These are economic resources with the ability or potential to provide future benefits
What are assets?
100
This government agency has the authority to set acceptable accounting methods in the U.S.
What is the SEC?
100
This cost remains the same across a range of units of product produced
What are Fixed Costs?
200
Before sitting for the exam, you must have this many college credits
What is 150?
200
This company is well known as a global leader in CPA Exam review prep
What is Becker?
200
When revenue is greater than expenses
What is Net Income?
200
This is what AICPA stands for
What is the American Institute of Certified Public Accountants?
200
Earnings that a firm realizes in excess of dividends are called what
What are Retained Earnings?
300
Once obtaining your CPA licence, you still have to complete these yearly requirements to maintain your certification
What is Continuing Professional Education (CPE)?
300
These are the three service lines of public accounting
What are Assurance, Tax and Advisory?
300
Assets - Liabilities
What is Shareholder's Equity?
300
This is what the accounting acronym G.A.A.P stands for
What is Generally Accepted Accounting Principles?
300
This date was the 2016 IRS Tax Filing deadline
When is April 18th?
400
You can enter into this program here at BGSU to meet the credit hour requirement to sit for the CPA Exam
What is the Master of Accountancy (MAcc) program?
400
This "season" starts around mid-January and lasts through March for auditors. For tax accountants, it lasts all the way until April 15th
What is Busy Season?
400
This financial statement shows the results of the operating activities of a firm for a specific period of time
What is the Income Statement?
400
This nonprofit corporation was established to oversee the audits of public companies in order to protect the interest of investors
What is the Public Company Accounting Oversight Board (PCAOB)?
400
This is the name for a cost that has already been incurred and cannot be recovered
What is a sunk cost?
500
These are the four sections of the CPA Exam
What are Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG)?
500
These are the general 4 positions in Public Accounting
What is Staff/Associate, Senior, Manager, and Partner/Director?
500
In the annual report, a financial statement reader would find out if the company’s financial statements give a fair representation of its financial position in this area.
What is the Auditor's Report?
500
This act of 2002 introduced major changes to the regulation of financial practice and corporate governance
What is the Sarbanes-Oxley Act (SOX)?
500
One criterion for a capital lease is that the term of the lease must equal this minimum percentage of the leased property's economic life at the inception of the lease.