Assets
Which of these are considered an asset from a company's perspective : land, debt, stocks
land
is a loan a liability?
Yes, a loan is a liability
what is the main certification exam for accountants?
CPA Exam
is inventory an asset?
Yes, inventory is an asset
When a company still needs to pay cash for a bill they received, is that bill a liability?
Yes, that bill is a liability
Accounting is the ____ of business
language
is a patent an asset
yes, a patent is an asset
What are the components on a balance sheet?
What is GAAP?
The legal standards for accounting practices
What is an intangible asset?
An asset that is not physical. Examples include intellectual property.
What are the two main types of stocks (by ownership rights)?
Preferred and Common Stock
Can you name one of the Big Four companies?
PwC, EY, Deloitte, KPMG
What is Goodwill?
an asset that represents the value of a brand name when that company is bought
Is an accounting year the same as a calendar year?
No, you can start in any months
How many credit hours do you need for CPA exam?
150