How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Eric M. Your Own Question

Eric M.
Eric M., Tutor
Category: Homework
Satisfied Customers: 2176
Experience:  9 years of tutoring experience, Bachelor's and Master's in Computing, pursuing PhD
Type Your Homework Question Here...
Eric M. is online now
A new question is answered every 9 seconds

hi Eric M, I have some questions that I need to answer now,

Resolved Question:

hi Eric M, I have some questions that I need to answer now, can you help me with them?
Submitted: 2 years ago.
Category: Homework
Expert:  Eric M. replied 2 years ago.
Hey! Accounting isn't one of my strong suits, but I'll be happy to take a look and see if I can help with the particular things you're working on.
Customer: replied 2 years ago.
ok, I will pay $20, its multiple choice and its not totally accounting but about ethics. will start after you say ready.lol
Expert:  Eric M. replied 2 years ago.
K! Ready when you are.
Customer: replied 2 years ago.
1) Janice is a staff accountant in the accounting firm of Adam and Smith. She is assigned to the audit of HealthCare Associates. On the first day, Janice noticed that the accounting manager of the client took money out of the petty cash fund and put it in his pocket. The best action for Janice to take is
A.ignore the situation because Janice does not know why the manager pocketed the money
B.inform her immediate supervisor of what she observed
C.tell another staff accountant who is a friend and ask for her advice
D.tell Adam or Smith
2) Which of the following is considered the Basis of Accounting?
A.Integrity
B.Accountability
C.Transparency
D.Attention to detail
3) The main purpose of the Code of Professional Conduct of the American Institute of Certified Public Accountants is to
A.encourage integrity within the profession
B.protect the public
C.establish a high level of service to clients
D.ensure the highest level of professionalism in CPA services
4) The Independence Principle in the AICPA code applies to
A.all accountants and auditors
B.all CPAs regardless of professional services
C.all CPAs who render attestation services
D.all members of the audit committee
5) Under the rules of the Sarbanes-Oxley Act of 2002, who must certify the public reports filed with the SEC?
A.The independent auditor
B.The CEO
C.The CEO and CFO
D.The CEO and controller
6) Under section 801 of the Sarbanes-Oxley Act of 2002, anyone who "knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation" is subject to certain penalties. How long after the end of the fiscal period in which the audit or review was concluded are auditors required to retain work papers?
A.1 year
B.7 years
C.Indefinitely
D.5 years
7) The Sarbanes-Oxley Act of 2002 created a new legal requirement for all public companies to have external auditors perform audits and provide a report on
A.all four of the basic financial statements annually
B.internal controls over financial reporting
C.an expanded and more detailed report of cash flows
D.the integrity and oversight of corporate governance
8) Which statement is correct in regards XXXXX XXXXX accounting standards for materiality?
A.Financial issues of any size are material to fair presentation of financial statements.
B.Materiality thresholds are set by consistent and firm formulae provided by the AICPA.
C.Materiality should be predictable from audit to audit so that the readers of financial statements know what constitutes materiality.
D.An auditor's consideration of materiality is influenced by the auditor's perception of the need of the readers of the financial statements.
9) The auditors' determination of whether the financial statements present fairly is based on
A.whether the users are able to assess the reliability of the financial statements
B.whether the statements have been prepared in accordance with the same GAAP used from one year to another
C.whether the auditor has been able to gather sufficient evidence to warrant the statement that the financial statements present fairly
D.whether the accounting principles used are appropriate in the circumstances
10) The IASB Framework for the Preparation and Presentation of Financial Statements
A.dictates the standards to be followed in preparing financial statements under IFRS
B.requires an entity to use its judgment in developing and applying and accounting policy that results in information that is relevant and reliable
C.serves as a guide to resolving accounting issues that are not addressed directly in a standard
D.is a new and important provision of the Sarbanes-Oxley Act of 2002
Expert:  Eric M. replied 2 years ago.
THIS ANSWER IS LOCKED!
You can view this answer by clicking here to Register or Login and paying $3.
If you've already paid for this answer, simply Login.
Eric M., Tutor
Category: Homework
Satisfied Customers: 2176
Experience: 9 years of tutoring experience, Bachelor's and Master's in Computing, pursuing PhD
Eric M. and 6 other Homework Specialists are ready to help you
Customer: replied 2 years ago.
Hi Eric M, I wont be asking the others because I have them in my book. but thanks again

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    4520
    More than 5000 online tutoring sessions.
< Last | Next >
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    4520
    More than 5000 online tutoring sessions.
  • http://ww2.justanswer.com/uploads/LI/lindaus/2012-6-10_04811_IMG20120609164157.64x64.jpg Linda_us's Avatar

    Linda_us

    Finance, Accounts & Homework Tutor

    Satisfied Customers:

    3121
    Post Graduate Diploma in Management (MBA)
  • http://ww2.justanswer.com/uploads/ComputersGuru/2010-02-13_051118_Photo41.JPG LogicPro's Avatar

    LogicPro

    Engineer

    Satisfied Customers:

    3035
    Expert in Java C++ C C# VB Javascript Design SQL HTML
  • http://ww2.justanswer.com/uploads/lanis/2009-4-1_233717_phput9xef_c1pm.jpg Lani S.'s Avatar

    Lani S.

    Tutor

    Satisfied Customers:

    2457
    Registered Nurse, Internet Researcher, Private Tutor
  • http://ww2.justanswer.com/uploads/chooser77/2009-08-18_162025_Chris.jpg Chris M.'s Avatar

    Chris M.

    M.S.W. Social Work

    Satisfied Customers:

    2341
    Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)
  • http://ww2.justanswer.com/uploads/JawaadAhmed/2009-6-27_12137_SIs_SHadi.jpg F. Naz's Avatar

    F. Naz

    Chartered Accountant

    Satisfied Customers:

    1975
    Experience with chartered accountancy
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg Bizhelp's Avatar

    Bizhelp

    CPA

    Satisfied Customers:

    1873
    Bachelors Degree and CPA with Accounting work experience