International Accountancy Quiz Question from Test Bank

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• Accountancy Test Questions Essay

  ...Commission to ensure that registered financial statements are presented fairly.b.the examination of financial statements by a CPA in order to express an opinion on their fairness.c.a part of accounting that involves only recording of economic events.d.an area of accounting that involves such activities as cost accounting, budgeting, and accounting information systems. 10) In recording an accounting transaction in a double-entry system A.there must only be two accounts affected by any transaction. b.the number of debit accounts must equal the number of credit accounts.c.there must always be entries made on both sides of the accounting equation.D.the amount of the debits must equal the amount of the credits. 11) If a company has overdrawn its bank balance, then a. it cannot be detected by observing the balance of the cash account.B.the cash account debits will exceed the cash account credits.c.its cash account will show a debit balance.d. its cash accounts will show a credit balance 12) An account will have a credit balance if the A.last transaction entered was a credit. B.first transaction entered was a credit.c.credits exceed the debits.d.debits exceed the credits. 13) On August 13, 2008, Dudbury Enterprises purchased office equipment for $1,000 and office supplies of $200 on account. Which of the following journal entries is recorded correctly and in the standard format? Office Equipment 1,000 Office Supplies 200...

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• Organizational Leadership Test Questions with Answers Essay

  ...To purchase this material click on below link http://www.storehomework.com/product/ldr-531-week-1-quiz-new More material ( courses, final exam, midterm exam, week, Assignment ,lab, discussion questions... ) on our website http://www.storehomework.com/ LDR 531 Week 1 Quiz NEW 1 According to Blake and Mouton, effective leaders are most likely to facilitate subordinate growth and development by having a high concern for the task and a moderate concern for relationships a moderate concern for the task and a high concern for relationships a high concern for both the task and relationships a moderate concern for both the task and relationships 2 Which of the following is most likely to be a drawback of highly conscientious people according to the Big Five Model? They focus on learning instead of performing a job They do not adapt well to changing contexts They emphasize excessively on being creative They are unlikely to engage in numerous risky behaviors such as smoking and drinking 3 ________ is an extrinsic means of motivation. Recognition  Flexibility  Responsibility  Salary 4 Which of the following personality traits indicates the degree to which a person is unemotional and pragmatic and believes that ends can justify means? Extraversion Narcissism Machiavellianism Agreeableness 5 The _____ is a personality assessment model that taps basic dimensions which encompass most of the significant variation in human personality, namely...

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• Organizational Leadership Test Questions with Answers Essay

  ...To purchase this material click on below link http://www.storehomework.com/product/ldr-531-week-3-quiz-new More material ( courses, final exam, midterm exam, week, Assignment ,lab, discussion questions... ) on our website http://www.storehomework.com/ LDR 531 Week 3 Quiz 1 The two general approaches to negotiation are ________ bargaining and ________ bargaining. formal; informal affective; reflective emotional; rational distributive; integrative 2 When ________ is of importance in decision making, group decisions are preferred to individual decisions.  efficiency acceptance of solution clear responsibility speed 3 As a consequence of the information circulated by the grapevine in an organization, employees experience  increased member satisfaction increased anxiety increased power increased certainty 4 Genepa Corporation manufactures home appliances and other electronic products. Genepa is planning to introduce a new refrigerator model. The marketing manager at Genepa has developed a marketing plan for this new product and wants to communicate this plan to all the employees in the marketing department. Which of the following is most likely to be the best form of communication for communicating this plan? Oral communication Grapevine communication Written communication Nonverbal communication 5 The ________ view of conflict focuses on productive resolution of conflicts. transactional managed interactionist rational 6 The...

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• Test Essay

  ...because of their placement between layer 3 and layer 2 headers.) to the data package, this label contains special addressing and sometimes prioritization information. Because the MPLS label contains all the information necessary for the router to forward the package to the next hop, the router does not have to spend time analyzing the entire package thus improving network latency or bottlenecks. Due to its multi protocol capabilities MPLS can be integrated with different networking technologies from ATM to native IP environments; in addition, this multi protocol capability also provides a way to converge different types of traffic such as data, voice and video onto one network. MPLS technology also provides some other advantageous features like Traffic Engineering (TE), VPN, Any Transport over MPLS (AToM) and Quality of Service (QoS). This paper will help provide an understanding of how MPLS works and the QoS capabilities it can provide. History of MPLS In 1996 a group from Ipsilon Networks introduced a “flow management protocol”, this technology only worked with ATM transmissions and did not become very popular in the market. Not long after Cisco Systems proposed a similar technology called “Tag Switching” that was not restricted to ATM transmissions; at first this technology was proprietary to Cisco. Cisco renamed the technology to “Label Switching” and gave it to the Internet Engineering Task Force (IETF) for open...

