Accountant laws Study guides, Class notes & Summaries

There is really no reason to be acquainted with business laws and government regulations, except to pass their test. true or false - Answer- False Law consists of enforceable rules governing relationships among individuals and between individuals and their society. true or false - Answer- true Laws and government regulations affect almost all business activities. true or false - Answer- true Many different laws may apply to a dingle business transaction. true or false - Answer- true ...

WGU Fundamentals for Success in Business - D072 Questions and Answers 100% Pass In an effort to cut costs, an apparel factory is moving operations to another country where labor is cheap and employment laws are less stringent. Costs can only be kept low if the factory operates like a sweatshop. Which type of problem is this company facing? Legal-unethical The chief executive officer (CEO) of a company decides to change the way thecompany has been functioning over the years in order to improve ...

1. Which of the following statements best describes why the CPA profession has deemed it essential to promulgate a code of professional ethics and to establish a mechanism for enforcing observation of the Code? a. A distinguishing mark of profession is its acceptance of responsibility to the public. b. A pre-requisite to success is the establishment of an ethical code that primarily defines the professional's responsibility to clients and colleagues. c. A requirement of most state laws calls...

Wisconsin Property Insurance Questions and Answers Graded A+ How does the Commissioner of Insurance receives their position? A) Appointed by the Legislature. B) Appointed by the Attorney General. C) Appointed by the Governor. D) Elected every 4 years. C Insurance laws in Wisconsin are made by: A) The Commissioner of Insurance. B) National Association of Insurance Commissioners (NAIC). C) The Attorney General. D) The Legislature. D To clarify a person's rights and duties unde...

Gleim's CPA Test Prep Auditing [1] Which of the following is required documentation in an audit in accordance with generally accepted auditing standards? A. A flowchart or narrative of the accounting system describing the recording and classification of transactions for financial reporting. B. An audit program setting forth in detail the procedures necessary to accomplish the engagement's objectives. C. A planning memorandum establishing the timing of the audit procedures and coordinating the ...

An organization plans to close its local factory and shift manufacturing operations overseas. This brings opposition from employees. Which terms describes this organizational move? Legal-ethical Legal-unethical Illegal-Ethical Illegal-unethical - ANS Legal-ethical (When the law and personal or organizational ethics are in accordance with each other) Individual authors wrote books about the negative environmental impacts of some industries, including the coal industry. Which benefit did th...

ACCOUNTING 333 EXAM TEST WITH COMPLETE SOLUTIONS 2023/2024 what are acts discreditable to the profession - CORRECT ANSWER-according to the COD and various state accountancy laws, an accountant should not commit acts that are discreditable to the profession or demonstrate a lack of moral character the discreditable rule - CORRECT ANSWER-forbids accountants from committing acts that discredit the profession of accounting specific disreputable acts include: - CORRECT ANSWER-noncompliance...

Payroll Class Ch. 1 Questions and Answers 100% Pass **Question:** What is the role of the Internal Revenue Service (IRS)? **Answer:** The Internal Revenue Service (IRS) is the branch of the U.S. Treasury Department responsible for collecting taxes and enforcing tax laws. **Question:** Define the Equal Pay Act of 1963. **Answer:** The Equal Pay Act of 1963 is federal legislation that mandates equal compensation for males and females performing comparable work. **Question:** ...

Xcel Solutions Final Exam (2024/ 2025) Questions and Verified Answers| 100% Correct| Grade A Q: Which type of plan normally includes hospice benefits Answer: Managed care plans Q: Non-occupational disability coverage is designed for Answer: Employees who suffer non work related disabilities, since work related disabilities are covered by workers compensation Q: A policy of adhesion can only be modified by whom Answer: The insurance company Q: G is an acc...

1. Which of the following statements best describes why the CPA profession has deemed it essential to promulgate a code of professional ethics and to establish a mechanism for enforcing observation of the Code? a. A distinguishing mark of profession is its acceptance of responsibility to the public. b. A pre-requisite to success is the establishment of an ethical code that primarily defines the professional's responsibility to clients and colleagues. c. A requirement of most state laws...