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9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] In the context of strategic reasoning, if an auditor only follows the established audit plan and does not consider other factors relating to the auditee, then this is an example of which of the following? [Answer] | Zero-order reasoning | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] In recent years, many SEC investigations have taken place on improper issuance of stock options to corporate excutives. These pratices increase excutive compensation at the expense of shareholders. This practice is known as: [Answer] | Backdating stock options. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] What are some common revenue-related financial statement fraud schhemes? [Answer] | fictitious sales, recognizing revenues too early, overstating real sales, understating the allowance for doubtful accounts, not recording returned goods from customers, not writing off uncollectible receivables | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] What are some possible ways to proactively search for revenue-related financial statment fraud schemes? [Answer] | analyze financial balances and relationships within the financial statements, compare financial statement amounts and relationships with nonfinancial statement amounts, compare balances and relationships with those of similar firms in the same industrie | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Why is it important to follow up revenue related fraud symptoms [Answer] | because we will never know for sure if fraud is occurring without additional follow-up. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] what are some of the most common inventory-related financial statement fraud schemes? [Answer] | recording purchases too late, not recording purchases, overstating purchase returns, recording purchase returns in an earlier period than when actually returned,not writing off or writing down obsolete inventory, over-counting inventory, | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] What are some ways to proactively search for inventory-related financial statement fraud schemes? [Answer] | look for unusual changes in the inventory and cost of goods sold account balances from period to period, looking for unusual changes in inventory and cost of goods sold relationships from period to period, company with those of similar firms | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] What are common-size financial statements? [Answer] | balance sheets and income statements converted to percentages | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Why do you suspect the revenue-related financial statement fraud schemes are most common and inventory-related fraud schemes are next most common? [Answer] | debiting Accounts Receivable and crediting Revenues and you have increased assets, revenues, and income, Inventory and cost of goods sold frauds are also common because they are also easy to perpetrate. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] What is the effect on net income of not recording sales return? [Answer] | total revenues and net income are overstated. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] What is the effect on net income of overstating ending inventory? [Answer] | cost of goods sold is understated, with gross margin and net income becoming overstated. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] How can comparing statement amounts with actual asstes help determine if fraud is present? [Answer] | When we compare financial statement amounts with actual amounts, it usually makes the numbers become much more real. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] The most common accounts manipulated when perpetrating financial statement fraud are: [Answer] | Revenues | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Why might a company want to understate net income? [Answer] | To pay less taxes | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Reported revenue and sales account blances that appear too high are examples of: [Answer] | Ananlytical symptoms | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Horizontal analysis is a method that: [Answer] | Examines percent changes in account balances from period to period. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Recording fictitious receivables will usually result in a(n): [Answer] | Increase in the number of days in receivables. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Comparing recorded amounts in the financial statements with the real-world assets they are supposed to represent would be most effective in detecting: [Answer] | Cash and Inventory fraud. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Lifestyle symptoms are most effective with: [Answer] | Employee fraud | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Which of the following is not an inventory-related documentary symptom? [Answer] | Missing inventory during inventory counts. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] When looking for inventory fraud, an important qustion to ask is: [Answer] | All, What is the nature of inventory, What is the age of inventory,What is salability of inventory. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Which of the following ratios would not generally be used to look for inventory- and cost of goods sold-related frauds? [Answer] | Accounts payable turnover | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] In order to analyze financial statement for fraud, an auditor or fraud examiner should consider all of the following except: [Answer] | All, types of accounts should be included in financial satements, fraud suseceptible, nature business | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Last-minute revenue adjustments, unsupported balance sheet amounts, and improperly recorded revenues are exampoles of: [Answer] | Documentary symptoms | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Accounts that can be manipulated in revenue fraud include all of the following except: [Answer] | Inventory | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Which financial ratio is not useful in detecting revenue-related fraud? [Answer] | All, Gross profit margin ratio, accounts recevable turnover ratio, asset turnover ratio | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] The asset tunover ratio measures: [Answer] | Sales that are generated with each dollar of the assets. