ACC 499 Final Exam Strayer New 2015

Final Part 1 ACC 499 Capstone

Question 1

Current GAAP requires that the net gain or loss from a settlement or curtailment be included in the

Question 2

Because of significant government funding of benefits to retirees, it is likely that total pension costs are

Question 3

Vested benefits are

Question 4

The interest rate that may be used to compute the interest cost component of pension expense is equal to the

Question 5

Current GAAP defines the required calculations for all of the following items except

Question 6

GAAP for pension plans requires companies with defined benefit pension plans to

Question 7

The expense for other postretirement benefits, such as health care benefits, dental benefits, and eye care benefits, currently is accounted for

Question 8

A company’s net periodic pension cost (expense) includes all of the following items except

Question 9

A pension plan provides for future retirement income based on the employee’s income and length of service with the company. This type of pension plan is termed a

Question 10

Viewing information that passes along a network communication channel is referred to as:

Question 11

Which is the most secure method of computer authorization?

Question 12

In an electronic environment, no other control can better prevent fraud than the wise use of:

Question 13

Which of the following uses features of the human body to create secure access controls?

Question 14

Spoofing is which of the following?

Question 15

Traditional ___ reduces the risk of falsified identity.

Question 16

Locks on the doors to the computer room, is an example of which electronic control?

Question 17

Specific fraud risks to conducting e-business include:

Question 18

Phillips Corp. purchased raw materials with a catalog price of $60,000. Credit terms of 3/15, n/60 apply. If Phillips uses the net price method, the purchase should be recorded at

Question 19

An American company purchasing goods from a foreign supplier has to account for differences in currencies. This process is made easier

Question 20

A retail firm would normally use an inventory account titled

Question 21

IFRS do not allow the use of LIFO because it

Question 22

When comparing the lower of cost to market

Question 23

Which of the following items would not be used in the calculation of the cost-to-retail ratio if the FIFO retail inventory method were used to determine the ending inventory?

Question 24

The most common approach to implementing the lower of cost or market rule for inventory valuation is to apply it

Question 25

When applying lower of cost or market, market value

 

Final Part 2 ACC 499 Capstone

Question 1

The AICPA Principles of Professional Conduct include which of the following?

Question 2

Which one of the following is an example of a conflict of interest for a CPA?                                                        

Question 3

Which of the following represents a situation in which an auditor is independent of the client?

Question 4

In which of the following situations would a CPA not be considered independent?

Question 5

The ethical framework derived from utilitarianism and rights theories indicates all of the following steps except                                                

Question 6         

Which of the following is included in the AICPA Code of Professional Conduct?

Question 7         

Normally the auditor is not permitted to divulge confidential information obtained from a client. Which of the following situations would be a violation of this requirement?

Question 8

A member of the AICPA must safeguard the confidentiality of client information. Auditors, however, must disclose information to non-clients for the following reasons except to:

Question 9

Which of the following is a preventive control?

Question 10

An accounting system that maintains an adequate audit trail is implementing which internal control procedure?

Question 11

When duties cannot be segregated, the most important internal control procedure is

Question 12

The concept of reasonable assurance suggests that

Question 13

The most cost-effective type of internal control is

Question 14

The fundamental difference between internal and external auditing is that                                                            

Question 15

Substantive tests include

Question 16

The decision to extend credit beyond the normal credit limit is an example of

Question 17

Control risk is

Question 18

Which of the following represent temporary book-tax differences?

Question 19

North, Inc., earns book net income before tax of $500,000 in 2010. In computing its book income, North deducts $50,000 more in warranty expense for book purposes than allowed for tax purposes. North has no other temporary or permanent differences. Assuming the U.S. tax rate is 35% and no valuation allowance is required, what is North’s deferred income tax asset reported on its financial statements for 2010?

Question 20

How are deferred tax liabilities and assets categorized on the balance sheet?

Question 21

Hot, Inc.’s primary competitor is Cold, Inc. When comparing relative deferred tax asset and liability accounts with Cold, which of the following should Hot do?

Question 22

Paint, Inc., a domestic corporation, owns 100% of Blue, Ltd., a foreign corporation and Yellow, Inc., a domestic corporation. Paint also owns 40% of Green, Inc., a domestic corporation. Paint receives no distributions from any of these corporations. Which of these entities’ net income are included in Paint’s income statement for current year financial reporting purposes?

Question 23

Nocera, Inc. earns book net income before tax of $600,000 in 2010. Nocera acquires a depreciable asset in 2010 and first year tax depreciation exceeds book depreciation by $120,000. Nocera has no other temporary or permanent differences. Assuming the U.S. tax rate is 35%, what is Nocera’s total income tax expense reported on its financial statements for 2010?

Question 24

Which of the following items are not included in the income tax note for a publicly traded company?

Question 25

Larson, Inc., hopes to report a total book tax expense of $160,000 in the current year. This $160,000 expense consists of $240,000 in current tax expense and an $80,000 tax benefit related to the expected future use of an NOL by Larson. If the auditors determine that a valuation allowance of $30,000 must be placed against Larson’s deferred tax assets, what is Larson’s total book tax expense?

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Course Home Work, ACC 499 Final Exam Strayer New 2015 Part-1 and Part-2, Home Work Tutorials, Home Work Solutions, Home Work Essay, Home Work Questions.ACC 565 Wk 7 Assignment 3, ACC403 w4ek 2 assignment, ACC565 Week 10, ACCT 212 (Financial Accounting),  ACCT 344 (Entire Course) – Devry, ACCT 344 Final Exam Latest 2014 – Devry,  ACCT 346 (Managerial Accounting), ACCT 346 Midterm Exam Updated DeVry, ACCT 504, ACCT 504 Week 8, ACCT 553, ART 101 Week 8, Ashford BUS 401, ASHFORD BUS 640, Ashford HIS 204, ASHFORD MAT 222 Week 3, BA 215 (Business Statistics), BA 215 All Assignments Week 1 -8 – Grantham, BA 225, BA 260, BA 265 (Business Law II), BA 265 (Business Law II) FINAL EXAM, BA 340 All Course Assignments, BA 340 Human Resource, BA 370 (Employment Law), BA 405 Multinational Management, BA 470 Week 3 – 5 – 6 – 7, BA 470 Entrepreneurship, BA350 Principles Of Finance, BIS 155 Final Exam – DeVry, BIS 220 Final Exam, BSOP 429, BSOP 434 Entire Course – Devry, BUS 303 Week 2, BUS 303 Week 3, BUS 303 Week 5, BUS 311 Business Law, BUS 330 Week 1, BUS 330 Week 3, BUS 330 Week 5, BUS 401 Week 4 DQ 1, BUS 401 Week 4 DQ 2, BUS 402 WEEK 4, BUS 405 (Principles of Investment), BUS 475, BUS 475 Final Exam 100 MCQS, BUS 475 Final Exam 600 MCQS, BUS 599 (STRAYER), BUS 599 Assignment, BUS 620 Week 4, BUS 640 Week 1, BUS499 Asignment 4, BUS508 Asignment 1, BUS499 Assignment 3.

 

 

ACC 499 Final Exam Strayer New 2015