LSUS MBA 700 Week 1 Exam Questions and Answers 100% Pass

LSUS MBA 700 Week 1 Exam Questions
and Answers 100% Pass


Which of the following does not represent an asset of a company?

Select one or more:

a. Amounts owed to suppliers.

b. Supplies held by the company.

c. Amounts receivable from customers.

d. Equipment owned and used for operations. -

CORRECT ANSWER: a. Amounts owed to suppliers.




QUESTION: You can find the following information in the statement

of stockholder's equity:

Select one:

a. Bonds payable

,b. Net income

c. Accounts payable

d. Total asset -

CORRECT ANSWER: b. Net income




QUESTION: Independent, private-sector group that is primarily

responsible for setting financial reporting rules in -

CORRECT ANSWER: Financial

Accounting

Standards

Board

(FASB)




QUESTION: Ensure that auditors follow strict guidelines when

conducting their audits. -

CORRECT ANSWER: Public

, Company

Accounting

Oversight

Board




QUESTION: Develop a single set of high-quality, understandable global

accounting standards. -

CORRECT ANSWER: International

Accounting

Standards

Committee

(IASB)




QUESTION: Enforce proper application of financial reporting rules for

companies whose securities are publicly t -

CORRECT ANSWER: Securities