ACC 556 ASSIST Empowering Inspiring/acc556assist.com

1
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
2
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 All Chapter Quizzes FOR MORE CLASSES
VISIT www.acc556assist.com   Please check the
details of Quizzes given under our product
section individually (all questions are mentioned
there)  ACC 556 Chapter 1 Quiz (100 Score)ACC
556 Chapter 2 Quiz (100 Score)ACC 556 Chapter 3
Quiz (100 Score)
3
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 1 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 1
Quiz Question 1 A business organized as a
separate legal entity owned by stockholders is a
partnership. Question 2   Accounting communicates
financial information about a business to both
internal and external users. Question 3   The
primary purpose of the statement of cash flows is
to provide information about the cash receipts
and cash payments of a company for a specific
period of time. Question 4
4
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 2 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 2
Quiz Question 1   Cash and supplies are both
classified as current assets. Question 2    
5
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 3 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 3
Quiz  Question 1 Economic events that require
recording in the financial statements are called
accounting transactions  Question 2 An account
is often referred to as a T-account because of
the way it is constructed.  Question 3 Revenues
are a subdivision of stockholders
equity.  Question 4 Salaries and wages payable
is a type of expense.  Question 5
6
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 4 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 4
Quiz Question 1 The revenue recognition principle
dictates that revenue be recognized in the
accounting period in which the performance
obligation is satisfied. Question 2 An adjusting
entry to a prepaid expense is required to
recognize expired expenses.
7
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 5 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 5
Quiz   Question 1   An advantage of using the
periodic inventory system is that it requires
less record keeping than the perpetual inventory
system. Question 2   The terms 2/10, net/30 mean
that a 2 percent discount is allowed on payments
made within the 10 days discount period. Question
3 Sales allowances and Sales discounts are both
designed to encourage customers to pay their
accounts promptly.
8
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 6 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 6
Quiz Question 1   Raw materials inventories are
the goods that a manufacturing company has
completed and are ready to be sold to
customers. Question 2   Goods held on consignment
should be included in the consignors ending
inventory   Question 3
9
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 7 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 7
Quiz Question 1   The most important element of
the fraud triangle is rationalization. Question
2   Requiring employees to take vacations is a
weakness in the system of internal controls
because it does not promote operational
efficiency. Question 3
10
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 8 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 8
Quiz Question 1   An aging of accounts receivable
schedule is based on the premise that the longer
the period an account remains unpaid, the greater
the probability that it will eventually be
collected. Question 2   Allowance for Doubtful
Accounts is a contra account that is deducted
from Accounts Receivable on the
11
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Chapter 9 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com   Chapter 9
Quiz Question 1   The statement of cash flows is
a required statement that must be prepared along
with an income statement, balance sheet, and
retained earnings statement. Question 2   The
activity from the balance sheet to be presented
in the financing activities section of the
statement of cash flows is based on an analysis
of stockholders equity only. Question 3
12
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Crooked Scenario 2 Part 1 FOR MORE
CLASSES VISIT www.acc556assist.com   Shortly
after you completed your work of unpacking all
the players in the CrookEd Partners drama and
identifying all potential fraudulent activity
that had been relayed to you (Week One Scenario
Assignment), your secretary came into your office
and said you had a visitor. You inquired who it
was and she said it was an accountant, C.H. Ainge
OHart (Chainge O Hart) from a local CPA firm,
Inn, Kaw, Hoots (IKH). You were familiar with
this firm and familiar with their reputation.
You also know they were the external auditors and
business advisors for CrookEd Partners, as
mentioned by Bubba. You immediately dropped
what you were doing and rushed out of your office
to meet Mr. Hart. He is
13
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Final Part 1 (100 Correct Answers) FOR
MORE CLASSES VISIT www.acc556assist.com   Final 
Part 1 Question 1   Under the corporate form of
business organization Question 2   Accountants do
not attempt to measure the change in a plant
asset's market value during ownership
because Question 3  
14
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Final Part 1 and 2 FOR MORE CLASSES
VISIT www.acc556assist.com   Final  Part
1 Question 1   Under the corporate form of
business organization Question 2   Accountants do
not attempt to measure the change in a plant
asset's market value during ownership
because Question 3   Budget reports provide the
feedback needed by management to see whether
actual operations are on
15
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Final Part 2 (100 Correct Answers) FOR
MORE CLASSES VISIT www.acc556assist.com   Final 
Part 2 Question 1   A manager of a cost center is
evaluated mainly on Question 2   Bogey Co.
