MAN1107 PRETEST WK9 89-100

Important provisions of the Sarbanes-Oxley Act: 

• require the CEO and CFO of corporations to certify the accuracy of financial reports.
• encourage the destruction of financial documents to minimize identity theft.
• approve corporate loans to directors of the company.
• encourage outside CPA firms to deliver several services to their clients, including auditing services and consulting services.

__________ is the accounting practice of recording each transaction with a debit and a credit in the accounting journal. 

• Trial balancing
• Double-entry bookkeeping
• Account matching
• Entry duplication

The __________ is an accounting statement that reports the financial condition of a firm at a specific point in time. 

• balance sheet
• income statement
• statement of cash flows
• trial balance

Which financial statement reports the company's revenues and selling costs over a period of time?

• trial balance
• income statement
• statement of cash flows
• balance sheet

All of the following are credit bureaus discussed in the book except:

• TransUnion
• Credit USA
• Experian
• Equifax

Which of the following is the largest contributor to your FICO score?

• Payment History
• Length of Credit History
• Amount of Credit Owed
• Types of Credit Used

All of the following are types of Bonds discussed in the book except: 

• Corporate
• Treasury
• Private
• Municipal

What is the part of your pay that’s deducted by your employer to fund Medicare and Social Security?

• MSA
• MSSA
• FICA
• ACA

A home loan would be considered what type of credit? 

• Service Credit
• Consumer Credit
• Installment Credit
• Charge Cards

Earning interest on your interest when investing is known as: 

• Geometric Interest
• Multiple Interest
• Simple Interest
• Compounding Interest