CPA PROGRAM AUSTRALIA FINANCIAL REPORTING DIGITAL FINANCE ADVANCED UPDATED ACTUAL

CPA PROGRAM AUSTRALIA FINANCIAL REPORTING DIGITAL FINANCE ADVANCED
UPDATED ACTUAL EXAM QUESTIONS CORRECT ANSWERS GRADED A PLUS




Question:
Financial Accounting.

Answer:
External decision making.



Question:
Managerial Accounting.

Answer:
Internal decision making.



Question:
Certified Public Accountants (CPA).

Answer:
Serves the general public.



Question:
Chartered Global Management Accountant (CGMA).

Answer:
Advanced knowledge in finance, operations, management, and strategy.



Question:
Certified Management Accountant (CMA).

,Answer:
Specializes in accounting and financial management knowledge.



Question:
Certified Financial Planners (CFP).

Answer:
Help individuals budget, plan retirement, save for education and manage finances.



Question:
Financial Accounting Standards Board (FASB).

Answer:
Oversees creation and governance of accounting standards and sets guidelines.



Question:
Generally Accepted Accounting Principles (GAAP).

Answer:
Accounting guidelines.



Question:
Securities and Exchange Commission (SEC).

Answer:
Regulates public companies.



Question:
Economic Entity Assumption.

Answer:

, An organization that stands apart as a separate economic unit.



Question:
Sole Proprietorship.

Answer:
An economic entity with 1 owner.



Question:
Partnership.

Answer:
An economic entity with 2 or more owners.



Question:
Corporation.

Answer:
An economic entity with many owners, limited by shares.



Question:
Limited Liability Company (LLC).

Answer:
Like a partnership but offers more protection.



Question:
Cost Principle.

Answer:
Acquired assets and services should be recorded at their actual cost.