Stichworte Financial Accounting: IFRS

Stichworte: Financial Accounting: IFRS

Financial statements are prepared from which of the following trial balances?

Financial statements are prepared from which of the following trial balances?

What are the examples of decisions that can be supported by accounting information?

What are the examples of decisions that can be supported by accounting information?

List four factors you should consider when selecting a financial institution.

List four factors you should consider when selecting a financial institution.

The PHS regulations about financial conflict of interests require which party

The PHS regulations about financial conflict of interests require which party

Which of the following accounts is closed at the end of the accounting cycle?

Which of the following accounts is closed at the end of the accounting cycle?

Which organization sets the principles of financial accounting and reporting?

Which organization sets the principles of financial accounting and reporting?

Which of the following is not a component of an accounting information system

Which of the following is not a component of an accounting information system

Which of the following most clearly differentiates accounting and bookkeeping

Which of the following most clearly differentiates accounting and bookkeeping

What are some disadvantages of using a financial model for selecting projects?

What are some disadvantages of using a financial model for selecting projects?

Which of the following is the reason for overhead variance in cost accounting?

Which of the following is the reason for overhead variance in cost accounting?

The role of managerial accounting information in assisting management is a(n):

The role of managerial accounting information in assisting management is a(n):

Which of the following accounts are closed at the end of the accounting cycle?

Which of the following accounts are closed at the end of the accounting cycle?

Recording is the accounting process in which financial statements are prepared

Recording is the accounting process in which financial statements are prepared

The consumer financial protection bureau came about during which of the following?

The consumer financial protection bureau came about during which of the following?

Wann ist accounting profit und economic profit gleich

Wann ist accounting profit und economic profit gleich

Which of the following correctly summarizes one of the primary objectives of financial reporting?

Which of the following correctly summarizes one of the primary objectives of financial reporting?

Which among the following is not considered an internal user of accounting information?

Which among the following is not considered an internal user of accounting information?

In performing an audit of financial statements, the auditor should obtain a sufficient knowledge

In performing an audit of financial statements, the auditor should obtain a sufficient knowledge

Which of the following ratio would be of greatest interest the common shareholders?

Which of the following ratio would be of greatest interest the common shareholders?

Which one of the following questions is least likely to be addressed by financial managers?

Which one of the following questions is least likely to be addressed by financial managers?

Which of the following accounting principles is concerned with recording expenses in the same period as the revenues they were used for?

Which of the following accounting principles is concerned with recording expenses in the same period as the revenues they were used for?

A public or private organization that collects and invests money and offers financial services

A public or private organization that collects and invests money and offers financial services

Which of the following represents a financial change that impacts media buyers?

Which of the following represents a financial change that impacts media buyers?

Which of the following is not an example of technologys impact on the financial services industry?

Which of the following is not an example of technologys impact on the financial services industry?

Which financial statements reports financial performance over a period of time?

Which financial statements reports financial performance over a period of time?

Which of the following is an acceptable way of stating the accounting equation?

Which of the following is an acceptable way of stating the accounting equation?

Which of the following is not concerned with the role of management accounting?

Which of the following is not concerned with the role of management accounting?

Which of the following is not a business trend impacting management accounting?

Which of the following is not a business trend impacting management accounting?

Can financial statements be prepared directly from the adjusted tabular summary

Can financial statements be prepared directly from the adjusted tabular summary

Which of the following was the first body that set accounting standards in the USA?

Which of the following was the first body that set accounting standards in the USA?

Provide the key characteristics of rules-based standards and principles-based standards.

Provide the key characteristics of rules-based standards and principles-based standards.

Which of the following are the two methods of accounting for uncollectible receivables?

Which of the following are the two methods of accounting for uncollectible receivables?

What is the primary reason that the loss of manufacturing jobs hurts the financial well being of Americas workers?

What is the primary reason that the loss of manufacturing jobs hurts the financial well being of Americas workers?

Which ratio will be used by financial planners to determine the businesss ability to meet its short term obligations?

Which ratio will be used by financial planners to determine the businesss ability to meet its short term obligations?

Why cant traditional product costing systems account for costs of volume diversity?

Why cant traditional product costing systems account for costs of volume diversity?

Does every accounting transaction affects both the balance sheet and the income statement?