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• Accountancy Test Questions Essay

  ...PAPER F8 (INT): AUDIT AND ASSURANCE ANSWERS 1 BLAKE CO Key answer tips Walk in the footsteps of a top tutor The question requires an understanding of the purpose of control systems, namely payroll in this scenario. The student is also required to identify weaknesses relevant to the scenario and suggest improvements. This should not present any real challenge to a well prepared student as it is typical of the F8 exam. NOTE: there are 2 presentation marks for adopting a management letter style. The remainder of the question focuses on audit evidence/procedures. Once again students should be prepared for this. However, be careful to respond to the specific requirement, i.e.: (c) requires analytical procedures and (d) requires tests conducted to assess the accuracy of the time recording system. The highlighted words are key phases that markers are looking for. (a) Control Objectives – wages system – Employees are only paid for work that they have done – Gross pay has been calculated correctly – Gross pay has been authorised – Net pay has been calculated correctly Gross and net pay have been recorded accurately in the general ledger – Only genuine employees are paid – Correct amounts are paid to taxation authorities. (b) The Directors Blake Co 110 High Street Littlehampton HH1 7YY 3 December 2008 Dear Sirs Management letter As usual at the end of our audit, we write to bring to your attention weaknesses in your company’s...

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• Accountancy Class Test Questions Essay

  ...Candidates are not permitted to remove this paper from the examination room. STUDENT NUMBER………………………… STUDENT'S NAME..................................................……………………………………..……..……...... First name Last name SIGNATURE……………………………………………………………………………… MACQUARIE UNIVERSITY Semester 2, 2010 IN-CLASS TEST NO 2 Unit: ACCG308 CORPORATE ACCOUNTING AND REPORTING Time allowed: Total number of questions: Instructions: 45 minutes ONE This is a closed book examination. You are not permitted to access any books, notes or other written materials. Silent calculators, nonprogrammable are allowed. Questions must be answered on the examination paper. Answer all parts of all questions. (Office Use Only – Do Not Write Here) Total /25 Question 1 (25 marks) On the 1 July 20X6 Howard Ltd gained control of Carter Ltd by buying 70% of its shares for $70,000. At this date, Carter had share capital $50,000 and retained profits $30,000. Additional information:  Goodwill impairment is $500 in year ended 20X8 and $850 in 20X9.   Dividends are paid out of current period profit. The dividends were paid before year-end. Inventory purchases by Howard from Carter during the current year amounted to $30,000. Their cost to Carter was $20,000. Howard still holds $18,000 of this inventory at year-end. Loan from Carter attracts 12% interest per annum. The interest was paid...

  972  Words | 6  Pages

• Accountancy Test Questions Essay

  ...| 1.0/1.0 | | Correct Answer(s): | B | 2. The _______________ shows the firm's operating results over a period of time. A) Income Statement B) Statement of Cash Flows C) Balance Sheet D) None of the above Points Earned: | 1.0/1.0 | | Correct Answer(s): | A | 3. All of the following except one are tax-deductible expenses. A) interest expense B) depreciation C) common stock dividends D) income taxes Points Earned: | 0.0/1.0 | | Correct Answer(s): | C | 4. All of the following are non-operating expenses except _____________. A) interest expense B) cost of goods sold C) preferred stock dividends D) taxes Points Earned: | 0.0/1.0 | | Correct Answer(s): | B | 5. Bondholders receive _____________ from the business firm. A) preferred dividend payments B) common stock payments C) interest payments D) royalties Points Earned: | 0.0/1.0 | | Correct Answer(s): | C | 6. The ratio of net income to common shares outstanding is called ______________. A) price/earnings ratio B) earnings per share C) dividends per share D) none of the above Points Earned: | 0.0/1.0 | | Correct Answer(s): | B | 7. Usually, firms with high price/earnings ratios are ____________ firms. A) growth B) declining C) mature D) none of the above Points Earned: | 1.0/1.0 | | Correct Answer(s): | A | 8. One of the limitations of the ____________ is that it is based on historical costs. A) income statement B)...

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• International Trade Test Questions Essay

  ...Numerically calculate the demand equation for imported wheat in Home. Draw the corresponding curve. What is the price of wheat in Home if there is no trade with Foreign? b) Now add Foreign. The demand for wheat in Foreign is: D* = 80 – 20P, while the supply of wheat in Foreign equals S* = 40 + 20P. Numerically calculate the supply equation for wheat exported by Foreign. Draw in the corresponding curve in the figure you drew for a). What is the price of wheat in Foreign if there would be no trade with Home? c) Now assume that Home and Foreign start trading wheat. There are no costs of transport. Calculate the equilibrium price of wheat in case of open-border trade. What is the amount of wheat traded? Draw the equilibrium in the figure made for question a) and b). d) Now Home levies a 0.5 import duty on wheat. Calculate the price of wheat in Home and Foreign and the corresponding demand and supply of wheat in Home and Foreign. How much wheat is now being traded? (Hint: The demand for imports is affected by a tariff. Consumers now face a higher price: P+t (in case of a specific tariff) or (1+t)P (in case of an ad valorem tariff) instead of P.) e) Draw the demand and supply curves for wheat in Home and calculate the terms of trade gain, the efficiency loss, and the total effect of the levy on the welfare of Home. Exercise 7.3 The nation of Acirema is small and unable to affect world prices. It imports peanuts at the price of $10 per bag. The demand...

  627  Words | 2  Pages