Identify several opportunities in accounting and distinguish between private accounting and public accounting.
What will be an ideal response?
The four broad areas of accounting are financial accounting, managerial accounting,
taxation and other accounting related employment. The majority of the employment
opportunities are in private accounting where employees work for businesses. Private sector jobs
would include general accounting, taxation, budgeting, and cost accounting activities. Public
accounting offers opportunities to perform work such as auditing, tax services, and consulting.
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Which of the following is true of Section 11 of the Securities Act of 1933?
A) It permits injured private parties to bring criminal action against fraudulent registration statements filed by issuers. B) It imposes liability on those who are negligent in not discovering the fraud. C) It allows an issuer to assert a due diligence defense against the imposition of Section 11 liability. D) It cannot be imposed on cases involving negligent omission of a material fact in a registration statement.
At a broad level, a(n) ________ includes anything an employee values and desires that an employer is able and willing to offer in exchange for employee contributions.
A. competency-based pay system B. merit-pay method C. organizational reward system D. employee stock-ownership plan
Senator Brown and other politicians want to restrict the flow of technologically advanced products and data from the United States to other countries. To restrict or encourage exports, Congress can
a. do nothing. b. assess antidumping duties. c. impose export taxes. d. set export quotas.
The three primary bases for developing prices are
A. profit, demand, and competition. B. supply, demand, and marketing objectives. C. demand, competition, and cost. D. markup, cost, and cost-plus. E. negotiation, periodicity, and randomness.