Customs and traditions which guide the accountants to prepare accounting statements are called __________ 

Customs and traditions which guide the accountants to prepare accounting statements are called __________ 
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Customs and traditions which guide the accountants to prepare accounting statements are called __________ (a) ... (c) Concepts (d) Procedure
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What term refers to encouraging immigrants and other ethnic groups to preserve the traditions and customs of their cultures?

Description : What term refers to encouraging immigrants and other ethnic groups to preserve the traditions and customs of their cultures?

Last Answer : What is the answer ?

The capital at the beginning of the accounting year is ascertained by preparing __________ 

Description : The capital at the beginning of the accounting year is ascertained by preparing __________ 

Last Answer : The capital at the beginning of the accounting year is ascertained by preparing __________ (a) ... of Affairs (d) Closing Statement of Affairs

The CPA title was conceived and created, under the first accountancy law, for professional accountants engaged in which of the following? a. Accounting education b. Public accounting c. Management accounting d. Government accounting

Description : The CPA title was conceived and created, under the first accountancy law, for professional accountants engaged in which of the following? a. Accounting education b. Public accounting c. Management accounting d. Government accounting

Last Answer : Public accounting

In their fiduciary role, the professional accountants owe their primary loyalty to: a. The accounting profession b. The general public c. The client d. Government regulatory agencies

Description : In their fiduciary role, the professional accountants owe their primary loyalty to: a. The accounting profession b. The general public c. The client d. Government regulatory agencies

Last Answer : The client

How frequent can a professional accountants have press and other media releases commemorating their anniversaries in public practice by informing the public of their achievements or accomplishments in contributing toward nation building or enhancing the image or standards of the accounting profession? a. 2 years b. 3 years c. 5 years d. 6 years

Description : How frequent can a professional accountants have press and other media releases commemorating their anniversaries in public practice by informing the public of their achievements or accomplishments in contributing toward nation building ... profession? a. 2 years b. 3 years c. 5 years d. 6 years

Last Answer : 5 years

Operational audits generally have been conducted by internal and COA auditors, but may be performed by certified public accountants. A primary purpose of an operational audit is to provide: a. A measure of management performance in meeting organizational goalsb. The results of internal examinations of financial and accounting matters to a company's top-level management. c. Aid to the independent-auditor, who is conducting the examination of the financial statements. d. A means of assurance that internal accounting controls are functioning as planned.

Description : Operational audits generally have been conducted by internal and COA auditors, but may be performed by certified public accountants. A primary purpose of an operational audit is to provide: ... statements. d. A means of assurance that internal accounting controls are functioning as planned

Last Answer : A measure of management performance in meeting organizational goals

The objectives of the Philippine accountancy Act of 2004 are the following except: a. The standardization and regulation of accounting education. b. The examination for registration of certified public accountants. c. The integration of the accounting profession. d. The supervision, control, and regulation of the practice of accountancy in the Philippines

Description : The objectives of the Philippine accountancy Act of 2004 are the following except: a. The standardization and regulation of accounting education. b. The examination for registration of certified public ... d. The supervision, control, and regulation of the practice of accountancy in the Philippines

Last Answer : The integration of the accounting profession.

The expertise that distinguishes auditors from accountants is in the a. Ability to interpret PAS/PFRS. b. Accumulation and interpretation of evidence. c. Ability to interpret generally accepted accounting principles. d. Requirement to possess education beyond the bachelor's degree.

Description : The expertise that distinguishes auditors from accountants is in the a. Ability to interpret PAS/PFRS. b. Accumulation and interpretation of evidence. c. Ability to interpret generally accepted accounting principles. d. Requirement to possess education beyond the bachelor's degree.

Last Answer : Accumulation and interpretation of evidence.

The process by which accountants use their knowledge of accounting rules to manipulate the figures reported in the accounts of a business in known as- (a) Financial accounting (b) creative accounting (c) cost accounting (d) fair value accounting

Description : The process by which accountants use their knowledge of accounting rules to manipulate the figures reported in the accounts of a business in known as- (a) Financial accounting (b) creative accounting (c) cost accounting (d) fair value accounting

Last Answer : B. CREATIVE ACVOUNTING

You own Dude, Inc., which manufactures wooden tables. You need to hire some accountants to prepare your monthly financial statements. The preparation of your financial statements is referred to as a(n) a. Audit. b. Review. c. Compilation. d. Special report

Description : You own Dude, Inc., which manufactures wooden tables. You need to hire some accountants to prepare your monthly financial statements. The preparation of your financial statements is referred to as a(n) a. Audit. b. Review. c. Compilation. d. Special report

Last Answer : Compilation.