Does every accounting transaction affects both the balance sheet and the income statement?

Does the accounting equation stay in balance after each transaction is recorded?

Does the accounting equation stay in balance after each transaction is recorded?

What branch of accounting is evaluation of the performance of a sales department

What branch of accounting is evaluation of the performance of a sales department

Which of the following is an auditor least likely to consider a departure from generally accepted accounting principles?

Which of the following is an auditor least likely to consider a departure from generally accepted accounting principles?

Which of the following is most likely to result in a contingent liability disclosure as a footnote to the financial statements?

Which of the following is most likely to result in a contingent liability disclosure as a footnote to the financial statements?

What are the five questions you should ask before concluding a financial transaction?

What are the five questions you should ask before concluding a financial transaction?

Cost accounting is an integral part of the ________ function in an organization.

Cost accounting is an integral part of the ________ function in an organization.

Organizations in the financial services industry are very proficient in data mining techniques.

Organizations in the financial services industry are very proficient in data mining techniques.

What do you mean by management accounting explain its functions and limitations?

What do you mean by management accounting explain its functions and limitations?

What must every corporation do in maintaining and reporting its financial status

What must every corporation do in maintaining and reporting its financial status

Which of the following are considered both a separate accounting and legal entity

Which of the following are considered both a separate accounting and legal entity

What method of accounting would a government owned hospital use to record its revenues and expenses?

What method of accounting would a government owned hospital use to record its revenues and expenses?

What is the highest level of authoritative rules for state and local government accounting?

What is the highest level of authoritative rules for state and local government accounting?

Which basis of accounting is consistent with the economic resources measurement focus?

Which basis of accounting is consistent with the economic resources measurement focus?

Which of the following statements is not true of manufacturing company accounting?

Which of the following statements is not true of manufacturing company accounting?

The financial statement that summarizes revenues and expenses for a period of time is the

The financial statement that summarizes revenues and expenses for a period of time is the

Generally accepted accounting principles (gaap) require that inventory be recorded at

Generally accepted accounting principles (gaap) require that inventory be recorded at

How do you use the Currency Number Format using the dollar symbol and show two decimal places?

How do you use the Currency Number Format using the dollar symbol and show two decimal places?

Under the allowance method of accounting for uncollectible accounts, bad debt expense is debited

Under the allowance method of accounting for uncollectible accounts, bad debt expense is debited

The entry to close the appropriate insurance account at the end of the accounting period is

The entry to close the appropriate insurance account at the end of the accounting period is

Which of the following is a financial statement that reports the assets liabilities?

Which of the following is a financial statement that reports the assets liabilities?

When information includes everything necessary to reflect what really happened, it has

When information includes everything necessary to reflect what really happened, it has

Which of the following is commonly used tool for comparison of financial statements?

Which of the following is commonly used tool for comparison of financial statements?

Which are considered to be the working areas of accounting? (select all that apply)

Which are considered to be the working areas of accounting? (select all that apply)

Do individuals have the right to request an accounting of disclosures of their PHI?

Do individuals have the right to request an accounting of disclosures of their PHI?

Financial information is appropriately presented and disclosures clearly expressed.

Financial information is appropriately presented and disclosures clearly expressed.

Is the loss in the value of property due to its use of life wear tear decay and etc?

Is the loss in the value of property due to its use of life wear tear decay and etc?

Which one of the following statements regarding the role of the financial manager is correct?

Which one of the following statements regarding the role of the financial manager is correct?

Which of the following knowledge and skills should an accounting professional possess?

Which of the following knowledge and skills should an accounting professional possess?

Which group would have a financial incentive to implement CDS group of answer choices

Which group would have a financial incentive to implement CDS group of answer choices

Which of the following bodies formulate the generally accepted accounting principles?

Which of the following bodies formulate the generally accepted accounting principles?

Relying solely on financial measures can result in dysfunctional business operations.

Relying solely on financial measures can result in dysfunctional business operations.

What refers to the rules and procedures governing the content and form of financial reports?

What refers to the rules and procedures governing the content and form of financial reports?

Where from can you get the information about companys financial report and other information?

Where from can you get the information about companys financial report and other information?

To provide financial assistance to entrepreneurs the government has set up a number of

To provide financial assistance to entrepreneurs the government has set up a number of

What are the major differences between managerial accounting and financial accounting who are the intended users and what are their informational needs?

