Accountan Guías de estudio, Notas de estudios & Resúmenes

Business Law for Accountants - D216 Western Governors University WGU Final guide with complete soluti Scienter Answer - A person has knowledge of wrongdoing and intent of wrongdoing Sox act of 2002 Answer - created the public company accounting oversight board, It states high level managers (CFO, CEO, Senior roles) must maintain an effective system of internal controls. Internal controls get checked by senior management annually Outside Directors Answer - oversee the accounting process...

What major categories appear on a balance sheet? Correct Answer-Assets, Liabilities and Equity What is the difference between a balance sheet in the account form vs the report form? Correct Answer-The account form lists assets on the left with equities on the right whereas the report form lists assets at the top and equity on the bottom. What are the differences of balance sheet in the financial position form vs. account or report forms? Correct Answer-It shows net working capital (by back...

WGU Business Law for Accountants - D216 Exam Questions with 100% Verified Answers.WGU Business Law for Accountants - D216 Exam Questions with 100% Verified Answers.

TC=(VCs xQs) + FCs Correct Answer-Master Budget uses standard quantity TC=(VCs x Qa) + FCs Correct Answer-Flexible Budget uses actual quantity ROA Correct Answer-ROA =Profit Margin x Asset Turnover Income/Assets = Income/Sales x Sales/Total Assets ROA numerator issues Correct Answer-There are two major issues for measurement of income in the numerator: (a) income taxes, and (b) GAAP. ROA Denominator issues Correct Answer-Denominator Issues It is in this figure that there are a wi...

WGU Business Law for Accountants - D216 | With complete solution | 2024/25

A hardware store proactively informs clients whenever recalls happen. It is always willing to replace defective items at no cost even if the warranty has expired. Its philosophy is to maximize benefits and minimize harm. This approach is known as outcome-based ethics. What is a characteristic of outcomebased ethics? It focuses on the obligations of the corporation. It focuses on standards for behavior that traditionally were derived from religious authorities. It focuses on basic rights. I...

Certified Public Accountant (CPA) Verified Package Deal With Latest Quiz 2023 For which clients must a CPA be independent? - Independence is required for only those who perform attest services. CPAs in the private sector cannot e independent. Why is independence so important for a CPA? - If a CPA is not independent there is a higher likelihood for bias in the audit whether intentional or not. Also, if a CPA appears not to be independent, the public will lose confidence in the CPA and...

WGU Business Law for Accountants - D216 Exam Questions with 100% Verified Answers.WGU Business Law for Accountants - D216 Exam Questions with 100% Verified Answers.

True / False 1. Unlike most agents, each partner in a partnership has an ownership interest in the business. a. True b. False ANSWER: True 2. A partnership is a voluntary association of individuals. a. True b. False ANSWER: True 3. Most states treat a partnership as an aggregate for most purposes. a. True b. False ANSWER: False 4. A majority of the states treat a partnership as an entity for most purposes. a. True b. False ANSWER: Tru...