AAA Trivia Social Accounting Questions

What organization sets the accounting rules for GAAP?

• Financial Analyst Studies Board

• Financial Accounting Standards Board

• Board of Certified Public Accountants

• Securities and Exchange Commission

What are the two main types of recording financial events?

• Cash Basis and Accrual Basis

• Credit and Debit reporting

• Earned and Unearned income basis of accounting

• Acceptance and Deferral basis

When was the Aggie Accounting Association established?

• 1946

• 1983

• 2004

• 2021

In T-Accounts, are debits on the left or the right?

• Left

• Right

• Neither

• Both

What two Mays business accounting classes cover cost accounting?

• 229 and 230

• 327 and 328

• 405 and 329

• 230 and 329

How many groups of PPA students have there been?

• 30

• 31

• 33

• 40

What does CPA stand for?

• Certified Public Accountant

• Contra Publicum Animus

• Certified Public Annoyer

• Controlling Public Accounts

How many parts is the CPA exam?

• 2

• 3

• 4

• 5

What is a REQUIREMENT for admission into the Professional Program in Accounting?

• Minimum 3.4 GPA

• Grades of at least B in ACCT 229 and 230

• Must be a declared accounting major

• None of the above

Who has the authority to set GAAP but delegate the responsibility?

• AICPA

• Federal Reserve

• SEC

• None of the above