ACC 497 Final Exam

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ACC 497 Final Exam

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1) The uniform law, issued in 1984 by the Committee on Corporate Laws of the American Bar Association, that regulates the formation, operation, and termination of corporations is

2) Which of the following statements is true?

3) Which of the following statements is true?

4) What effect would a decrease in interest rates by the Federal Reserve most likely have in the nation’s manufacturing sector, all other factors remaining constant?

5) A table that shows the relationship between the price of a good and the quantity demanded of that good is called

6) If policymakers increase aggregate demand,
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The authority issues debt in its name, holds title to buildings in its name, and leases its building exclusively to the state. The authority would be considered a(n)

42) Revenues of a not-for-profit organization should be reported as

43) Financial statements for a church-supported college should be prepared according to standards set by the

44) For a not-for-profit hospital, which of the following financial statements is required?

45) What agency has the ultimate authority in defining independence for publicly traded companies?

46) A report on internal control effectiveness by management of public companies is required by which of the following:

47) Once sufficient predication has been established, what is the first step a fraud examiner following the fraud theory approach should take?

48) Which of the following best describes the objective of a fraud examination?

49) Damages intended to punish a defendant and deter the defendant and others from engaging in the same tortious conduct in the future are called

50) Where a contract calls for action that violates a statute, in a breach of contract case the court will

51) Ted’s Gifts and Sweets enters into a written contract with Bannon Candies to supply Ted’s with 60 boxes containing a dozen coconut clusters each month for sale to the public. The agreement contained an integration clause. Before the first delivery

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