Branches of accounting - Study guides, Class notes & Summaries

Accounting 2401 Final Exam Study Guide ACCOUNTING 2401 FINAL EXAM STUDY GUIDE   Accounting 2401 Final Exam Study Guide Multiple Choice (2.5 points each) 1. During 2014, Parker Enterprises generated revenues of $90,000. The company’s expenses were as follows: cost of goods sold of $45,000, operating expenses of $18,000 and a loss on the sale of equipment of $3,000. Parker’s gross profit is a. $24,000. b. $27,000. c. $45,000. d. $90,000. 2. During 2014, Parker Ente...

CITP Exam Questions with Answers Latest Updated 2024/2025 Rated A+ | Graded. Application Controls - Answer Internal controls around applications that operate at a transaction level and ensure authorization, protect against unauthorized access, errors, unauthorized reporting, and extra care around high-rise transactions Artificial Intelligence (AI) - Answer Computer science that involves automated reasoning and problem solving, emulating human intelligence Assertion Level Risks - Answer Risk...

CITP Exam Questions with Correct Answers Latest 2024/2025 Graded A+. Application Controls - Answer Internal controls around applications that operate at a transaction level and ensure authorization, protect against unauthorized access, errors, unauthorized reporting, and extra care around high-rise transactions Artificial Intelligence (AI) - Answer Computer science that involves automated reasoning and problem solving, emulating human intelligence Assertion Level Risks - Answer Risks limite...

Retail firms - full service and discount brokerage firms for individuals. Institutional firms - includes pension funds, mutual funds, and insurance companies. Integrated firms - contains all aspects of retail and institutional firms. Front office - in charge of portfolio management, marketing, sales, and trading. Middle office - in charge of compliance, accounting, audits, and legal. Back office - in charge of settlements and clearing. Schedule I banks - large domestic banks. There are own...

Which of the following statements is true? Correct Answer-Managerial accounting reports are less regulated than financial accounting reports. Which of the following branches of accounting focuses more on historical data? Correct Answer-Financial Accounting The Financial Accounting Standards Board (FASB) establishes standards for the preparation of financial accounting reports while the Securities and Exchange Commission (SEC) establishes standards for the preparation of managerial accounti...

What are financial statements? business documents companies use to report the results of their activities to people and groups Basic financial statements income statement, statement of retained earnings, balance sheet, statement of cash flows What does the word net refer to in accounting an amount after a subtraction What is net income or profit excess of revenues over expenses (rev - expenses= net income) Where do you find net sales? income statement _________ is an information system that...

CDFM Module 3.1 Questions and Answers Rated A Fiscal Law is based on the premise that Appropriations are only available for obligation and expenditure when specifically approved by the Congress, not that we can use appropriations unless specifically prohibited by Congress. GAO Principles of Federal Appropriation Law (The Redbook) The most authoritative source of information on the proper use of appropriated funds. Budget and Accounting Act of 1921 Required the President to submit an annual bud...

CDFM Test 3 Complete Questions With 100% Verified answers What are the Three tests that must be met for use of the Necessary Expense doctrine 1. Must bear a logical relationship 2. Not Prohibited by law 3. Not funded elsewhere who grants relief of liability to a certifying officer for erroneous or illegal payments in the DoD DFAS What did the Budget and Accounting Act of 1921 do 1. Required President to submit annual budget for all 3 branches of Government 2. Created Bureau of B...

Federalism - Answer Power is distributed among different levels of government, no one level has complete authority Sovereignty - Answer National government cant be sued by states or citizens without its permission Popular Sovereignty - Answer Citizens hold ultimate authority through the ballot; even a sovereign government is accountable to citizens Primary Purpose of Government - Answer Provide services to its citizens 10th Amendment - Answer Aka - reserved Clause National governm...

FIN3703 Assignment 2 (COMPLETE QUESTIONS & ANSWERS) Semester 2 2024 - DUE 7 September 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... Dalton Ltd – is the third largest South African manufacturer of high-quality JoJo tanks with its head offices situated in Midrand. The company owns four branches: one in Naturena, the second in Ennerdale, the third in Pachuca and the fourth in Roodep...