Stichworte accrual accounting

Stichworte: accrual accounting

What branch of accounting renders evaluation of the performance of a sales department?

What branch of accounting renders evaluation of the performance of a sales department?

Branch of the business complies with the collection and deposit policy of the company.

Branch of the business complies with the collection and deposit policy of the company.

Which rule in the AICPA Code of Professional Conduct concerns contingent fees?

Which rule in the AICPA Code of Professional Conduct concerns contingent fees?

Which of the following is not an advantage of having a conceptual framework of accounting

Which of the following is not an advantage of having a conceptual framework of accounting

Which of the following is a reason cash flows may differ from accounting income

Which of the following is a reason cash flows may differ from accounting income

Which of the following would not be considered an external user of accounting data for a company *?

Which of the following would not be considered an external user of accounting data for a company *?

The accounting break-even level of revenues represents the point at which the project has:

The accounting break-even level of revenues represents the point at which the project has:

Which of the following accounting concept principle states that revenue is recognized only when it is earned?

Which of the following accounting concept principle states that revenue is recognized only when it is earned?

What type of entries update the general ledger accounts at the end of a period?

What type of entries update the general ledger accounts at the end of a period?

Which parts of the accounting equation do a service rendered on account affect?

Which parts of the accounting equation do a service rendered on account affect?

What is the difference between managerial accounting and management accounting?

What is the difference between managerial accounting and management accounting?

Managerial accounting is used in each of the following types of businesses except

Managerial accounting is used in each of the following types of businesses except

Traditional cost accounting systems assign overhead cost to outputs based on a ______.

Traditional cost accounting systems assign overhead cost to outputs based on a ______.

Internal service funds account for operating expenses on the accrual basis of accounting

Internal service funds account for operating expenses on the accrual basis of accounting

Under current accounting principles, how is net income on the income statement measured?

Under current accounting principles, how is net income on the income statement measured?

Which method of recording uncollectible accounts expense is consistent with accrual accounting

Which method of recording uncollectible accounts expense is consistent with accrual accounting

This is an income already earned but not yet collected in other words receivable

This is an income already earned but not yet collected in other words receivable

Which of the following are characteristics of managerial accounting information?

Which of the following are characteristics of managerial accounting information?

Which of the following would be considered as internal users of accounting data for a company?

Which of the following would be considered as internal users of accounting data for a company?

Which of the following is the most accurate depiction of the accounting equation?

Which of the following is the most accurate depiction of the accounting equation?

Which of the following is the measurement focus and basis of accounting for the fiduciary fund financial statements?

Which of the following is the measurement focus and basis of accounting for the fiduciary fund financial statements?

Which of the following Statements of financial Accounting Concepts defines the 10 elements

Which of the following Statements of financial Accounting Concepts defines the 10 elements

What is an example of permanent differences between accounting income and taxable income that could result in deferred income taxes?

What is an example of permanent differences between accounting income and taxable income that could result in deferred income taxes?

Which of the following is an advantage of using job order cost accounting system?

Which of the following is an advantage of using job order cost accounting system?

Which of the following method uses separate servers authentication, authorization, and accounting?

Which of the following method uses separate servers authentication, authorization, and accounting?

Which costs are included in the numerator of the accounting profit break-even point equation?

Which costs are included in the numerator of the accounting profit break-even point equation?

Which of the following are examples of the classification of expenses by their nature?

Which of the following are examples of the classification of expenses by their nature?

Which of the following is not true concerning conceptual framework in accounting *?

Which of the following is not true concerning conceptual framework in accounting *?

What is one of our considerations when testing data used in an accounting estimate?

What is one of our considerations when testing data used in an accounting estimate?

International Financial Reporting Standards preceded International Accounting Standards

International Financial Reporting Standards preceded International Accounting Standards

What is the relationship between the cost management system and financial accounting system?

What is the relationship between the cost management system and financial accounting system?

Which of the following is an element of a system of quality control that should be considered by a public accounting firm?

Which of the following is an element of a system of quality control that should be considered by a public accounting firm?

What effect does the purchase of office equipment on credit have on the accounting equation quizlet?

What effect does the purchase of office equipment on credit have on the accounting equation quizlet?

Managerial accounting differs from financial accounting in that managerial accounting

Managerial accounting differs from financial accounting in that managerial accounting

The information and analysis that comes from managerial accounting is used to ______.

The information and analysis that comes from managerial accounting is used to ______.

What is the complete sequence of accounting procedures for a fiscal period frequently called?

What is the complete sequence of accounting procedures for a fiscal period frequently called?

The act by a member of the AICPA that is discreditable to the accounting profession is

The act by a member of the AICPA that is discreditable to the accounting profession is

What entity requires that members prepare financial statements in accordance with GAAP?

What entity requires that members prepare financial statements in accordance with GAAP?

