Question 1

In the accounting profession the initials CPA stand for:

Accepted Answer

A)  Complying Practicing Accountant. 
B)  Company Professional Accountant. 
C)  Certified Practising Accountant. 
D)  Certified Professional Accountant. 
A)  Complying Practicing Accountant. 
B)  Company Professional Accountant. 
C)  Certified Practising Accountant. 
D)  Certified Professional Accountant.

Question 2

Accounting is defined as the process of identifying, measuring, recording and __________ economic information to permit informed judgements and economic decisions by users of the information.

Accepted Answer

A)  observing 
B)  communicating 
C)  processing 
D)  certifying 
A)  observing 
B)  communicating 
C)  processing 
D)  certifying

Question 3

There are four steps in the accounting process. Which of the steps is most concerned with the classification and summarisation of financial data?

Accepted Answer

A)  Identification 
B)  Recording 
C)  Measurement 
D)  Communication 
A)  Identification 
B)  Recording 
C)  Measurement 
D)  Communication

Question 4

Which of these is not a requirement for full membership of either of the major Australian professional accounting bodies?

Accepted Answer

A)  A recognised degree. 
B)  Completion of the professional body's graduate program. 
C)  Government registration. 
D)  At least three years of supervised work experience. 
A)  A recognised degree. 
B)  Completion of the professional body's graduate program. 
C)  Government registration. 
D)  At least three years of supervised work experience.

In the accounting profession the initials CPA stand for:

Accounting is defined as the process of identifying, measuring, recording and __________ economic information to permit informed judgements and economic decisions by users of the information.

There are four steps in the accounting process. Which of the steps is most concerned with the classification and summarisation of financial data?

Which of these is not a requirement for full membership of either of the major Australian professional accounting bodies?

Financial Statements for Decision Making

Recording Transactions

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle Closing and Reversing Entries

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Control

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Performance Evaluation for Managers

Differential Analysis, Profitability Analysis and Capital Budgeting

Partnerships: Formation, Operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation, Disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Statement of Cash Flows

Analysis and Interpretation of Financial Statements

Filters

Exam 1: Decision Making and the Role of Accounting

In the accounting profession the initials CPA stand for:

Accounting is defined as the process of identifying, measuring, recording and __________ economic information to permit informed judgements and economic decisions by users of the information.

There are four steps in the accounting process. Which of the steps is most concerned with the classification and summarisation of financial data?

Which of these is not a requirement for full membership of either of the major Australian professional accounting bodies?

Financial Statements for Decision Making

Recording Transactions

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle Closing and Reversing Entries

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Control

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Performance Evaluation for Managers

Differential Analysis, Profitability Analysis and Capital Budgeting

Partnerships: Formation, Operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation, Disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Statement of Cash Flows

Analysis and Interpretation of Financial Statements

Filters