Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Chapter 1, Problem 20MC
Most states require 150 semester hours of college credit for which professional certification?
A. Certified
B. Certified Internal Auditor (CIA)
C. Certified Public Accountant (CPA)
D. Certified Financial Planner (CFP)
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Question 8
What are the educational requirements to receive a CPA certificate in the State of Connecticut?
A Master's Degree, 150 total credit hours, 36 credit hours in accounting, 36 credit hours in economics or general business courses
A Baccalaureate Degree, 150 total credit hours, 36 credit hours in accounting, 36 credit hours in economics or general business courses
A Baccalaureate Degree, 150 total credit hours, 36 credit hours in accounting, 30 credit hours in economics or general business courses
A Master's Degree, 150 total credit hours, 36 credit hours in accounting, 30 credit hours in economics or general business courses
CASE (A): A group of recent passers of the licensure examination for Certified Public Accountants are registering for the Philippine Institute of Certified Public Accountants (PICPA). The registration officer asks each of them which sub-organization under the umbrella of PICPA they would also like to be registered to. The registration officer provided them with the following choices:
A. Association of Certified Public Accountants in Public Practice (ACPAPP)
B. Association of Certified Public Accountants in Commerce and Industry (ACPACI)
C. Government Association of Certified Public Accountants (GACPA)
D. National Association of Certified Public Accountants in Education (NACPAE)
For each of the certified public accountants listed below, determine which organization they would fit into considering their job profile.
____________1. Joseph is hired as an internal auditor for a fastmoving consumer goods manufacturer.
____________2. Laurence works for an auditing firm engaged in providing…
Which of the following is a requirement for becoming a CPA
Select one:
a. pass examination offered which consisting of 4 parts
b. graduate degree with a major in accounting
c. All of the above are requirement
d. pass examination of 4 parts is enough to become a CPA
e. experience to 2 years, including auditing
Chapter 1 Solutions
Principles of Accounting Volume 1
Ch. 1 - Accounting is sometimes called the language of...Ch. 1 - Financial accounting information ________. A....Ch. 1 - External users of financial accounting information...Ch. 1 - Which of the following groups would have access to...Ch. 1 - All of the following are examples of managerial...Ch. 1 - Which of the following is not true? A....Ch. 1 - The primary purpose of what type of business is to...Ch. 1 - Which of the following is not an example of a...Ch. 1 - A governmental agency can best be described by...Ch. 1 - Which of the following is likely not a type of...
Ch. 1 - Which of the following is not considered a...Ch. 1 - Stockholders can best be defined as which of the...Ch. 1 - Which of the following sell stock on an organized...Ch. 1 - All of the following are sustainable methods...Ch. 1 - The accounting information of a privately held...Ch. 1 - Which of the following skills/attributes is not a...Ch. 1 - Which of the following is typically required for...Ch. 1 - Typical accounting tasks include all of the...Ch. 1 - What type of organization primarily offers tax...Ch. 1 - Most states require 150 semester hours of college...Ch. 1 - Research your top five career choices. Identify...Ch. 1 - Using the same top five career choices, identify...Ch. 1 - Think about a recent purchase you made. Describe...Ch. 1 - Computerized accounting systems help businesses...Ch. 1 - The following information was taken from the...Ch. 1 - The following chart shows the price of Netflix...Ch. 1 - Use the internet to research one for-profit, one...Ch. 1 - Use the internet to research one manufacturing,...Ch. 1 - Assume you are considering opening a retail...Ch. 1 - Uber and Lyft are two popular ride-sharing...Ch. 1 - How would you categorize or classify a company...Ch. 1 - Charity Navigator...Ch. 1 - Use the internet to visit the Securities and...Ch. 1 - Imagine that you have just been elected president...Ch. 1 - According to a company press release, on January...Ch. 1 - The Dow Jones Industrial Average (DJIA) is often...Ch. 1 - Many professional certifications now have...Ch. 1 - The Certified Public Accountant (CPA) exam is a...
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Similar questions
- The Certified Management Accountant (CMA) certification: signifies someone specializing in tax accounting requires an associates degree and four years of work experience includes a two-part exam, education requirements, and a work experience requirement is offered to managers who take special courses in accountingarrow_forwardThe Certified Financial Analyst (CFA) certification: only requires a high school diploma is administered by the AICPA consists of three separate exams that must be taken in succession is the most popular certification among accountants in the United Statesarrow_forwardWhich of the following is typically required for entry-level positions in the accounting profession? A. bachelors degree B. masters degree C. Certified Public Accountant (CPA) D. Certified Management Accountant (CMA) E. only a high school diplomaarrow_forward
- What requirements are usually necessary to become licensed as a certified public accountant?a. Successful completion of the Uniform CPA Examination.b. Experience in the accounting field.c. Education.d. All of the abovearrow_forwardReview the imanet.org website to research more information about the Certified Management Accountant (CMA) certification. Choose one of the following questions to discuss: Discuss what you think the benefits of having the CMA certification are and what value a CMA brings to companies. Using the internet or other resources to research other accounting certifications, pick two other accounting certifications and compare them to the CMA. Do you think a certification only allows a professional to work in one field of accounting or another, or do the certifications cross subfields of accounting? Are there benefits to professionals pursuing more than one certification? Why or why not? Which certification do you personally find most interesting and valuable? Discuss what you think the benefits of having the CMA certification are and what value a CMA brings to companiesarrow_forwardExplain briefly : 1. Chartered Certified Accountant (ACCA) designation. 2. Certified Financial Planner (CFP) designation. 3. Certified Management Accountant (CMA) certification. 4. Certified Public Accountant (CPA) certification. 5. Chartered Alternative Investment Analyst (CAIA) designation.arrow_forward
- 5. Match the terms with their appropriate descriptions: Group choices: a. Certified Public Accountant b. Just-in-time manufacturing c. Certified Management Accountant d. Continuous improvements e. Certified Internal Auditor f. Certified Government Audition Professional g. Certified financial Analyst h. Total quality management i. Lean six sigma j. Certified Fraud Examiner Specialist in corporate accounting management; favors financial analytics, budgeting, and strategic domains? Considered the top tier in accounting certifications; must pass a four-part exam, with education and work experience requirements? Designation that is exclusively for auditors of the public sector? Credential for auditors who work within organizations and is one of a few that is accepted worldwide? Certification for those with a career in finance and investment areas? Designation that proves proficiency in fraud prevention, detection, and deterrence? The focus is on quality throughout the entire…arrow_forwardThe use of the Certified Public Accountant title is regulated by Select one a. the Securities and Exchange Commission D. the American Institute of Certiied Public Accountants through the licensing departments of the tax and auditing committees c. the federal government d. state law through a licensing department or agency of each statearrow_forwardWho is responsible for assessing the accountant's competence? A The American Institute of Certified Public Accountants (AICPA)B Each state's accountancy board.C The accountantD The accountant's clientarrow_forward
- As an accounting student, how do you practice the four core values of the university, and the five fundamental principles of the Code of Ethics of the profession? Answer with at least three sentences.Four Core Values: academic excellence, creativity, and social involvementarrow_forwardA Certified Management AccountantA. is licensed by a state to perform management accounting functions for business and not-for-profit organizations.B. has passed a standardized examination and has certain experience requirements.C. performs the same functions as a CPA but of the internal audit staff of a business.D. both a and b are correct.arrow_forward16 AICPA is a professional accounting body offering a CPA qualification. What is the abbreviation of the term AICPA? a. American Institute of Certified Public Accountant b. Associated Chartered Accountant c. Association of Internal Certified Private Accountant d. Association of International Certified Public Accountant Clear my choicearrow_forward
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