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] The most common way to overstate revenues is to: [Answer] | Create fictitious revenues | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Which of the following is a possible scheme for manipulating revenue when foods are accepted from customers? [Answer] | Avoid recording of returned goods from customers. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] All of the following ratios are useful in detecting large frauds except: [Answer] | Current ratio | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Each of the following illicit revenue transactions is correctly linked with the financial statement accounts involved except: [Answer] | Don't write off uncollectible receivalbes-Sales returns, Sales Discounts. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Identify which ratio is correctly linked to the information it could reveal about the company's potential for revenue fraud. [Answer] | Gross profit margin-this ratio will increase if management overstates inventory. | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Which of the following is a common way to perform financial-statement analysis while searching for revenue-related analytical symptoms? [Answer] | Look for unusal changes in revenue-related account balances from period to period, revenue related account balances from period to period( trends) | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
9d8aa0aa_Flashcards_about_Fraud_Exam_3__Answer | [Question] Primarily occurring at the end of the year in an attempt to inflate sales, the practice of shipping more items to distributors than they can sell in a resonable time period is known as: [Answer] | Channel stuffing | [] | Flashcards about Fraud Exam 3 | Answer | http://www.studystack.com/flashcard-1216519 | 43/1438042989042.37_20150728002309-00325-ip-10-236-191-2_732422650_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Autism, Deaf-Blind, Emotional Disturbance/Behavioral D/O, Hearing Impaired, Mental Retardation, Multiple Disabilities, Orthopedic Impaired, Other Health Impaired, Specific LD, Speech/Language Impaired, Traumatic Brain Injury, Visual Impaired [Question] | 12 disability categories | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Autism [Question] | Syndrome related to neurological function that is evidenced by deficits in social interactions, communications, and patterns of behavior; associated with PDD or ASD; various D/O in this group are differentiated by age of onset and severity of symptoms. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Emotional Disturbance/Behavioral D/O [Question] | Includes both auditory and visual disabilities that are the cause of severe communication deficits and other learning problems; individual may need a combination of supplementary assistance. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Hearing Impaired [Question] | A condition that may adversely affect the educational performance of students and includes deafness and hard of hearing. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Mental Retardation [Question] | An individual with significant subaverage general intellectual functioning concurrently with deficits in ADAPTIVE BEHAVIOR manifesting during the developmental period and adversely affecting performance. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Orthopedic Impairment [Question] | A physical impairment, caused by such conditions as genetic anomalies, diseases, and trauma, which adversely affect a student's educational performance. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Other Health Impairment [Question] | Related to diseases or chronic health conditions a student with limited strength, vitality, or alertness that adversely affects educational performance. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Specific Learning Disability [Question] | A D/O in one or more of the basic psychological processes involved in understanding or in using language and may manifest itself in an imperfect ability to listen, think, speak, read, write, spell, or do math. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Speech/Language Impairment [Question] | Communication D/O that affect the educational performance in an adverse manner, including stuttering, impaired articulation, language impairments, or voice impairments. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Traumatic Brain Injury [Question] | An injury to the brain caused by external physical force resulting in functional disability or psychosocial impairments that adversely affects educational performance and doesn't include brain injuries that are congenital, generative, or birth induced. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Visual Impairment [Question] | Includes any impairment of vision that, even with correction, adversely affects a student's educational performance. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
