Audit & Accounting
Which of the follow account types normally has a debit balance:
Assets, Revenue, or Expenses?
What are Expenses?
This term means the general rise in prices over time.
What is inflation?
This show is set in Scranton and features a paper company.
What is The Office?
How many months have 28 days?
What is all of them?
In the NBA, an overtime period lasts this many minutes.
What is 5 minutes?
This concept assumes a company will continue operating into the foreseeable future and is critical in financial statement preparation.
What is going concern?
GDP stands for this.
What is Gross Domestic Product?
In Breaking Bad, this fast-food chain is used as a front for Gus Fring’s illegal operations.
What is Los Pollos Hermanos?
What has keys but can’t open locks?
What is a piano (or keyboard)?
In soccer, “extra time” consists of two halves of this length each.
What is 15 minutes?
In audit speak, “PBC” most commonly stands for this.
What is Provided By Client?
An “inverted yield curve” is often viewed as a warning sign of this.
What is a recession?
In Friends, this is the name of Ross’s second wife (the one he says the wrong name at the altar for).
Who is Emily?
“The more you take, the more you leave behind.”
What are footsteps?
Under U.S. overtime rules, eligible employees typically earn overtime pay after working more than this many hours in a workweek.
What is 40 hours?
Under the accrual basis, expenses are recorded when they are _____.
What is incurred?
A company’s market cap is calculated as share price × _____.
What are shares outstanding?
In Harry Potter, this is the name of the wizarding prison guarded by Dementors.
What is Azkaban?
If 5 machines make 5 widgets in 5 minutes, how long would 100 machines take to make 100 widgets?
What is 5 minutes?
In the NFL regular season, the overtime period lasts this many minutes.
What is 10 minutes?
This report is commonly used to understand controls at a service organization (think something like a payroll provider).
What is a SOC 1 report?
The “Rule of 72” estimates how long it takes an investment to do this.
What is double?
In The Walking Dead, this is the name of the group led by Negan.
What are The Saviors?
A man is looking at a photograph. Someone asks, “Whose picture are you looking at?”
He replies: “Brothers and sisters, I have none. But this man’s father is my father’s son.”
Who is in the picture?
Who is his son?
In tennis, a tiebreak is typically played when the set score reaches this.
What is 6–6?