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Bookkeeping Certification Exam (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass
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Bookkeeping Certification Exam (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass
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Bookkeeping Certification.pdf file:///C:/Users/HP/Desktop/pppppp/Bookkeeping%20CertificationBookkeeping Certification Exam
1. The review of financial statements to assess their fairness and adherenceto GAAP is
ANS auditing
2. An independent accountant who performs financial audits is a
ANS CertifiedPublic Accountant (CPA)
3. To become a CPA, an individual
ANS must have a certain number of college creditsin accounting courses.
pass the Uniform CPA Examination.
fulfill the experience requirements of the state of practice.
4. Which of the following is not a service typically provided by a public ac-counting
firms?
ANS Investing services
5. The entity that has final authority over the financial reporting of publiclyowned
corporations is the
ANS Securities and Exchange Commission (SEC).
6. Which of the following is not a provision of the Sarbanes-Oxley Act?
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ANS The Sarbanes-Oxley Act allows accountants from offering a broad range of consulting
services to publicly traded companies that they audit.
7. The following are all government agencies except
ANS American Institute of Cer-tified Public Accountants (AICPA).
8. The following are all characteristics of a sole proprietorship except
ANS
A soleproprietorship is legally separate from its owner.
9. The financial statements submitted by a corporation to the SEC include theauditor's
report. The auditor's report
ANS
confirms that the financial information is prepared in conformity with generally accepted
accounting principles.
10. The group of accounting educators who perform research to determine the possible
effects on financial reporting and the economy and then offer their opinions about
proposed FASB statements is the
ANS American AccountingAssociation (AAA).
11. When J. Simmons, the owner, invests in her business, the transactionwould be
entered on the
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ANS right side of the J. Simmons, Capital T account.
12. Modern products paid cash to a creditor.To record this transaction, theaccountant
would
ANS debit Accounts Payable and credit Cash.
13. The normal balance of an account is the
ANS increase side of the account.
14. Which of the following types of accounts normally have debit balances?-
ANS Expenses and assets
15. Which of the following groups contain only accounts that normally havecredit
balances?
ANS Fees Income and John Smith, Capital
16. Which of the following decreases owner's equity?
ANS Expenses
17. If the trial balance totals are not equal, the error may have been caused bya
transposition if the difference is divisible by
ANS 9
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