Question 1

Today much of the pressure on corporate executives to "cook" the books is driven by the desire to look good to Wall Street analysts and investors.

Accepted Answer

A) True 
 B)False

Question 2

External sources for collecting data are used because the cost is usually quite low.

Accepted Answer

A) True 
 B)False

Question 3

Describe the employment trends for accountants, auditors, and managers in the accounting profession between now and the year 2020. Then describe what skills employees must have in order to be successful in the accounting profession.

Accepted Answer

The employment trends for accountants, a...

Question 4

According to the accounting equation, cash, inventory, equipment, and real estate are classified as owners' equity.

Accepted Answer

A) True 
 B)False

Question 5

Resources that a firm owns are classified as assets.

Accepted Answer

A) True 
 B)False

Question 6

Regina owns and operates her own bakery and coffee shop. Regina has no accounting training and has only three employees. How does she most likely handle the necessary accounting for her business?

Accepted Answer

A)   She does it herself because it takes little training or knowledge.
B)   She hires a private accountant to work for her and take care of the accounting functions.
C)   She has one of her part-time chefs do the accounting when he has time.
D)   She pays a public accountant to do the accounting for her business.
E)   She does nothing at all, because accounting is not necessary for businesses.F) B) and E)
G) A) and D)

Question 7

Individuals or organizations outside of a company will never have the need or desire to view information on another company's finances.

Accepted Answer

A) True 
 B)False

Question 8

Information rules are sometimes referred to as the great simplifiers.

Accepted Answer

A) True 
 B)False

Question 9

A person who wishes to practice accounting as a CPA must pass an exam prepared by the American Institute of Certified Public Accountants (AICPA).

Accepted Answer

A) True 
 B)False

Question 10

An information technology officer is a middle- or lower-level manager who is responsible for maintaining a firm's information system.

Accepted Answer

A) True 
 B)False

Exam 17: Using Management and Accounting Information

Today much of the pressure on corporate executives to "cook" the books is driven by the desire to look good to Wall Street analysts and investors.

Correct Answer
verified

An information technology officer is a middle- or lower-level manager who is responsible for maintaining a firm's information system.

Correct Answer
verified

External sources for collecting data are used because the cost is usually quite low.

Correct Answer
verified

Describe the employment trends for accountants, auditors, and managers in the accounting profession between now and the year 2020. Then describe what skills employees must have in order to be successful in the accounting profession.

Correct Answer
Answered by ExamLex AI
The employment trends for accountants, a...
View Answer

A person who wishes to practice accounting as a CPA must pass an exam prepared by the American Institute of Certified Public Accountants (AICPA).

Correct Answer
verified

Information rules are sometimes referred to as the great simplifiers.

Correct Answer
verified

Regina owns and operates her own bakery and coffee shop. Regina has no accounting training and has only three employees. How does she most likely handle the necessary accounting for her business?

Correct Answer
verified

According to the accounting equation, cash, inventory, equipment, and real estate are classified as owners' equity.

Correct Answer
verified

Resources that a firm owns are classified as assets.

Correct Answer
verified

Individuals or organizations outside of a company will never have the need or desire to view information on another company's finances.

Correct Answer
verified

Exam 17: Using Management and Accounting Information

Today much of the pressure on corporate executives to "cook" the books is driven by the desire to look good to Wall Street analysts and investors.

Correct AnswerverifiedShow Answer

An information technology officer is a middle- or lower-level manager who is responsible for maintaining a firm's information system.

Correct AnswerverifiedShow Answer

External sources for collecting data are used because the cost is usually quite low.

Correct AnswerverifiedShow Answer

Describe the employment trends for accountants, auditors, and managers in the accounting profession between now and the year 2020. Then describe what skills employees must have in order to be successful in the accounting profession.

Correct AnswerAnswered by ExamLex AIThe employment trends for accountants, a...View AnswerShow Answer

A person who wishes to practice accounting as a CPA must pass an exam prepared by the American Institute of Certified Public Accountants (AICPA).

Correct AnswerverifiedShow Answer

Information rules are sometimes referred to as the great simplifiers.

Correct AnswerverifiedShow Answer

Regina owns and operates her own bakery and coffee shop. Regina has no accounting training and has only three employees. How does she most likely handle the necessary accounting for her business?

Correct AnswerverifiedShow Answer

According to the accounting equation, cash, inventory, equipment, and real estate are classified as owners' equity.

Correct AnswerverifiedShow Answer

Resources that a firm owns are classified as assets.

Correct AnswerverifiedShow Answer

Individuals or organizations outside of a company will never have the need or desire to view information on another company's finances.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
The employment trends for accountants, a...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified