accounting principles" is an accounting term that - answerEncompasses the conventions, rules, and procedures necessary to define accepted accounti...

PHIL 102 MIDTERM EXAM guide (57 questions all with correct answers) A true or false approach Exam Guide with answers 1. T or F according to Hughes there are five problems that arise for professionals, the problem of finding a clientele, the problem of colleague relationships, the problem of money, the problem of freedom and the problem of authority False 2. T or F the professional asks that he be trusted but the client is not a true judge of the value of the service they receive True...

Wiley Exam Questions with 100% Correct Answers 2024 Which of the following is not a primary responsibility of an auditor: - answerProvide management with an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework. The phrase "generally accepted accounting principles" is an accounting term that - answerEncompasses the conventions, rules, and procedures necessary to define accepted accounti...

AUDITING THEORY MULTIPLE CHOICE Republic Act No. 9298 1. Which of the following is required for a partnership for public accountancy practice? a. At least one of the partners must be a CPA. b. All partners must be PICPA members. c. All partners must be CPAs. d. Firm name must contain names of partners only. 2. The “CPA Registration Number” shall be engraved in what part of the CPA’s seal? a. Upper portion of the space between the bigger and smaller circle. b. Lower portion of ...

Accounting is a service activity and its function is to provide quantitative information, primarily financial in nature, about economic entities, that is intended to be useful in making economic decisions. This accounting definition is given by a. Accounting Standards Council b. AICPA Committee on Accounting Technology c. American Accounting Association d. Board of Accountancy correct answers a. All of the following describe accounting, except a. A service activity b. An information...