1. Introduction to Accounting

Which of the following is NOT a purpose of financial statement analysis?

Which type of accounting focuses primarily on providing information to internal users, such as managers, for decision-making purposes?

Which of the following can use financial concepts to improve their decisions?

The following descriptions refer to taxes that are levied on the income or profits of individuals and businesses. What type of taxes are these?

When a corporation is sued and loses its case, what is the financial impact on the owners (shareholders)?

Which of the following concepts are pervasive in the application of auditing standards?

Which of the following intangible assets does training and development indirectly influence?

Which of the following is NOT a type of real property lien?

A sales commission is an example of a ________ compensation plan.

Which of the following is an example of a valid business entity?

Auditors from the Internal Revenue Service (IRS) sent to review a company’s tax records are primarily engaged in which type of accounting?

Which of the following is NOT a type of accounting commonly recognized in the field of financial accounting?

Which type of accounting is most directly concerned with applying the accounting number format, such as using the dollar sign and two decimal places, to financial statements?

Which of the following is an example of a fixed asset?

All of the following statements are true regarding group insurance except: