Practice Test 1 - Chapters 1-4 Key
A. The same as net income.
B. The excess of expenses over assets.
C. Resources owned or controlled by a company
D. The gross increase in equity from a company's earning activities.
E. The costs of assets
Practice Test 2 ACCG 210 CH 5,6,8
1. The credit terms 2/10, n/30 are interpreted as:
A. 2% cash discount if the amount is paid within 10 days, or the balance due in 30 days.
B. 10% cash discount if the amount is paid within 2 days, or the balan
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2 / 2 points
1A. A child working for his father's corporation is not exempt from coverage under FICA.
2A. Under FICA, each partner in a partnership is defined as
LANSING COMMUNITY COLLEGE MAIN ARTS A
PAYROLL SYSTEMS AND TAXES
01/09/2017 to 05/08/2017
Question 1 (2 points)
1A. The Fair Labor Standards Act sets the current minimum wage at $7.50 per hour.
Question 2 (2 points)
2A. The Federal Insurance Contributions Act covers restrictions on the employment of child labor.
Welcome to ACCG 290 - Auditing
Course Set Up:
Each week has a sub folder in the content area and includes an agenda file which
outlines what information is covered and what is due for that week. Within the weeks
sub folder are additional sub folders with
Exam III Outline
CH 10 Fixed Assets
What are plant assets? Identify
What Belongs in cost
Determine and understand BV, Depreciable Basis, Accumulated Depreciation, useful life
Calculate full-year D
Strategic planning is an organization procedure of characterizing its strategy, or heading,
and settling on choices on allotting its assets to seek after this strategy. It might likewise reach
out to control instrume
Final Exam Summer 2013 ACCG 292
Identify the choice that best completes the statement or answers the question.
1. One way that criminal law differs from civil law is that it:
a. provides remedies for violations of private rights.
Chapter 16Bankruptcy, Divorce, and Tax Fraud
1. All bankruptcy petitions are subject to:
a. Federal claims court jurisdiction
b. U.S. Tax court jurisdiction
c. Supreme court jurisdiction
d. U.S. district court jurisdiction
Chapter 10Inquiry Methods and Fraud Reports
1. Which of the following is a characteristic of a good interviewer?
a. One who interrupts respondents
b. One who is able to get others to open up and share information
c. One who interviews in a
Chapter 9Conversion Investigation Methods
When is searching through someone's garbage considered as a legal activity ?
a. When the trash is left unattended inside the suspects home.
b. When the trash is in the possession of the suspect.
Chapter 12Revenue- and Inventory-Related Financial Statement Frauds
1. _ involves selling unused assets for a promise to buy them or similar assets back at
roughly the same price.
a. Bill-and-hold sales
c. Channel stuffing
Chapter 18Legal Follow-Up
1. A(n) _ is a means of securing documents in the other party's possession that are relevant to the
issues of the case.
b. request for admission
d. production request
Chapter 13Liability, Asset, and Inadequate Disclosure Frauds
1. Which of the following expenditures would be most suspicious if it were capitalized?
a. Equipment purchases
b. Computer purchases
c. Prepaid expenses
d. Salaries to the top ma
Chapter 17Fraud in E-Commerce
1. _ is the viewing of information that passes along a network line, and it is a common method of
gathering information from unencrypted communications.
Chapter 11Financial Statement Fraud
1. Identify an example of a perceived pressure that can motivate financial statement fraud.
a. The ability to obfuscate the fraud behind complex transactions
b. Failure to meet Wall Streets earnings expe
Chapter 6Data-Driven Fraud Detection
1. Which of the following statements is NOT true?
a. In recent years there have been many cases of financial statement fraud.
b. Proactive fraud detection methods are in their infancy.
c. Accounting ano
Chapter 15Consumer Fraud
1. Consumer fraud is described as any fraud that:
a. is committed by a consumer.
b. targets individuals as victims.
c. is committed against an organization.
d. comes from a separate country.
Chapter 7Investigating Theft Acts
1. Which of the following is the last step in an investigation?
a. Interview suspect
b. Interview former employees
c. Interview former buyers
d. Perform surveillance
Chapter 8Investigating Concealment
1. _ are used by attorneys involved in litigation to track all documents.
a. Link analyses
b. Bates numbers
c. Bar codes
d. RFID tags
Chapter 6: Variable Costing and Segment Reporting: Tools for Management
LO 1: Explain how variable costing differs from absorption costing and compute unit
production costs under each method.
a. Overview of Variable and Absorption Costing
1. Key Assumptions of CVP Analysis
a. Selling price is constant
b. Costs are linear and can be accurately divided into variable (constant per unit) and fixed (constant in
c. In multiproduct compan
Chapter 5 Outline p. 232-241
Revenue Recognition and Profitability Analysis
Revenues: Are inflows or other enhancements of assets of an entity or settlements of its
liabilities (earning differed revenue) (or a combination of both) from delivering or pr