ACC 497 Final Exam
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ACC 497 Final Exam
Section 1: Business Structure 

1) The uniform law, issued in 1984 by the Committee on Corporate Laws of the American Bar Association, that regulates the formation, operation, and termination of corporations is 
A. The Model Business Corporation Act
B. The Uniform Commercial Code 
C.The Revised Model Business Commercial Code
D. The Standard Incorporation Act 


2) Which of the following statements is true? 
A. The exchange of stock for services rendered is not a taxable tr...
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ACC 497 Final Exam
Section 1: Business Structure 

1) The uniform law, issued in 1984 by the Committee on Corporate Laws of the American Bar Association, that regulates the formation, operation, and termination of corporations is 
A. The Model Business Corporation Act
B. The Uniform Commercial Code 
C.The Revised Model Business Commercial Code
D. The Standard Incorporation Act 


2) Which of the following statements is true? 
A. The exchange of stock for services rendered is not a taxable tr...
ACC 497 Final Exam
1
Expenditures should be budgeted by character. An example of a character classification is
•	 
 
current expenditures.
•	 
 
salaries
•	 
 
public safety.
•	 
 
police department.
2
A report on internal control effectiveness by management of public companies is required by which of the following:
•	 
 
The Sarbanes-Oxley Act of 2002
•	 
 
The PCAOB
•	 
 
The AICPA
•	 
 
Only auditors are required to report on internal control effectiveness
3
For a not-for-prof...
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ACC 497 Final Exam•ACC 497 Final Exam
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ACC 497 Final Exam (Latest Versions)(2017and 2018) (Already graded A+)• Por QUIZBANK
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ACC 497 Final Exam
1
Expenditures should be budgeted by character. An example of a character classification is
•	 
 
current expenditures.
•	 
 
salaries
•	 
 
public safety.
•	 
 
police department.
2
A report on internal control effectiveness by management of public companies is required by which of the following:
•	 
 
The Sarbanes-Oxley Act of 2002
•	 
 
The PCAOB
•	 
 
The AICPA
•	 
 
Only auditors are required to report on internal control effectiveness
3
For a not-for-prof...
1. The uniform law, issued in 1984 by the Committee on Corporate Laws of the American Bar Association, that regulates the formation, operation, and termination of corporations is
The Model Business Corporation Act
The Uniform Commercial Code
The Revised Model Business Commercial Code
The Standard Incorporation Act
2. Which of the following statements is true?
The exchange of stock for services rendered is not a taxable transaction.
The repeal of Sec. 351 would result in more existing businesses ...
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ACC 497 Final Exam•ACC 497 Final Exam
Vista previa 1 fuera de 22 páginas
1. The uniform law, issued in 1984 by the Committee on Corporate Laws of the American Bar Association, that regulates the formation, operation, and termination of corporations is
The Model Business Corporation Act
The Uniform Commercial Code
The Revised Model Business Commercial Code
The Standard Incorporation Act
2. Which of the following statements is true?
The exchange of stock for services rendered is not a taxable transaction.
The repeal of Sec. 351 would result in more existing businesses ...