Mark correct options a) A post office or Sorting office or section which exchanges mails with offices in foreign countries is known as ‘Office of exchange”. b) A Foreign post office is an office of exchange in which the work of assessment of customs duty on foreign mail is also carried out. c) A Sub foreign Post office is does not close and receive any bags but in which the work of customs examination, assessment and accounting of custom duty is carried out. d) All the above

Description : Mark correct options a) A post office or Sorting office or section which exchanges mails with offices in foreign countries is known as Office of exchange . b) A Foreign post office is an office ... of customs examination, assessment and accounting of custom duty is carried out. d) All the above

Last Answer : d) All the above

I sail the seas of the north with no captain to guide me and no crew to man me. I am feared by all who do not prepare themselves for my wrath. Ships have never defeated me head on. But when my time comes, I will finally be at peace and one with the sea. What am I? -Riddles

Description : I sail the seas of the north with no captain to guide me and no crew to man me. I am feared by all who do not prepare themselves for my wrath. Ships have never defeated me head on. But when my time comes, I will finally be at peace and one with the sea. What am I? -Riddles

Last Answer : An Iceberg.

Regional Zones were called __________ 

Description : Regional Zones were called __________ 

Last Answer : Regional Zones were called __________ (a) Sabha (b) Sangharajya (c) Khanda (d) Mahajanpada

The function of a secretary to look after the inward and outward mail is called __________ 

Description : The function of a secretary to look after the inward and outward mail is called __________ 

Last Answer : The function of a secretary to look after the inward and outward mail is called __________ (a) Reception (b) Statutory (c) Correspondence

The difference between the capital at the end of the year and capital at the beginning of the year is called __________ 

Description : The difference between the capital at the end of the year and capital at the beginning of the year is called __________ 

Last Answer : The difference between the capital at the end of the year and capital at the beginning of the year is ... (b) Income (c) Drawings (d) Expenses

A list of balances of all the accounts in ledger is called __________ 

Description : A list of balances of all the accounts in ledger is called __________ 

Last Answer : A list of balances of all the accounts in ledger is called __________ (a) Balance Sheet (b) Profit and ... c (c) Trading A/c (d) Trial Balance

Left hand side of an account is called __________ 

Description : Left hand side of an account is called __________ 

Last Answer : Left hand side of an account is called __________ (a) Credit (b) Debit (c) Middle (d) Centre

Amount withdrawn by the owner for his personal expenses is called __________  (a) Drawings  (b) Personal expenses  (c) Cash  (d) Assets

Description : Amount withdrawn by the owner for his personal expenses is called __________  (a) Drawings  (b) Personal expenses  (c) Cash  (d) Assets

Last Answer : Amount withdrawn by the owner for his personal expenses is called __________ (a) Drawings (b) Personal expenses (c) Cash (d) Assets

Sense of territoriality and the ensuing awareness of autonomy were the main factors responsible for the __________ 

Description : Sense of territoriality and the ensuing awareness of autonomy were the main factors responsible for the __________ 

Last Answer : Sense of territoriality and the ensuing awareness of autonomy were the main factors responsible for ... d) formation of ancient janapadas in India.

In ancient Indian literature, the post of secretary is referred as __________ 

Description : In ancient Indian literature, the post of secretary is referred as __________ 

Last Answer : In ancient Indian literature, the post of secretary is referred as __________ (a) Sachiva (b) Scribae (c) Secretarius

In ancient Indian history, secretary was referred to as __________ 

Description : In ancient Indian history, secretary was referred to as __________ 

Last Answer : In ancient Indian history, secretary was referred to as __________ (a) Scribae (b) Secretarius (c) Amatya

Under single Entry system, Profit = Closing Capital less __________ 

Description : Under single Entry system, Profit = Closing Capital less __________ 

Last Answer : Under single Entry system, Profit = Closing Capital less __________ (a) Opening Capital (b) ... Assets (c) Opening Liabilities (d) Drawings

If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ 

Description : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ 

Last Answer : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ (a) ₹ 35,000 (b) ₹ 30,000 (c) ₹ 25,000 (d) ₹ 15,000

The ancient civilisations of Mesopotamia and Harappa had cultural ties with each other because of __________ 

Description : The ancient civilisations of Mesopotamia and Harappa had cultural ties with each other because of __________ 

Last Answer : Choose the correct reason and complete the sentence: The ancient civilisations of Mesopotamia and ... were found (d) impressive town planning

The first settlement of the Early Harappan period was established __________ 

Description : The first settlement of the Early Harappan period was established __________ 

Last Answer : Choose the correct reason and complete the sentence: The first settlement of the Early Harappan period was established ... .E (d) around 3300 B.C.E

The evidence of the first excavations at Harappa had indicated __________ 

Description : The evidence of the first excavations at Harappa had indicated __________ 

Last Answer : Choose the correct reason and complete the sentence: The evidence of the first excavations at Harappa ... (d) the decline of Harappan civilisation.

