I. The treasury function is in charge of financial reporting and compliance. II. Controllership is a staff function. A. Both statements are true. B. Both statements are false. C. Statement I is true; Statement II is false. D. Statement I is false; Statement II is true.
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II. Controllership is a staff function.
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- Which of the following statements is correct? I. Tax loss carrybacks result in deferred tax assets. II. Tax loss carryforwards result in deferred tax assets. III. The tax valuation account is used to adjust deferred tax liabilities if it is "more likely than not" that they will not result in increased future taxes. 1.I only 2.II only 3.III only 4.I and IITest I. TRUE or FALSE Instruction: In the statements below, write TRUE if it is correct or FALSE if the statement is incorrect. _1. Management reporting is a source of business intelligence that helps business leaders make more accurate, data-driven decisions. 2. The management report is a means of communicating essential information from low to high levels of management. _3. Management reporting consists of facts and significant data presented through written, oral and visual tools 4. Management reporting provides an insight about the departmental weakness through financial and non- financial data of a specified period. 5. The balance sheet convert large data into a simplified form for comparison purposes. _6. Different types of financial ratios are used for further analysis and representation of data. _7. Comprehensive reports are easy to understand, analyze and visually attractive. _8. Tables are reports prepared in a tabular form, indicating the present and planned performance of…Write A if only the first statement is correct. Write B if only the second statement is correct. Write C if both statements are correct. Write D if neither statement is correct. PLEASE ANSWER EACH ITEM
- Which of the following statements is CORRECT about perils in property insurance policies? a. a property insurance policy must contain a list of all covered perils. b. an HO-00-02 (HO-2) Form provides coverage for more perils than a HO-00-03 (HO-3) Form c. a peril is defined as the cause of loss d. a peril increases the chance of lossWhich of the following is NOT a factor in an individual behavior? A. The values and character of the President of the ABC Company B. The beliefs, values and behavior of Finance Division C. The competition within an organization D. The submission of financial reports 2. In an investment, what do you call under diversification, holding onto losers, chasing winners, buying stocks that catch their attention, systematically ignoring important information, paying too little attention to fees and trading too much? A. Errors B. Biases C. Misinformation D. Basic trade4. If a shareholder wanted to know how money flowed into and out of the company, which financial statement would the shareholder use? A. income statement B. statement of cash flows C. statement of retained earnings D. balance sheet 5. The debit side of an account A. is the left side of the account B. can be either side of the account depending on how the accountant set up the system C. is the right side of the account D. depends on whether the account is an asset, liability, or stockholders' equity 6. The process of initially recording a business transaction is called A. journalizing B. correcting C. balancing D. posting
- Exactly one of these statements is false. Indicate which one. A. Boundaries and constraints are an effective way to monitor the legitimacy of external constituents. B.Boundaries and constraints are an etfective way to promote counterproductive behavior when employees lack a clear understanding of organizational goals. C. Boundaries and constraints are an efective way of focusing individual efforts on strategic priorities. D. Boundaries and constraints are an effective way to channel efforts into short term objectives and action plans as well as minimizing unethicalWhich of the following statements is true? a. It is better to be pre-qualified for a mortgage than to be pre-approved. b. It is better to be pre-approved for a mortgage that to be pre-qualified. c. It makes no difference if you are pre-qualified or pre-approved. d. Both pre-qualified and pre-approved mean the same thing. When you go to an open house, the realtor there a. works for the seller b. works for you c. won't talk to you if have your own realtor d. wants to make sure that you take some donuts home to your friends18. True or False? (With reference to Mintzberg's Managerial Roles) (a) When a manager is training new employees on how to do their jobs, he/she is performing the 'Monitor' role. (b) When a sales manager is sharing sales figures for the last quarter with his/her subordinates, the manager is performing the 'Resource Allocator' role. Only (b) is true Both statements are false Only (a) is true Both statements are true
- 45-Who among the following are secondarily responsible for prevention and detection of frauds? O a. All the options b. Nomination committee is secondarily responsible for prevention and detection of fraud O C. Auditor is secondarily responsible for prevention and detection of fraud O d. Management is secondarily responsible for prevention and detection of fraudWhich of the following statements is the most correct regarding errors and fraud? Select one: a. Auditors have more responsibility for finding fraud than errors b. Errors are always fraud and frauds are always errors c. An error is unintentional, whereas fraud is intentional d. Frauds occur more often than errors in financial statementsWhich of the following statements is CORRECT about perils in property insurance policies? OA. A property insurance policy must contain a list of all covered perils. OB. An HO-00-02 (HO-2) Form provides coverage for more perils than a HO-00-03 (HO-3) Form. A peril is defined as the cause of a loss. O. C. O D. A peril increases the chance of loss. 10 Recording
