ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis
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An in-depth visual about creating responsive website designs that appeal to modern Internet users, improve engagement, and increase search engine rankings (SEO).
With an ever growing range of devices connecting to the internet and a variety of screen sizes available, there’s more pressure than ever to create websites that work well and look great no matter what device they’re being viewed on.
Responsive website design is the solution.
Responsive Web design simplifies the process of adapting your site to any screen size. This in turn will “future proof” your site for years to come. Users will have a much more satisfying experience when viewing your site, allowing you to focus on delivering your intended message. Your site’s search engine rankings will be improved, meaning that your site’s visibility will increase.
A modern website has the ability to reach your target audience in new and ever-changing ways. We will cover the recent trending website topics and discuss content creation, brand development, social media and other marketing strategies that support your Web presence efforts.
ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis
ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis
ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis
ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis
ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis
ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?
A. The public interest
B. Integrity
C. Quality control
D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A. financial connections with the client and financial connections with the client’s competitors.
B. acting as management and representing the shareholder’s interests.
C. responsibility for the client’s internal control and subordinating judgment concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis
SCI 256 Final Exam Answers
FINAL EXAM TEST
1. According to the Environmental Science text, the environmental statement of the
1990s was “saving our planet”. Is earth’s very survival really in danger?
A) no, because in the long view, the changes humans have made to earth will be
cleansed by natural processes
B) no, because sustainability refers only to the next 2 generations of humans
C) yes, because resources are becoming really sparse
D) yes, because energy will run out
E) none of these
2. The total amount of food produced each year worldwide is sufficient to feed all the
world’s people today. Why do famines nevertheless occur?
A) food production is insufficient in some local areas
B) logging destroys agricultural land
C) worldwide transportation of food is inadequate
D) severe local shortage of firewood affects the ability to cook
E) food production is insufficient in some local areas and worldwide
transportation of food is inadequ
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
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June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
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• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
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Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
1. ACC 544 Final Exam
Link : http://uopexam.com/product/acc-544-final-exam/
ACC 544 Final Exam Answers
1) Which is NOT one of the AICPA’s Code of Professional Conduct principl
es?
A. The public interest
B. Integrity
C. Quality control
2. D. Scope and nature of services
2) The ethical philosophy that considers the consequences of similar persons actin
g under similar circumstances is called
A. utilitarian principle.
B. imperative principle.
C. categorical imperative.
D. generalization argument.
3) The fundamental issues in independence require that the auditor avoid
A.
financial connections with the client and financial connections with the client
’s competitors.
B. acting as management and representing the shareholder’s interests.
C.
responsibility for the client’s internal control and subordinating judgm
ent concerning audit issues.
D. financial connections with the firm and acting as management.
4) Auditors have greater liability under the Securities Act of 1933. Which is the reas
on that this greater liability exists?
A. The auditor is liable for treble damages under the Securities Act of 1933.
B.
The plaintiff does not have to prove that the financial statements were misst
ated.
3. C.
The plaintiff does not have to prove that they relied on the financial statemen
ts.
D. The plaintiff does not have to prove that there were damages.
5) The legal doctrine that states that a successful plaintiff may recover the full amo
unt of damages from any defendant that
has the ability to pay is called
A. joint and several liabilities.
B. proportionate liability.
C. complete liability.
D. total liability.
6) The SEC regulation that governs disclosures in annual reports other than financi
al statements is the
A. Securities Act of 1933.
B. Securities Exchange Act of 1934.
C. Regulation S-X.
D. Regulation S-K.
7) Inspection of tangible assets provides evidence for which assertion?
A. Existence and occurrence
B. Completeness
C. Rights and obligations
4. D. Presentation and disclosure
8) The risk that the auditor may provide an inappropriate opinion based on their rev
iew of materially misstated
to as
A. audit risk.
B. detection risk.
C. information risk.
D. business risk.
9) Auditors perform the steps in which order?
A.
Determine audit risk; assess control risk; determine detection risk; and set m
ateriality.
B.
Set materiality; determine audit risk; assess control risk; and determine dete
ction risk.
C.
Set materiality; assess control risk; determine detection risk; and determine
audit risk.
D.
Determine audit risk; set materiality; assess control risk; and determine dete
ction risk.
