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Exam (elaborations)

FINANCIAL ACCOUNTING AND REPORTING (REVIEWER) QUESTIONS WITH CORRECT ANSWERS 2025

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FINANCIAL ACCOUNTING AND REPORTING (REVIEWER) QUESTIONS WITH CORRECT ANSWERS 2025

Institution
Accounting And Financial Reporting
Course
Accounting And Financial Reporting









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Written for

Institution
Accounting And Financial Reporting
Course
Accounting And Financial Reporting

Document information

Uploaded on
February 21, 2025
Number of pages
5
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • financial accounting and reporting reviewer ques

Content preview

FINANCIAL ACCOUNTING AND REPORTING
(REVIEWER) QUESTIONS WITH CORRECT
ANSWERS 2025
AuditingGorGExternalGAuditingG-GCORRECTGANSWERG-
isGaGprocessGofGexaminationGofGaccountingGandGfinancialGrecordsGthatGisGundertakenGindepently.



FinancialGAccountingG-GCORRECTGANSWERG-
isGaGprocessGofGgatheringGinformationGandGproducingGrecordsGonGanGorganization'sGfinancialGactivity



ManagementGAccountingG-GCORRECTGANSWERG-
isGprocessGofGmeasurement,Ganalysis,GidentifyingGandGinterpretingGtheGaccountingGinformationGthatGhelps
GtheGleadersGtoGmanageGtheGdailyGoperations.




GovernmentGAccountingG-GCORRECTGANSWERG-
isGtheGprocessGofGrecordingGandGmanagementGofGallGtransactionsGthatGincurredGbyGtheGgovernmentGwhich
GincludesGitsGincomeGandGexpenditures.




TaxGAccountingG-GCORRECTGANSWERG-
isGtheGsubsectorGofGaccountingGthatGdealsGwithGtheGpreparationsGofGtaxGreturnsGandGtaxGpayments.



FiduciaryGAccountingG-GCORRECTGANSWERG-
isGaGcomprehensiveGreportGofGtheGactivityGwithinGaGtrust,GestateGorGconservatorshipGduringGaGspecificGtim
eGperiod



CostGAccountingG-GCORRECTGANSWERG-
isGaGprocessGofGassigningGcostsGtoGcostGobjectsGthatGtypicallyGincludeGaGcompany'sGproducts,Gservices,Gand
GanyGotherGactivitiesGthatGinvolveGtheGcompany




AccountingGSystemG-GCORRECTGANSWERG-
aGsetGofGaccountingGprocessesGwithGintegratedGproceduresGandGcontrols-
isGtoGrecordGbusinessGtransactions,GsummarizeGthoseGtransactionsGintoGanGaggregatedGform,GandGcreateGr
eportsGthatGcanGbeGusedGbyGdecisionGmakersGtoGmonitor,Ganalyse,GandGimproveGoperations

, SocialGAccountingG-GCORRECTGANSWERG-
isGtheGprocessGofGcommunicatingGtheGsocialGandGenvironmentalGeffectsGofGorganizations.



AccountingGProfessionG-GCORRECTGANSWERG-
isGaGprofessionalGwhoGperformsGaccountingGfunctionsGsuchGasGaccountGanalysis,Gauditing,GorGfinancialGstat
ementGanalysis



PublicGAccountingG-GCORRECTGANSWERG-
RenderingGofGindependentGandGexpertGfinancialGservicesGtoGtheGpublicGonGaGfeeGbasisG(professionalGfees).G
(mustGbeGaGCPA)G(alamGkoGCPAGfirmG'to



PrivateGAccountingG-GCORRECTGANSWERG-
EmploymentGinGbusinessGentitiesGinGvariousGcapacityGasGaccountingGstaff,GchiefGaccountant,GcostGaccounta
ntGandGinternalGauditor,GcontrollerGonGaGsalaryGbasis.G(MayGorGmayGnotGbeGaGCPA).GAlsoGknownGasGInternal
GAuditing




Education/AcademeG-GCORRECTGANSWERG-
EmploymentGinGeducationalGinstitutionsGinvolvedGinGteachingGAccounting,GMAS,GFinance,GBusinessGLawGa
ndGTax.G(MustGbeGaGCPAGifGteachingGonGBSAGorGaccountingGmajor)



AccountingG-GCORRECTGANSWERG-inGaGbroadGsenseGAuditingGisGjustGaGpartGofGAccounting.



AuditingG-GCORRECTGANSWERG-InGaGlimitedGsenseGAuditingGstartsGonlyGwhenGAccountingGceases.



AccountancyG-GCORRECTGANSWERG-itGisGaGprofesssionGofGtheGpeopleGwhoGtakeGaGcpaGboardGexam



AssetsG-GCORRECTGANSWERG-mayGbeGcash,Gfurniture,Gbuildings,GandGsupplies



LiabilitiesG-GCORRECTGANSWERG-debtsGandGliabilities



Equity/GCapital/GShareholdersGEquityG-GCORRECTGANSWERG-excessGassets
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