By the amount of depreciation the value of asset __________ 

Description : By the amount of depreciation the value of asset __________ 

Last Answer : By the amount of depreciation the value of asset __________ (a) decreases (b) increases (c) becomes zero (d) remains constant

Lothal was excavated by __________ 

Description : Lothal was excavated by __________ 

Last Answer : Lothal was excavated by __________ (a) J. P. Joshi (b) S. R. Rao (c) R. D. Banerjee (d) Madho Swarup

Financial statements are a part of __________ 

Description : Financial statements are a part of __________ 

Last Answer : Financial statements are a part of __________ (a) Book keeping (b) Planning (c) Accounting (d) None of these

In cash transaction, goods or services are exchanged for __________ 

Description : In cash transaction, goods or services are exchanged for __________ 

Last Answer : In cash transaction, goods or services are exchanged for __________ (a) other goods (b) other services (c) immediate cash (d) grains

Do you have to study accounting to prepare taxes?

Description : Do you have to study accounting to prepare taxes?

Last Answer : No, You don't need to study accounting to prepare taxes. It will help if you seek this as a sort of job. The education is only needed for other practices.

An attestation engagement is one in which a CPA is engaged to: a. Assemble prospective financial statements based on the assumptions of the entity's management without expressing any Testify as an expert witness in accounting, auditing or tax matters, given certain stipulated facts. b. assurance. c. Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party. d. Provide tax advice or prepare a tax return based on financial information the CPA has not audited or reviewed.

Description : An attestation engagement is one in which a CPA is engaged to: a. Assemble prospective financial statements based on the assumptions of the entity's management without expressing any Testify as an expert ... or prepare a tax return based on financial information the CPA has not audited or reviewed.

Last Answer : Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party

The objective of quality control mandates that a public accounting firm should establish policies and procedures for professional development which provide reasonable assurance that all entry-level personnel a. Prepare working papers which are standardized in form and content. b. Will advance within the organization. c. Develop specialties in specific areas of public accounting. d. Have the knowledge required to enable them to fulfill responsibilities assigned

Description : The objective of quality control mandates that a public accounting firm should establish policies and procedures for professional development which provide reasonable assurance that all entry-level ... accounting. d. Have the knowledge required to enable them to fulfill responsibilities assigned

Last Answer : Have the knowledge required to enable them to fulfill responsibilities assigned

A CPA who is engaged to prepare an income tax return has a duty to prepare it in such a manner that the tax is: a. The legal minimum. b. Computed in conformity with generally accepted accounting principles. c. Supported by the client’s audited financial statements. d. Not subject to change upon audit

Description : A CPA who is engaged to prepare an income tax return has a duty to prepare it in such a manner that the tax is: a. The legal minimum. b. Computed in conformity with generally accepted ... principles. c. Supported by the client's audited financial statements. d. Not subject to change upon audit

Last Answer : The legal minimum

Which of the following steps in the accounting cycle may be performed more frequently than annually? a. Prepare a post-closing trial balance b. Journalize closing entries c. Post closing entries d. Prepare a trial balance

Description : Which of the following steps in the accounting cycle may be performed more frequently than annually? a. Prepare a post-closing trial balance b. Journalize closing entries c. Post closing entries d. Prepare a trial balance

Last Answer : d. Prepare a trial balance

Which of the following steps in the accounting cycle would not generally be performed daily? a. Journalize transactions b. Post to ledger accounts c. Prepare adjusting entries d. Analyze business transactions

Description : Which of the following steps in the accounting cycle would not generally be performed daily? a. Journalize transactions b. Post to ledger accounts c. Prepare adjusting entries d. Analyze business transactions

Last Answer : c. Prepare adjusting entries

The final step in the accounting cycle is to prepare a. closing entries. b. financial statements. c. a post-closing trial balance. d. adjusting entries.

Description : The final step in the accounting cycle is to prepare a. closing entries. b. financial statements. c. a post-closing trial balance. d. adjusting entries.