recorded operating data for its Cheap division
for the year. Bogey requires its return to be
10. Sales                                      
           1,400,000Controllable
margin                                 
160,000Total average assets                      
       4,000,000Fixed costs                   
                          100,000 
16
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 1 Crooked Scenario 1 FOR MORE
CLASSES VISIT www.acc556assist.com   ACC 556
Week 1 Crooked Scenario 1
17
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 1 Sherlock Homes FOR MORE CLASSES
VISIT www.acc556assist.com   ACC 556 Week 1
Sherlock Homes
18
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 1 Short Answer Quiz FOR MORE
CLASSES VISIT www.acc556assist.com   INDIVIDUAL
ASSIGNMENT Complete the Week 1 Short Answer
Quiz. Click the Assignment Files tab to submit
your assignment as a Microsoft Word document. 1.
What is the Association of Certified Fraud
Examiners (ACEF) and what do they do? 2. Define
fraud.
19
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 WEEK 3 Assessing the Impact of Asset
Misappropriation FOR MORE CLASSES VISIT
www.acc556assist.com   INDIVIDUAL
ASSIGNMENT Write a 1,050 word paper on the impact
of asset misappropriation on an organization of
your choice. Include the following as headings
for your paper What was the fraud? Who
committed this fraud? Why did they commit this
fraud?
20
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 3 Crooked Scenario 3 FOR MORE
CLASSES VISIT www.acc556assist.com   1. Define
and describe Theft Act Investigative Methods. 2.
What is a Vulnerability Chart and how, when and
why is it used? 3. Define Invigilation and
discuss how, when and why it is used. 4. Discuss
the steps in obtaining electronic evidence.
21
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 4 Impact of Corruption FOR MORE
CLASSES VISIT www.acc556assist.com   Write a
1,250-1,400-word paper on the impact of
corruption on an organization of your choice in
APA format with in-text citations and
references. Include the following Who
committed this corruption? Why did they
commit this corruption? How did they
commit this corruption?
22
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 5 Comparing the Impact FOR MORE
CLASSES VISIT www.acc556assist.com   ACC 556
Week 5 Comparing the Impact
23
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 5 Crooked Scenario 5 FOR MORE
CLASSES VISIT www.acc556assist.com   ACC 556
Week 5 Crooked Scenario 5
24
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 5 Memorandum Proactive Method of
Fraud Detection FOR MORE CLASSES VISIT
www.acc556assist.com   INDIVIDUAL
ASSIGNMENT Write a 600-800 word memo to your
accounting committee on fraud detection
discussing the 6 steps of the Proactive Method of
Fraud Detection found in figure 6.1 of Chapter 6.
Include methods to gather
25
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 6 fraud symptoms and mitigation
FOR MORE CLASSES VISIT www.acc556assist.com   IN
DIVIDUAL ASSIGNMENT Prepare 7-10 Power Point
slides discussing common business fraud symptoms
and mitigation actions that can be taken to help
deter and detect fraud. Choose some elements
from Chapter 5 Recognizing the Symptoms of Fraud
to discuss in your presentation keeping with the
theme of the assignment. Please use the Notes
section below each PowerPoint slide to explain
your ideas clearly.
26
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com
ACC 556 Week 6 Short Answer Quiz FOR MORE
CLASSES VISIT www.acc556assist.com   Complete
the Week 6 Short Answer Quiz. Click the
Assignment Files tab to submit your assignment as
a Microsoft Word Document. Copy and paste the
questions onto a Word document. Write a brief
response using the information found in Chapter 4
and integrate it with what you have learned in
the course this semester. Submit your assignment
on the Assignments tab. What does it
mean to create a Culture of Honesty, Openness,
and Assistance? Give an example from an
organization with which you have been affiliated.
27
ACC 556 ASSIST Empowering Inspiring/acc556assist.
com