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ACCT 410 INTERMEDIATE ACCOUNTING I ACTUAL SCRIPT Questions with Correct Answers (Grade A+) Question 1: Regarding internal control in a technological environment, which group protects the technical components from damage? Answer: Program and file library. Question 2: Which of the following general control activities is concerned with message acknowledgment techniques and private lines? Answer: Accessing programs and data. Question 3: Which component of internal controls assesses the contr...

ACCT 370 EXAM COMPREHENSIVE STUDY GUIDE Questions with Correct Answers (Grade A+) Question 1: the difference between the total fair value of an acquired business and the fair value of its identifiable net assets is. Answer: goodwill Question 2: treasury stock is reported within the balance sheet as. Answer: a contra equity account Question 3: balance sheets under US GAAP are required to report assets:. Answer: in order of liquidity Question 4: the dominant method under GAAP for measurin...

ACCT 370 EXAM Questions with Correct Answers (Grade A+) Question 1: Which of the following is not defined as qualitative disclosure information under ASC 842? A. lease covenants and restrictions B. assumptions and judgements C. maturity information D. renewal and purchase options. Answer: C. maturity information Question 2: Which of the following is a correct statement about preparing a balance sheet? A. All current liabilities must be due within the current calendar year. B. Bonds paya...

ACCT 370 EXAM MOCK EXAM Questions with Correct Answers (Grade A+) Question 1: 2. Method pays for goods without a receipt of an invoice Answer: o Evaluated receipt settlement Question 2: 3. Accounting officer responsible for cash management Answer: o Treasurer Question 3: 5. Control goal that ensures invoices are paid when due Answer: operating effectiveness Question 4: 6. Control goal that invoice is entered once and only once Answer: o Input completeness Question 5: 7. Control goal th...

ACCT 370 EXAM CORE ACCOUNTING PRINCIPLES REVIEW Questions with Correct Answers (Grade A+) Question 1: Temporary differences that will cause taxable income in future periods to be lower than pre-tax book income give rise to. Answer: deferred tax assets Question 2: the rationale behind the multiple-step income statement is to subdivide the income in a manner that facilitates. Answer: forecasting Question 3: What is one reason lease accounting rules were revised. Answer: Operating leases w...

ACCT 200 201B ACTUAL EXAM PAPER Questions with Correct Answers (Grade A+) Question 1: What does GAAP do? Answer: are accounting rules used to prepare and standardize the reporting of financial statements, such as balance sheets, income statements and cashflow statement, for publicly traded companies and many private companies in the United States. Question 2: IFRS. Answer: International Financial Reporting Standards Question 3: What does IFRS do? Answer: International accounting standar...

ACCT 200 201B PRACTICE EXAM Questions with Correct Answers (Grade A+) Question 1: What T account is used to record expected losses from sales on account? Answer: Bad Debt Expense Question 2: T or F, Direct Write Off method is allowed by GAAP. Answer: False Question 3: T or F, Bad Debt Expense is estimated at the end of each period? Answer: True Question 4: Allowance for Doubtful Accounts is a contra account for what asset account? Answer: Accounts Receivable Question 5: Cash (net) Real...

ACCT 200 201B FINAL EXAM Questions with Correct Answers (Grade A+) Question 1: Who are internal users of accounting information? Answer: Managers and employees. Question 2: Who are external users of accounting information? Answer: Investors, creditors, regulators, and government. Question 3: Main objective of financial accounting? Answer: Provide useful financial information about performance, financial position, and cash flows. Question 4: What is the business entity concept? Answer: T...

ACCT 200 201B EXAM SCRIPT TEST PAPER Questions with Correct Answers (Grade A+) Question 1: Accounting period. Answer: The period of Time covered by the income statement Question 2: Interim reports. Answer: Financial prepared by month, quarter or some other portion of the fiscal year Question 3: Journal. Answer: Listing of business transactions in chronological order Question 4: Journal entry. Answer: Transaction that is recorded once analyzed Question 5: Journalizing. Answer: Recordin...

ACCT 200 201B COMPREHENSIVE EXAM Questions with Correct Answers (Grade A+) Question 1: Accounts receivable Answer: Amounts customers owe on account. Question 2: Written promise (as evidenced by a formal instrument) for amounts to be received Answer: Notes receivable Question 3: Trade receivables Answer: Notes and accounts receivable that result from sales transactions. Question 4: Other receivables Answer: Nontrade receivables that generally do not result from the operations of the busi...