Last Answer : c. a post-closing trial balance.

. Which one of the following is an optional step in the accounting cycle of a business enterprise? a. Analyze business transactions b. Prepare a worksheet c. Prepare a trial balance d. Post to the ledger accounts

Description : . Which one of the following is an optional step in the accounting cycle of a business enterprise? a. Analyze business transactions b. Prepare a worksheet c. Prepare a trial balance d. Post to the ledger accounts

Last Answer : b. Prepare a worksheet

Bookkeepers and accountants: How to handle international money transfers?

Description : Bookkeepers and accountants: How to handle international money transfers?

Last Answer : Not be harsh; your friend needs an international lawyer and a CPA, thanks for helping but he could be trouble with the IRS already.

Accountants and small business owners can you give me some info on a SEP IRA?

Description : Accountants and small business owners can you give me some info on a SEP IRA?

Last Answer : Here’s the Nerd Wallet take on SEP IRA. Yes you have to contribute with certain rules.

Accountants: In what year is the income taxable when an option is written in December, and expires in January?

Description : Accountants: In what year is the income taxable when an option is written in December, and expires in January?

Last Answer : answer:Check out IRS Pub. 550 - This seems like the most relevant section - it looks like you have a short term gain but not at receipt: Writers of puts and calls. If you write (grant) a put or a ... amount you pay and the amount you receive for the put or call is a short-term capital gain or loss.

What do you make of Randy Quaid's effort to seek asylum & refugee status in Canada based on his claim that a ring of Hollywood lawyers, accountants, managers, and hit men are extorting him and trying to kill him and other Hollywood stars?

Description : What do you make of Randy Quaid's effort to seek asylum & refugee status in Canada based on his claim that a ring of Hollywood lawyers, accountants, managers, and hit men are extorting him and trying to kill him and other Hollywood stars?

Last Answer : Sounds like a conspiracy to me! Or maybe – just a bunch of crap.

Corporate accountants of , where does the money for executive bonuses actually come from?

Description : Corporate accountants of , where does the money for executive bonuses actually come from?

Last Answer : Two magic words “discretionary spending”

What is the venn diagram to show that there are 8 equal candidates for a job 3 are qualified accountants 4 are graduates and two have neither of this qualification?

Description : What is the venn diagram to show that there are 8 equal candidates for a job 3 are qualified accountants 4 are graduates and two have neither of this qualification?

Last Answer : I have found a similar question (via a web search) asking aboutprobabilities with the given data, but nothing about a venn diagramso I have rewritten the question to best represent the originaltruncated ... inside the overlap of the twocircles and 3 inside the graduate only section of that circle.

Do accountants have to keep a tax return transcript for more than ten years on file?

Description : Do accountants have to keep a tax return transcript for more than ten years on file?

Last Answer : The IRS has a strict set of rules for everyone who prepares taxes. So due to these rules it is required that Accountants keep a tax return transcript on file for at least 7 years. Some though will keep them on file for a lot longer.

What is the cheapest tax software for accountants I can find online?

Description : What is the cheapest tax software for accountants I can find online?

Last Answer : Being a tax accountant a good quality tax preparation software would be QuickBooks Accountant. You can find this online at: proadvisor.intuit.com/QuickBooks.

Certified Public Accountants Offer A Range Of Services?

Description : Certified Public Accountants Offer A Range Of Services?

Last Answer : Public Accountants, also known as Certified Public Accountants, or CPAs, offer a range of valuable financial services to their clients and employers. To become a Certified Public ... Certified Public Accountant firm, which is staffed with these qualified financial professionals. Certified Pub

What are all the different types of accountants?

Description : What are all the different types of accountants?

Last Answer : Accountants fall under a number of categories. · Auditorskeep the public records in view also review and test financial records. · Forensic Accountants are interested in white collar crimes ... preparing financial reports, ensuring that taxes are properly paid, and maintaining financial records.

Which of the following statements concerning the intended user of a professional accountant's report is incorrect? a. The responsible party and the intended user may both be within the same organization. b. The intended user should never be established by agreement between the practitioner and the responsible party or those engaging or employing the practitioner. c. In some circumstances, the intended user may be established by law. d. The responsible party may also be one of the intended users

Description : Which of the following statements concerning the intended user of a professional accountant's report is incorrect? a. The responsible party and the intended user may both be within the same organization. b. ... may be established by law. d. The responsible party may also be one of the intended users

Last Answer : The intended user should never be established by agreement between the practitioner and the responsible party or those engaging or employing the practitioner