3897a7e9_rds_about_PRAXIS_II___353_SPED__Question | [Answer] Gifted or Talented [Question] | Icludes students with high performance or abilities in general intellect, specific academic aptitude, creative or productive thinking, leadership, performing arts, and psychomotor abilities. | [] | Flashcards about PRAXIS II - 353 SPED | Question | http://www.studystack.com/flashcard-414405 | 43/1438042989042.37_20150728002309-00188-ip-10-236-191-2_726605820_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Assumes that the life of a business is expected to continue into the foreseeable future. [Answer] | Going Concern | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Has service potential or future economic benefit Is controlled by the entity, As a result of a past transaction. [Answer] | Asset | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Is a reduction in assets or increases in liabilities, other than drawings, which decrease owner’s equity [Answer] | Expense | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Is a future sacrifice of assets That the entity is currently obliged to make • As a result of a past transaction [Answer] | Liability | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Inflows of cash other assets, or reductions in liabilities other than those relating to contributions by owners, which result in an increase in owner’s equity [Answer] | Income | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Assumes that the business’ life may be divided into regular time periods to measure its financial position and provide timely information for decision making [Answer] | Period Reporting | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Transactions are recorded at the amount of cash paid or payable at the time of the transaction [Answer] | Historical Cost | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] States that all transactions are recorded in dollar terms [Answer] | Monetary Measurement | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] The effects of transactions are recognised when they occur and are reported in the financial statements of the periods to which they relate [Answer] | Accrual Accounting | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] States that the financial affairs of an entity must be kept separate from the financial affairs of the owner and other entities [Answer] | Accounting Entity (notion) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Interested in the business information to make sure that the business is making a profit and will continue in business. To see if the business has enough security so can raise a bank loan if needed for expansion. read the Financial Statements, profit. [Answer] | Owners information needs (user) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Interested in information that enables them to determine whether their loans and the interest, will be paid when due. Is their sufficient assets for security for a loan? Does the business have a good credit history and rating? [Answer] | Lenders information needs (user) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Suppliers are interested in information that enables them to determine whether amounts owing to them will be paid on time. [Answer] | Suppliers/creditors information needs (user) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Income Divided into revenue and other income Expenses Divided into ‘group 1’ or distribution costs Administrative expenses and Finance Costs are components of what statement? [Answer] | Components of Income Statement | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Components Receipts Payments Net increase/decrease in cash for the period Opening bank balance Closing bank balance are components of what statement? [Answer] | Components of a cash budget | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Current assets, Non current assets, Property plant and equipment, investment assets, intangible assets, current liabilities, non current liabilities, equity are components of which statement [Answer] | Components of Statement of financial position. | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Expenditure whose benefits are consumed (used up) in the current period. They are costs incurred to earn revenue and affect the year’s profit and owners’ equity. E.g paid rates, insurance, registration. [Answer] | Revenue Expenditure | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Expenditure on items that will benefit the business beyond the current financial period. It creates an asset and does not affect Equity. Eg purchase of building, installing new equipment, improvements to an existing asset that extends its useful life [Answer] | Capital Expenditure | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Depreciation is the systematic allocation of the depreciable amount(cost) of an asset over its useful life. [Answer] | Depreciation | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Assumes the use (consumption) of economic benefits the asset can provide occurs evenly over its useful life eg The wear and tear on the outside of a Building is consistent each accounting period. [Answer] | Straight line depreciation method | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Assets – liabilities The residual interest in assets after deducting all liabilities of an entity at any point of time. [Answer] | Equity | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Profit is an increase in the net assets of a business which is not attributable to contributions by the owners. [Answer] | Profit | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] (owner) is a one person owned business that solely responsible for everything in the business, all finance, all risk, all profit. They can lose all their property paying for debts. [Answer] | Sole Proprieter | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] (owners) are two or more people that are jointly and separately responsible for the debts, and share the profit, financing, work and risk. [Answer] | Partnership | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] (Shareholders) that can sell shares to raise finance, profit is shared by dividends. Has one or more directors, succession is possible. Limited liability (ltd) the risk is limited to the amount of investment (shares) they have invested. [Answer] | Company | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] a group of members(owners) who make money to provide services to its members or recipients, Finance is gained from subscriptions, donations and grants, profits/surplus is distributed services NOT money. Must be audited. [Answer] | Not for profit (Community Organisation) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] (community organisation) protects debts from members. [Answer] | Incorporated Society (Community organisation) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] (community organisation) does not protect debts or the organisation from its members. [Answer] | Unicoporated Society (community Organisation) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] The