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MULTIPLE CHOICE QUESTIONS FROM BECKER CPA EXAM REVIEW 1-15 (OBJECTIVES 1-5, 1-6) The following questions deal with assurance services and types ofaudits. Choose the best response. a. Which of the following is considered an assurance engagement?(1) Bookkeeping(2) Preparation(3) Compilation(4) Audit b. Which of the following engagements is most likely to be considered an operational audit?(1) […]
DISCUSSION QUESTIONS AND PROBLEMS 1-16 (OBJECTIVE 1-5) The list below indicates various audit, attestation, and other engage-ments involving auditors.1. A report on the effectiveness of internal control over financial reporting as required by Section 404 of the Sarbanes–Oxley Act. 2. An examination report on whether a company’s statement of greenhouse gas emis-sions is presented in […]
TASK 1 Describe the nature of CPA firms and what they do. 2-2 Describe the structure of CPA firms. 2-3 Understand the role of the Public Company Accounting Oversight Board and the effects of the Sarbanes–Oxley Act on the CPA profession. 2-4 Summarize the role of the Securities and Exchange Commission in accounting and auditing. […]
Assignment Question(s): (Marks 15) Question 1: […]
Assignment Question(s): Question 1: Under the expenditure cycle ordering materials, supplies and services are the first activity. Explain the following ordering threats with suitable example with each of these. a) Purchasing at inflated prices b) Unreliable Suppliers c) Kickbacks Answer: Question 2: What are the advantages of the REA data model over the traditional […]
Cost-Volume-Profit Analysis 1.What is cost-volume-profit (CVP) analysis, and how is it used for decision making? Q2: How are CVP calculations performed for a single product? Q3: How are CVP calculations performed for multiple products? Q4: What assumptions and limitations should managers consider when using CVP analysis? Q5: How are the margin of safety and operating […]
The Cost Function Q1: What are the different ways to describe cost behavior? Q2: What process is used to estimate future costs? Q3: How are engineered estimates, account analysis, and two-point methods used to estimate cost functions? Q4: How does a scatter plot assist with categorizing a cost? Q5: How is regression analysis used to […]
The Role of Accounting Information in Q1 – What is the process of strategic management and decision making? Q2 – What types of control systems do managers use? Q3 – What is the role of accounting information in strategic management? Q4 – What information is relevant for decision making? Q5 – How does business risk […]
Assignment Question(s): Q1. Differentiate between Variable and Absorption costing with a suitable numerical example and explain what would be the changes in Net Operating Income under both the costing methods. Answer Q2. ABC prepares budgets for the quarter ending June 30. Sales in units: April 20,000, May 50,000, June 30,000, July 25,000. Selling price is […]
Assignment Question(s): A Zakat giver has an agricultural production at a market value of SAR 300,000. The zakat giver has no accounting books to count the actual production expenses. Assume the zakat receptacle reached the Nisab. Required: What is the zakat due in case of watering without cost? What is the zakat due in case […]
