Generally Accepted Accounting Principles and 0.0maximum Possible Score
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View Attempt 1 of 1 Title: | Ch01 Quiz | Started: | August 21, 2012 9:12 AM | Submitted: | August 21, 2012 9:22 AM | Time spent: | 00:09:30 | Total score: | 10/10 = 100%Total score adjusted by 0.0Maximum possible score: 10 | 1. | ch01001 | | Financial accounting information is: | | | Student Response | Value | Correct Answer | Feedback | A. | Designed to assist investors and creditors. | 100% | | | B. | Not used by managers and in income tax returns. | | | | C. | Called "special-purpose" accounting information. | | | | D. | Not applicable to individuals. | | | | | Score: | 2/2 | | | 2. | ch01003 | | Generally accepted accounting principles: | | | Student Response | Value | Correct Answer | Feedback | A. | Are based on official decrees only. | | | | B. | Are based on tradition only. | | | | C. | Are based on an accountant's experience only. | | | | D. | May change over time. | 100% | | | | Score: | 2/2 | | | 3. | ch01004 | | The Sarbanes-Oxley Act of 2002 created: | | | Student Response | Value | Correct Answer | Feedback | A. | The Security and Exchange Commission. | | | | B. | The Financial Accounting Standards Board. | | | | C. | The Public Company Accounting Oversight Board. | 100% | | | D. | The Income Tax Return Overview Board. | | | | | Score: | 2/2 | | | 4. | ch01005 | | Overseeing a company's affairs to ensure that the company is managed with the best interest of shareholders in mind is called: | | | Student Response | Value | Correct Answer | Feedback | A. | Internal control. | | | | B. | Financial integrity. | | | | C. | Corporate governance. | 100% | | | D. | The audit function. | | | | | Score: | 2/2 | | | 5. | ch01013 | | Which of the following is not a basic function of an accounting
Your location: Assessments › View All Submissions › View Attempt
View Attempt 1 of 1 Title: | Ch01 Quiz | Started: | August 21, 2012 9:12 AM | Submitted: | August 21, 2012 9:22 AM | Time spent: | 00:09:30 | Total score: | 10/10 = 100%Total score adjusted by 0.0Maximum possible score: 10 | 1. | ch01001 | | Financial accounting information is: | | | Student Response | Value | Correct Answer | Feedback | A. | Designed to assist investors and creditors. | 100% | | | B. | Not used by managers and in income tax returns. | | | | C. | Called "special-purpose" accounting information. | | | | D. | Not applicable to individuals. | | | | | Score: | 2/2 | | | 2. | ch01003 | | Generally accepted accounting principles: | | | Student Response | Value | Correct Answer | Feedback | A. | Are based on official decrees only. | | | | B. | Are based on tradition only. | | | | C. | Are based on an accountant's experience only. | | | | D. | May change over time. | 100% | | | | Score: | 2/2 | | | 3. | ch01004 | | The Sarbanes-Oxley Act of 2002 created: | | | Student Response | Value | Correct Answer | Feedback | A. | The Security and Exchange Commission. | | | | B. | The Financial Accounting Standards Board. | | | | C. | The Public Company Accounting Oversight Board. | 100% | | | D. | The Income Tax Return Overview Board. | | | | | Score: | 2/2 | | | 4. | ch01005 | | Overseeing a company's affairs to ensure that the company is managed with the best interest of shareholders in mind is called: | | | Student Response | Value | Correct Answer | Feedback | A. | Internal control. | | | | B. | Financial integrity. | | | | C. | Corporate governance. | 100% | | | D. | The audit function. | | | | | Score: | 2/2 | | | 5. | ch01013 | | Which of the following is not a basic function of an accounting