Review Questions Exam 1 Spring 2015 W-Sol - REVIEW...

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REVIEW QUESTIONSACG 3301SPRING 2015Chapter 11-100) Which of the following roles require publicly-traded companies to have an internal audit function?A) The New York Stock Exchange (NYSE)B) The Internal Revenue Service (IRS)C) The stockholdersD) The Board of DirectorsAnswer:ADiff: 2
LO:1-3EOC:S1-5AACSB:Reflective thinkingLearning Outcome:Define and use cost-volume-profit analysis to analyze the effects of changes.2-15) When management analyzes whether to move production to another country or to keep the productionlocated where it currently is, which of the following management responsibilities is being performed?CDiff: 3
LO:1-1EOC:S1-1AACSB:Reflective thinkingLearning Outcome:Define and use cost-volume-profit analysis to analyze the effects of changes.3-174) The SEC is considering the move to adopt IFRS for which types of companies?BDiff: 1
LO:1-5EOC:S1-11AACSB:Reflective thinkingLearning Outcome:Define and use cost-volume-profit analysis to analyze the effects of changes.
4-105) The individuals at Page Manufacturing perform the following duties:Employee C Roles and ResponsibilitiesEmployee D Roles and ResponsibilitiesManages organization on a daily basisResponsible for the operations at thecompanyHires other executives to run theorganizationIdentify Employee B and Employee C.ADiff: 3
LO:1-3EOC:S1-4; S1-5AACSB:Analytical thinkingLearning Outcome:Define and use cost-volume-profit analysis to analyze the effects of changes in costs andvolume on a company's profits.
5-90) Which of the following positions is primarily responsible for raising capital and investing funds?A) The treasurerB) The COOC) The CFOD) The CEOAnswer:A
Diff: 2LO:1-3EOC:S1-5AACSB:Reflective thinkingLearning Outcome:Define and use cost-volume-profit analysis to analyze the effects of changes.6-186) The Sarbanes-Oxley Act allows for a maximum of ________ years of imprisonment for knowinglydestroying or creating documents to obstruct any federal investigation.ADiff: 1
LO:1-5EOC:S1-11AACSB:Reflective thinkingLearning Outcome:Define and use cost-volume-profit analysis to analyze the effects of changes.

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Term
Fall
Professor
WHEATLEY
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