What are the major differences between managerial accounting and financial accounting who are the intended users and what are their informational needs?

What are the major differences between financial accounting and managerial accounting?

What are the major differences between financial accounting and managerial accounting?

Which of the following is correct regarding the changing role of managerial accounting?

Which of the following is correct regarding the changing role of managerial accounting?

What is the quality of information that is capable of making a difference in a decision

What is the quality of information that is capable of making a difference in a decision

Which professional organization represents management accountants in the United States?

Which professional organization represents management accountants in the United States?

Why is it misleading to compare a companys financial ratios with those of other firms that operate within the same industry?

Why is it misleading to compare a companys financial ratios with those of other firms that operate within the same industry?

One problem with comparing financial ratios prepared by different reporting agencies is

One problem with comparing financial ratios prepared by different reporting agencies is

If the cash balance shown in the accounting records is less than the correct cash balance

If the cash balance shown in the accounting records is less than the correct cash balance

Which of the following prospective financial statements is are appropriate for general use

Which of the following prospective financial statements is are appropriate for general use

Which of the following is likely to result in an inflow of financial capital to country z?

Which of the following is likely to result in an inflow of financial capital to country z?

Which of the following summarizes the financial performance of an organization over a period of time?

Which of the following summarizes the financial performance of an organization over a period of time?

Companies with large amounts of fixed costs will generally have a high operating leverage.

Companies with large amounts of fixed costs will generally have a high operating leverage.

In what type of business do the owners bear no personal financial responsibility for the companys debts and obligations?

In what type of business do the owners bear no personal financial responsibility for the companys debts and obligations?

What branch of accounting evaluate whether the financial statements are presented fairly and in compliance with accounting standards?

What branch of accounting evaluate whether the financial statements are presented fairly and in compliance with accounting standards?

Which of the following does IFRS 1 require an entity to do in the opening IFRS statement of financial position?

Which of the following does IFRS 1 require an entity to do in the opening IFRS statement of financial position?

What field of accounting would provide the most useful information to internal decision makers in regards to planning budgeting and forecasting?

What field of accounting would provide the most useful information to internal decision makers in regards to planning budgeting and forecasting?

What branch of accounting focuses on the producing accounting reports for internal users to support decision

What branch of accounting focuses on the producing accounting reports for internal users to support decision

Stating assets and liabilities and changes in them in terms of a common financial denominator

Stating assets and liabilities and changes in them in terms of a common financial denominator

Which underlying assumption serves as the basis for preparing financial statements at a regular artificial points in time?

Which underlying assumption serves as the basis for preparing financial statements at a regular artificial points in time?

Concept of social accounting, social audit and cash Based single entry system of accounting MCQ

Concept of social accounting, social audit and cash Based single entry system of accounting MCQ

Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

Which principle guideline justifies a company violating an accounting principle because the amounts are not significant?

Which principle guideline justifies a company violating an accounting principle because the amounts are not significant?

Which principle states revenue is recorded when earned regardless of when payment is received?

Which principle states revenue is recorded when earned regardless of when payment is received?

Which of the following states that a transaction is not recorded in the books of accounts unless?

Which of the following states that a transaction is not recorded in the books of accounts unless?

What is the name of the accounting rule that records a revenue amount at the time of sale even if it is on account instead of cash?

What is the name of the accounting rule that records a revenue amount at the time of sale even if it is on account instead of cash?

What basic accounting concept is states that business and the owner are two separate distinct persons?

What basic accounting concept is states that business and the owner are two separate distinct persons?

Which accounting concepts states that omitting or misstating this information could influence users of financial statements?

Which accounting concepts states that omitting or misstating this information could influence users of financial statements?

Which of the following states that transaction is not recorded in the books of accounts unless it is measurable in terms of money?

Which of the following states that transaction is not recorded in the books of accounts unless it is measurable in terms of money?

Which branch of accounting means examination of financial statements by a CPA for the purpose of expressing an opinion as to the fairness of the statements?

Which branch of accounting means examination of financial statements by a CPA for the purpose of expressing an opinion as to the fairness of the statements?

If the cash balance shown on an entitys accounting records is less than the correct cash balance

If the cash balance shown on an entitys accounting records is less than the correct cash balance