Criminal liability for accountants

Select one:

a) is possible under the Securities Act of 1933, the 1934 Act, state securities laws, and the Internal Revenue Code.
b) will result from violation of the accountant-client privilege under federal law.
c) is not an option under securities law, there is only civil liability.
d) may result in fines but not imprisonment from violation of the federal securities laws.

Which one of the following is an example of systematic risk?

A. A city imposes an additional one percent sales tax on all products.
B. A flood washes away a firm's warehouse.
C. Investors panic causing security prices around the globe to fall precipitously.
D. Corn prices increase due to increased demand for alternative fuels.
E. A toymaker has to recall its top-selling toy.

Using the internal rate of return method, a project is rejected when the rate of return is greater than or equal to the required rate of return.(True or False)

What is the effect of bad debts on revenue recognition?

What type of account is Allowance for Bad Debts?

Massey Corporation purchased a piece of land for $50,000. Massey paid attorney's fees of$5,000 and brokers' commissions of $4,000 in connection with the purchase. An old building on the land was torn down at a cost of$2,000, and proceeds from the scrap were $500. How much is the total cost of the land?

a.$61,000
b. $50,000
c.$60,500
d. $59,000

How often can adjusting entries be journalized?

Which of the following statements about time-series forecasting is true?

A. It makes extensive use of the data collected in the qualitative approach.
B. Because it accounts for trends, cycles, and seasonal patterns, it is always more powerful than associative forecasting.
C. It is based on the assumption that the analysis of past demand helps predict future demand.
D. It is always based on the assumption that future demand will be the same as past demand.
E. All of the above are true.

What are the duties and responsibilities of a Bank Reconciliation Officer?

What is a bond indenture? What provisions are usually included in it?

Which of the following is an example of direct materials cost for an automobile manufacturer?

a. Cost of oil lubricants for factory machinery
b. Cost of wages of assembly worker
c. Salary of production supervisor
d. Cost of interior upholstery

a. Write a brief definition for the terms fiscal policy and monetary policy. b. How does the federal government try to solve economic problems?

In the development of the pro forma financial statements, the last step in the process is the development of the:

A) cash budget
B) pro forma balance sheet
C) pro forma income statement
D) capital budget

Which of the following statements is true regarding variable costing?

a. It is the required method for external financial reporting.
b. It includes direct materials, direct labor, and variable overhead costs in product costs.
c. It is not permitted to be used for managerial reporting.
d. It treats overhead in the same manner as absorption costing, it makes it easier to manipulate earnings with changes in production levels