10) An internal control questionnaire (ICQ) contains the question: “Does a s
ingle individual receive and list ca
to sales and general ledgers?” What action must an auditor take if the man
ager of accounting responds yes to the
5. A.
No action is required because yes responses on an ICQ indicate the presen
ce of good control.
B.
Statistically sample the response along with all other yes responses to verify
their accuracy.
C. Treat it as a potential control weakness and perform appropriate testing.
D. Include it with other reportable findings in the next audit report.
11) In addition to gaining an understanding of the internal controls, an external audi
tor, at minimum, is expect
A.
evaluate the internal auditors’ work as an important part of the accou
nting system element of the inter
B.
observe client employees to determine the extent of their compliance with q
uality control standards.
C.
trace a few transactions through the control process to obtain evidence that t
he controls have been pla
D.
study organization charts to obtain an understanding of the informal lines of
communication.
12) Which method provides the auditor with the best visual grasp of a system and a
means for analyzing complex o
A. A flowcharting approach
B. A matrix approach
6. C. A questionnaire approach
D. A detailed narrative approach
13) Which of the accounts is NOT included in the revenue and collection cycle?
A. Cash in bank
B. Raw materials
C. Accounts receivable
D. Bad debt expense
14) The most reliable evidence comes from
A. a positive confirmation.
B. a blank confirmation.
C. a negative confirmation.
D. examining a sales invoice.
15) Custody is transferred from the warehouse to the shipping department upon au
thorization of the
A. shipping order.
B. purchase order.
C. customer order.
D. invoice.
16) An enlightened management may decrease the probability of fraud in the comp
any best by
7. A. restricting authority for profit objective determination to top management.
B. stressing negative observations on their work to increase performance.
C. measuring performance and awarding bonuses on the basis of short-
term operating results.
D.
establishing work teams that share responsibilities, performance, and bonus
es based on collective effor
17) A proof of cash is normally used
A. for all engagements.
B. when control risk for cash is low.
C. to test the transactions process when controls over cash are weak.
D. when lapping is suspected.
18) Which is an appropriate audit program step for the review of canceled checks f
or authorized signatures?
A. Compare the check date with the first cancellation date.
B.
Examine a representative sample of signed checks, and determine that the
signatures are authorized in t
C.
Determine that all checks are to be signed by an individual authorized by the
board.
D. Confirm the signatures from a sample of checks directly with the bank.
19) The production authorization starts with a
A. purchase order.
8. B. sales forecast.
C. production plan.
D. bill of materials.
20) Which is NOT recognized by GAAP as appropriate for determining inventory co
st?
A. FIFO
B. Weighted average
C. LIFO
D. Standard costs
21) Inventory must be recorded when
A. the company has title to it.
B. the related revenue is recognized.
C. it is received.
D. it is shipped from the vendor.
22) Canceling invoices with a paid stamp after payment is a control that relates to
which assertion?
A. Existence or occurrence
B. Rights and obligations
C. Completeness
D. Valuation or allocations
9. 23) Which is NOT a step in the search for unrecorded liabilities?
A. Examine the open purchase order file.
B. Examine the unmatched receiving reports.
C.
Examine disbursements for the period immediately before the end of the per
iod.
D. All of these are steps in the search.
24) Which control question relates to the existence and occurrence objective in pur
chasing and accounts payable?
A.
Are the purchase order forms prenumbered and is the numerical sequence c
hecked for missing documents?
B.
Does the chart of accounts and accounting manual provide instructions for cl
assifying debit entries?
C. Does the accounting department check invoices for mathematical accuracy?
D. Are receiving reports prepared for each item received?
25) Which audit objective is related to the assertion that all transactions and accou
nts must be included in the
A. Existence or occurrence
B. Presentation and disclosure
C. Rights and obligations
D. Completeness
10. 26) Which best describes the main reason independent auditors report on manage
ment’s financial statements?
A.
A management fraud may exist, and it is likely to be detected by independen
t auditors.
B.
The management that prepares the statements may have a poorly designed
system of internal control.
C.
The management that prepares the statements and the persons who use th
e statements may have conflicting
D.
Misstated account balances may be corrected as the result of the independe
nt audit work.
27) The audit objective that all footnotes have been included in the financial statem
ents is related most closel
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