acct 331 midterm

acct 331 midterm - 1 out of 1 points Question 1 Which of...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1 1 out of 1 points Which of the following IS a characteristic of financial accounting? Answer Selected Answer: must follow GAAP Correct Answer: must follow GAAP Question 2 1 out of 1 points The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT: Answer Selected Answer: A CFO must be a CPA or CMA. Correct Answer: A CFO must be a CPA or CMA. Question 3 1 out of 1 points
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Dorra Corporation manufactures lawnmowers in five work stations. Dorra's weekly demand is 5,000 mowers but Dorra can only produce 4,200. According to the theory of constraints, to increase production output Dorra would benefit the most by concentrating improvement efforts on the: Answer Selected Answer: slowest work station. Correct Answer: slowest work station. Question 4 1 out of 1 points The Institute of Management Accountants' Statement of Ethical Professional Practice states that when faced with significant ethical issues, management accountants should first: Answer Selected Answer: follow the established policies of the organization bearing on the resolution of such conflict. Correct Answer: follow the established policies of the organization bearing on the resolution of such conflict. Question 5 0 out of 1 points
Background image of page 2
Answer Selected Answer: neither a line nor a staff position, since the accounting department must be independent. Correct Answer: a staff position. Question 6 1 out of 1 points Decentralization refers to: Answer Selected Answer: the delegation of decision-making authority throughout an organization. Correct Answer: the delegation of decision-making authority throughout an organization. Question 7
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 11

acct 331 midterm - 1 out of 1 points Question 1 Which of...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online