BUS-187 - Principles of Accounting II - Chapter 1

What year was the Sarbanes-Oxley Act enacted?

2002

Which of the following is false regarding strategic planning?

It is the sole responsibility of supervisors.

What is the law that protects investors from fraudulent financial accounting activity?

SOX

When a representative of an organization gives money to another business official in order to gain favor and/or manipulate a business decision, this is known as

bribery

Which of the following terms means the ability to work in cross-functional teams in order to complete a task?

collaboration

Which of the following is a primary aspect of the evaluating function within an organization?

comparing actual results against expected results for products, departments, divisions, or the company as a whole

The Certified Financial Analyst (CFA) certification:

consists of three separate exams that must be taken in succession

Management accounting:

emphasizes special-purpose information

External users of accounting information would include

investors

The managers of an organization are responsible for performing several broad functions. They are

planning, controlling, and evaluating

The stockholders of a company are:

the owners