Which of the following are internal reports that accounting provides to internal users?

Which of the following are internal reports that accounting provides to internal users?

Which of the following is not an advantage of strategic-based responsibility accounting?

Which of the following is not an advantage of strategic-based responsibility accounting?

Which forms of business organization are considered to be separate accounting entities?

Which forms of business organization are considered to be separate accounting entities?

Which of the following terms refers to a self contained business within a company with its own functional departments and accounting systems?

Which of the following terms refers to a self contained business within a company with its own functional departments and accounting systems?

Which accounting method variable or absorption would have produced the higher net income?

Which accounting method variable or absorption would have produced the higher net income?

Which responsibility center is responsible for revenue expenses and capital investment decision?

Which responsibility center is responsible for revenue expenses and capital investment decision?

Is a segment of an organization where the manager controls revenues costs and investments?

Is a segment of an organization where the manager controls revenues costs and investments?

What is the branch of accounting that focuses on direct material direct labor and overhead?

What is the branch of accounting that focuses on direct material direct labor and overhead?

What is the branch of accounting that involves the basic accounting processes of recording classifying and summarizing transactions?

What is the branch of accounting that involves the basic accounting processes of recording classifying and summarizing transactions?

Which branch of accounting is concerned with analyzing costs of products or services rendered in a business?

Which branch of accounting is concerned with analyzing costs of products or services rendered in a business?

What branch of accounting helps business managers in planning and controlling business operations and in decision

What branch of accounting helps business managers in planning and controlling business operations and in decision

A company received cash and issued common stock What was the effect on the accounting equation

A company received cash and issued common stock What was the effect on the accounting equation

Which principle guideline allows a company to violate an accounting principle because the amounts are insignificant?

Which principle guideline allows a company to violate an accounting principle because the amounts are insignificant?

Which concept states that financial statements of an organization are based on solid evidence?

Which concept states that financial statements of an organization are based on solid evidence?

Which of the principles matched expenses with associated revenues in the period in which the revenues were generated?

Which of the principles matched expenses with associated revenues in the period in which the revenues were generated?

Which refers to an accounting principle that states revenue and expense are recorded at the time they are incurred and not when they are received or paid?

Which refers to an accounting principle that states revenue and expense are recorded at the time they are incurred and not when they are received or paid?

Which accounting assumption states that the life of the company can be divided into months quarters and years?

Which accounting assumption states that the life of the company can be divided into months quarters and years?

Which accounting concept states that an accounting transactions should be supported by sufficient evidence to allow individuals to arrive at a similar conclusion?

Which accounting concept states that an accounting transactions should be supported by sufficient evidence to allow individuals to arrive at a similar conclusion?

Which of the following states that a transaction is not recorded in the books of accounts unless it is measurable?

Which of the following states that a transaction is not recorded in the books of accounts unless it is measurable?

Which branch of accounting means examination of financial statements by a CPA for the purpose of?

Which branch of accounting means examination of financial statements by a CPA for the purpose of?

Accounting would be an example of which of the following costs typically found in a project?

Accounting would be an example of which of the following costs typically found in a project?

Which of the following statements about management accounting and financial accounting is true?

Which of the following statements about management accounting and financial accounting is true?

Why cost accounting information does caters mostly the needs of internal users rather than external users?

Why cost accounting information does caters mostly the needs of internal users rather than external users?

When using performance evaluation periodic internal reports based on a responsibility accounting system should not?

When using performance evaluation periodic internal reports based on a responsibility accounting system should not?

When performing procedures to identify and assess the risks of material misstatement for accounting estimates the auditor should?

When performing procedures to identify and assess the risks of material misstatement for accounting estimates the auditor should?

Is it true that managerial accounting internal reports are prepared more frequently than are classified financial statements?

Is it true that managerial accounting internal reports are prepared more frequently than are classified financial statements?

Is managerial accounting internal reports are prepared more frequently than are classified financial statements?

Is managerial accounting internal reports are prepared more frequently than are classified financial statements?

When a profit-maximizing firm in a competitive market has zero economic profit, accounting profit

When a profit-maximizing firm in a competitive market has zero economic profit, accounting profit

What section of a statement of cash flows indicates the cash used to pay dividends during the past accounting period?

What section of a statement of cash flows indicates the cash used to pay dividends during the past accounting period?

Which of the following declaration about differences between financial and managerial accounting is correct?

Which of the following declaration about differences between financial and managerial accounting is correct?

Which of the following statements about difference between financial and managerial accounting is incorrect?

Which of the following statements about difference between financial and managerial accounting is incorrect?

The cost of accounting software for a small business can be several hundred thousand dollars.

The cost of accounting software for a small business can be several hundred thousand dollars.

When a company contracts with another sometimes in another country to do some of its functions such as production or accounting it is known as?

