A static budget contains which of the following amounts?
(A)Actual costs for actual output.
(B)Actual costs for budgeted output.
(C)Budgeted costs for actual output.
(D)Budgeted costs for budgeted output.
When can I take the CPA Exam
The CPA Exam is offered four times each year: January 1 – March 10, April 1 – June 10, July 1 – September 10 and October 1 – December 10.
GAAP refers to: Mark one answer:
(A)General accounting assistance program (B)Generally accepted accounting principles (C)Generally acceptable account procedures (D)The theory that accounting and the general public look at financial statements differently
Correct Answer: B
Which of the following transactions have a negative impact on cash? Mark one answer:
(A)A decrease in supplies on hand (B)Proceeds from selling equipment used in the business (C)A loss on selling equipment used in the business (D)Dividends declared and paid (E)An increase in income taxes payable
Correct Answer: D
More CPA Exam Questions
- 1What is the difference between a balance sheet and a trial balance? Mark one answer:
- 2Another name for an income statement is a: Mark one answer:
- 3If Jenny's Bakery purchased an insurance policy, assuming the accrual accounting method is still being used, when would the company report the cost of the policy as an expense?
- 4A government internal audit function is presumed to be free from organizational independence impairments for reporting internally when the head of the organization
- 5What are the number of shares Jet should use to calculate Year 1 earnings per share?