What term describes the rules by which financial transactions are classified?
A. accounting
B. bookkeeping
C. data integrity policies
D. financial management
A. accounting
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Sawaddee Enterprises began the year with total assets of $450,000 and total liabilities of $230,000 . If Sawaddee total liabilities increased by $31,000 and its owners' equity decreased by $53,000 during the year, what was the amount of its total assets at the end of the year?
a. $472,000 b. $242,000 c. $198,000 d. $428,000
Bonds whose indentures contain a provision which gives the issuing company the option to retire portions of the bond issue before maturity if it so desires, but the provision does not require the company to do so are called _____ bonds
a. callable b. refunded c. sinking fund d. serial e. convertible
Jules Renton, a financial accountant at Valkyrie Aviations, deals with the accounts Valkyrie has with the government. Valkyrie Aviations is in contract with the government to deliver a new bomber plane called Spearhead While reviewing the Spearhead account, Renton noticed that Valkyrie has been falsely billing the government for Spearhead's production. If Renton chooses to be a whistleblower and expose the scam to the government, what statute enacted by the Congress must he invoke?
A) Business Norms Act B) False Claims Act C) Sarbanes-Oxley Act D) Glass-Steagall Act
If you are using boilerplate content and templates created by your company, you
A) Never need to document the material. B) Always need to document the material. C) May need to document the material.