ACCREDITED RESIDENTIAL MANAGER ARM IREM EXAM Questions with Correct Answers (Grade A+) Question 1: Job Analysis. CORRECT Answer: Is the process of identifying essential Skills, Knowledge, and Abilities required to perform a job; Forms the basis of all subsequent human resources activity. Question 2: Behavioral. CORRECT Answer: A type of question asked by an interviewer to determine a persons disposition based on previous behavior in particular situations. Question 3: Orientation. CORRECT...

ACCREDITED RESIDENTIAL MANAGER - ARM CERTIFICATION FINAL TEST Questions with Correct Answers (Grade A+) Question 1: What is the best way to avoid a dispute with a contractor who will be performing work? Answer: Verify acceptable materials and permits prior to start Question 2: A separate business entity hires to perform specific services or work and requires a contract. Answer: Contractor Question 3: Who ultimately responsible for the performance of service technicians? Answer: The CAM ...

ACCREDITED RESIDENTIAL MANAGER - ARM CERTIFICATION COMPREHENSIVE STUDY GUIDE Questions with Correct Answers (Grade A+) Question 1: What are the three keys to good customer service? Answer: • Communication• Attitude• Relationships Question 2: What is the cost of turnover when a resident leaves a community? Answer: • The cost of turnover is generally more then 1-2 months rent permove out. Question 3: What are the 5 techniques to building rapport? Answer: • Express a genuine inter...

ACCREDITED RESIDENTIAL MANAGER - ARM CERTIFICATION ACTUAL EXAM PAPER Questions with Correct Answers (Grade A+) Question 1: Certified Apartment Property Supervisor (CAPS). Answer: A professional designation offered by the National Apartment Association. Question 2: E-Marketing. Answer: using tools on the Internet such as bulletin boards, Web sites, social media, Internet Listing Services and e-mail. Question 3: What is the purpose of measuring performance? Answer: Shows if goals are met ...

ACCREDITED RESIDENTIAL MANAGER ARM CERTIFICATION FINAL PAPER TEST Questions with Correct Answers (Grade A+) Question 1: Text Mining. Answer: Obtaining info through language recognition. Question 2: Big Data. Answer: Sets of data that are too large to be gathered & analyzed by traditional methods. Question 3: Key Risk Indicator (KRI). Answer: A tool used by an organization to measure the uncertainty of meeting a strategic business objective. Question 4: Cost of Risk. Answer: The total ...

ACCREDITED RESIDENTIAL MANAGER ARM CERTIFICATION EXAMS SET Questions with Correct Answers (Grade A+) Question 1: What is the cost of turnover when a resident leaves a community? Answer: • The cost of turnover is generally more then 1-2 months rent per move out. Question 2: What are the 5 techniques to building rapport? Answer: • Express a genuine interest in the other person. Question 3: What are the 10 techniques for dealing with people from different cultures? Answer: • Know it...

ACCREDITED RESIDENTIAL MANAGER ARM CERTIFICATION EXAMINATION TEST Questions with Correct Answers (Grade A+) Question 1: Certified Property Manager. Answer: Professional certification given by the Institute of Real Estate Management (IREM). Question 2: Accredited Resident Manager (ARM). Answer: A professional designation for resident property managers awarded by the Institute of Real Estate Management. Question 3: Accredited Management Organization (AMO). Answer: A professional designati...

ACCREDITED RESIDENTIAL MANAGER ARM CERTIFICATION EXAM SCRIPT Questions with Correct Answers (Grade A+) Question 1: in order to maximize rental revenues. Answer: it is necessary to set competitive rents Question 2: gross potential rent (GPR). Answer: is a total of all current market rents for each unit and can also be used as a rent roll. take the total number of units, multiply by the market rent rate of each unit and multiply by 12 for annual gross revenue projection. Question 3: gross...

Accredited Residential Manager Arm Certification Actual Exam Paper Questions With Correct Answers (Grade A+)

ACCREDITED RESIDENTIAL MANAGER - ARM CERTIFICATION SCRIPT Questions with Correct Answers (Grade A+) Question 1: market price. Answer: actual price paid for a property in a transaction Question 2: bundle of rights. Answer: 1. set of legal rights associated with property ownership 2. including the right to use 3. sell 4. lease 5. exclude others 6. and transfer the property. Question 3: holdover. Answer: a resident who remains after the lease has expired and does not renew for an addi...