When a company contracts with another sometimes in another country to do some of its functions such as production or accounting it is known as?

Refers to the property of erp systems to handle the accounting standards of multiple countries.

Refers to the property of erp systems to handle the accounting standards of multiple countries.

The certificate of public accounting does not include the right to serve as external auditors.

The certificate of public accounting does not include the right to serve as external auditors.

Are responsible for the efficiency and effectiveness of an area, such as accounting or marketing.

Are responsible for the efficiency and effectiveness of an area, such as accounting or marketing.

What should the HR manager do to get buy in from the accounting firms leadership team to implement employee retention initiatives?

What should the HR manager do to get buy in from the accounting firms leadership team to implement employee retention initiatives?

Which one of the following is not a problem of using financial accounting data for decision making in a business?

Which one of the following is not a problem of using financial accounting data for decision making in a business?

Which accounting principle requires that information in financial statements should not mislead the companys investors?

Which accounting principle requires that information in financial statements should not mislead the companys investors?

Which of the following does not represent a major accounting transaction type processed in the purchasing cycle?

Which of the following does not represent a major accounting transaction type processed in the purchasing cycle?

Who is responsible for the freight cost when the terms are FOB Destination A either the buyer or the seller be the seller C the buyer d the customer?

Who is responsible for the freight cost when the terms are FOB Destination A either the buyer or the seller be the seller C the buyer d the customer?

What are the effects on the accounting equation from the adjustment for income tax expense accrued but not paid at the end of the accounting period?

What are the effects on the accounting equation from the adjustment for income tax expense accrued but not paid at the end of the accounting period?

All of the following are risk assessment procedures for the audit of accounting estimates except:

All of the following are risk assessment procedures for the audit of accounting estimates except:

What are the inherent factors that ISA 540 Revised require auditor to take into account when identifying risks of material misstatements and assessing inherent risk?

What are the inherent factors that ISA 540 Revised require auditor to take into account when identifying risks of material misstatements and assessing inherent risk?

Which step of the accounting cycle involves checking to see if total debits equal total credits

Which step of the accounting cycle involves checking to see if total debits equal total credits

Which of the following fundamental principles of an effective accounting information system that requires the system to adapt to the unique characteristic of the firm?

Which of the following fundamental principles of an effective accounting information system that requires the system to adapt to the unique characteristic of the firm?

Which of the following organizations is responsible for the creation and governance of accounting standards?

Which of the following organizations is responsible for the creation and governance of accounting standards?

Which organization sets the principles of financial accounting and reporting in the private sector in the United States?

Which organization sets the principles of financial accounting and reporting in the private sector in the United States?

Which organization sets the principles of financial accounting and reporting in the private sector in the United States quizlet?

Which organization sets the principles of financial accounting and reporting in the private sector in the United States quizlet?

When accounting principles are not consistently applied, and the materiality level is immaterial

When accounting principles are not consistently applied, and the materiality level is immaterial

How are revenues and expenses reported on the income statement under the cash basis of accounting

How are revenues and expenses reported on the income statement under the cash basis of accounting

Adjusting entries are needed to ensure that revenue is recorded when and expenses are recorded when

Adjusting entries are needed to ensure that revenue is recorded when and expenses are recorded when

Adam corporation uses the cash-basis of accounting. adam corporation should record expenses when:

Adam corporation uses the cash-basis of accounting. adam corporation should record expenses when:

Which of the following transactions constitute an accrual adjustment involving an expense account

Which of the following transactions constitute an accrual adjustment involving an expense account

Which financial statement reports the amount of supplies on hand at the end of the accounting period multiple choice question?

Which financial statement reports the amount of supplies on hand at the end of the accounting period multiple choice question?

How can enhancing qualitative characters are able to enhance usefulness of financial information?

How can enhancing qualitative characters are able to enhance usefulness of financial information?

An example of an inventory accounting policy that should be disclosed in a Summary of Significant

An example of an inventory accounting policy that should be disclosed in a Summary of Significant

The accounting profession requires disaggregated information in all of the following ways except:

The accounting profession requires disaggregated information in all of the following ways except:

When financial statements of a nonpublic company are affected by a material departure from generally accepted accounting principles the auditors should?

When financial statements of a nonpublic company are affected by a material departure from generally accepted accounting principles the auditors should?

Which accounting principle concept allows accountants to ignore other accounting principle concept if the amount in question is immaterial?

Which accounting principle concept allows accountants to ignore other accounting principle concept if the amount in question is immaterial?

Which qualitative characteristic is reflected when it is said that accounting information should be verifiable ?

Which qualitative characteristic is reflected when it is said that accounting information should be verifiable ?

Which qualitative characteristics of accounting information is reflected when user of information is able to depend on the information?

Which qualitative characteristics of accounting information is reflected when user of information is able to depend on the information?