MBA 6030 EXAM QUESTIONS AND ANSWERS
100% CORRECT
GAAP - ANSWER Generally Accepted Accounting Principals
Return On Assets (ROA) - ANSWER [net income + Interest expense X(1-(Tax Rate)]
--------------------------------------------------
Total Assets
Sarbanes-Oxley Act - ANSWER Passed 2002 -
CEO & CFO must certify in writing that the information contained in the company's publicly
disseminated financial statements presents in all material respects, the company's financial
condition and result operations
Financial Accounting - ANSWER Concerns the preparation and use of the accounting information
provided in a company's financial statements.
Users of Financial Information - ANSWER Bankers, Suppliers, competitors, taxing authorities,
labor unions, and the board of directors
Managerial Accounting - ANSWER Focuses on the production of accounting information internal
to a firm for deciding such operating questions as how much inventory to produce, what price to
charge customers, and for measuring and rewarding the performance of a firms employees.
Tax Accounting - ANSWER refers to the system of measurement used by tax authorities to
determine the amount of taxes to levy on a company.
100% CORRECT
GAAP - ANSWER Generally Accepted Accounting Principals
Return On Assets (ROA) - ANSWER [net income + Interest expense X(1-(Tax Rate)]
--------------------------------------------------
Total Assets
Sarbanes-Oxley Act - ANSWER Passed 2002 -
CEO & CFO must certify in writing that the information contained in the company's publicly
disseminated financial statements presents in all material respects, the company's financial
condition and result operations
Financial Accounting - ANSWER Concerns the preparation and use of the accounting information
provided in a company's financial statements.
Users of Financial Information - ANSWER Bankers, Suppliers, competitors, taxing authorities,
labor unions, and the board of directors
Managerial Accounting - ANSWER Focuses on the production of accounting information internal
to a firm for deciding such operating questions as how much inventory to produce, what price to
charge customers, and for measuring and rewarding the performance of a firms employees.
Tax Accounting - ANSWER refers to the system of measurement used by tax authorities to
determine the amount of taxes to levy on a company.