purpose is to assist users in making financial decisions. [Answer] | Accounting | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Assets whose future economic benefit will be consumed within one accounting period. [Answer] | Current Asset | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Assets that will be kept in the business so that the firm can operate in the future. These are the main income producing assets of the firm. Eg Buildings, Computers, Vehicles [Answer] | Property, plant and Equipment | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] These Assets generally produce income for the firm but are not the main income producing assets. [Answer] | Investment Asset | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Assets that have no physical presence but represent an investment by the firm. Eg Trademark, Patents [Answer] | Intangible Asset | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Expenses that are incurred in order to organise and run the business. These include all expenses that relate to the business premises. Eg rent, office salaries, telephone, general expenses, office wages, insurance, electricity, rates, accounting fees. [Answer] | Administration Expense | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Expenses that are incurred to gain finance. Eg.Interest [Answer] | Finance Cost | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Expenses incurred in order to increase sales and promote business. Eg Advertising, wages for door to door salesman. [Answer] | Distribution Cost | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Liabilities which we expect to be paid within the next accounting period. It will be necessary for us to have cash to meet these liabilities. Eg Short term bank loan and Accounts Payable. [Answer] | Accounts Payable | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] Liabilities which will be paid over a period of time beyond the next accounting period. Eg mortgages, hire purchase payments and long term loans [Answer] | Non Current Liabilities | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] If a transaction cannot be expressed in money values, it will not be recorded in the accounting records. For example, the number of years that the business has been trading will not appear in the financial statements of the business. [Answer] | Limitation of Financial Statements and Monetary measurement | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] When preparing the accounting records of a business we only include the business’ transactions and exclude those transactions of its owner. For example, the owner’s private car must not be included as a business asset. [Answer] | Accounting Entity | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] What type of Accountant that checks the accuracy of the financial statements and ensures that the business has met legal requirements. [Answer] | Auditor | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] What type of Accountant who Calculates the costs of the production of goods and helps to manage these costs. [Answer] | Cost Accountant | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] What type of Accountant who Prepares the accounting reports and analyses the results. [Answer] | Financial Accountant | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] What type of Accountant who Supervises the daily running of the accounting systems within the business. [Answer] | Management Accountant | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] What type of Accountants who are not fully qualified accountants but help the accountants in the processing of accounting information. [Answer] | Accounting Technician (AT) | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] What type of Accountant Advises a company of the current tax legislation and how much tax that they are required to pay. [Answer] | Taxation Accountant | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
545fbe18_rds_about_NCEA_11_Actg_concept__Answer | [Question] What is the Accounting equation [Answer] | Assets plus Expenses = liabilities plus owners equity plus Income | [] | Flashcards about NCEA 11 Actg concept | Answer | http://www.studystack.com/flashcard-1163463 | 43/1438042989042.37_20150728002309-00175-ip-10-236-191-2_749247971_3.json |
6b8b8bc4_hcards_about_english_irr__past__Question | [Answer] became [Question] | become | [] | Flashcards about english irr. past | Question | http://www.studystack.com/flashcard-554166 | 43/1438042989042.37_20150728002309-00180-ip-10-236-191-2_727711353_3.json |
6b8b8bc4_hcards_about_english_irr__past__Question | [Answer] began [Question] | begin | [] | Flashcards about english irr. past | Question | http://www.studystack.com/flashcard-554166 | 43/1438042989042.37_20150728002309-00180-ip-10-236-191-2_727711353_3.json |
6b8b8bc4_hcards_about_english_irr__past__Question | [Answer] bent [Question] | bend | [] | Flashcards about english irr. past | Question | http://www.studystack.com/flashcard-554166 | 43/1438042989042.37_20150728002309-00180-ip-10-236-191-2_727711353_3.json |
6b8b8bc4_hcards_about_english_irr__past__Question | [Answer] bet [Question] | bet | [] | Flashcards about english irr. past | Question | http://www.studystack.com/flashcard-554166 | 43/1438042989042.37_20150728002309-00180-ip-10-236-191-2_727711353_3.json |
6b8b8bc4_hcards_about_english_irr__past__Question | [Answer] bit [Question] | bite | [] | Flashcards about english irr. past | Question | http://www.studystack.com/flashcard-554166 | 43/1438042989042.37_20150728002309-00180-ip-10-236-191-2_727711353_3.json |
6b8b8bc4_hcards_about_english_irr__past__Question | [Answer] bled [Question] | bleed | [] | Flashcards about english irr. past | Question | http://www.studystack.com/flashcard-554166 | 43/1438042989042.37_20150728002309-00180-ip-10-236-191-2_727711353_3.json |
6b8b8bc4_hcards_about_english_irr__past__Question | [Answer] blew [Question] | blow | [] | Flashcards about english irr. past | Question | http://www.studystack.com/flashcard-554166 | 43/1438042989042.37_20150728002309-00180-ip-10-236-191-2_727711353_3.json |
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