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Financial Control of the Organization.d

Financial Control of the Organization.d — вариант 1

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12 вопросов Вариант 1 Доступ 7 дней
Содержание теста

Вопросы и варианты

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Вопрос 1

The two types of accounting are:

  1. profit and nonprofit.
  2. financial and managerial.
  3. internal and external.
  4. bookkeeping and decision-oriented.
Вопрос 2

What type of accounting provides information for decision makers outside the entity?

  1. Bookkeeping
  2. Managerial accounting.
  3. Internal auditing.
  4. Financial accounting.
Вопрос 3

Who ultimately controls a corporation?

  1. Board of Directors
  2. The Chief Executive Officer (CEO)
  3. The shareholders
  4. The President
Вопрос 4

Financial statements are:

  1. standard documents issued by outside consultants who are hired to analyze key operations of the business in financial terms.
  2. the business documents that companies use to report the results of their financial activities to various user groups.
  3. reports created by management that states it is responsible for the acts of the corporation.
  4. the mechanical part of accounting.
Вопрос 5

Characteristics of a sole proprietor include:

  1. multiple owners.
  2. limited personal liability for all business debts.
  3. a distinct entity, separate from its owner for accounting purposes.
  4. formation under state law.
Вопрос 6

A partnership:

  1. is a taxpaying entity.
  2. is not a distinct entity, separate from its owners for accounting purposes.
  3. has mutual agency.
  4. has limited liability for the partners.
Вопрос 7

A limited-liability partnership is made up of:

  1. partners.
  2. sole proprietors.
  3. members.
  4. shareholders.
Вопрос 8

Advantages of a corporation include:

  1. a single owner.
  2. the double taxation of distributed profits.
  3. limited liability of the shareholders.
  4. mutual agency.
Вопрос 9

All of the following are forms of business organizations EXCEPT for the:

  1. proprietorship.
  2. limited liability partnership.
  3. limited proprietorship.
  4. corporation.
Вопрос 10

An entity that is organized according to state legislation and in which ownership units are called shares is a:

  1. proprietorship.
  2. corporation.
  3. partnership.
  4. limited liability partnership.
Вопрос 11

The International Accounting Standards Board is responsible for establishing:

  1. the code of professional conduct for accountants.
  2. the International Accounting Standards.
  3. generally accepted accounting principles.
  4. the International Financial Reporting Standards.
Вопрос 12

The acronym GAAP stands for:

  1. generally acceptable authorized pronouncements.
  2. government authorized accountant principles.
  3. generally accepted accounting principles.
  4. government audited accounting pronouncements.