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Accounting Laws & Regulations ICEV

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

following the correct accounting procedures, according to moral values and company ethical standards when available

a)

Accounting Laws

b)

Accounting Ethics

c)

Accounting Regulations

2.

established principles and rules which govern accounting settings in different situations

a)

Accounting Laws

b)

Accounting Ethics

c)

Accounting Regulations

3.

national professional organization which helps develop and administer CPA exams and promote ethical practices in the accounting profession

a)

Financial Accounting Standards Boards (FASB)

b)

Generally Accepted Accounting Practices (GAAP)

c)

American Institute of Certified Public Accountants (AICPA)

d)

Securities and Exchange Commission (SEC)

4.

An accounting regulation which creates a set of rules articulating the firm's values

a)

mission rules

b)

vision rules

c)

measurement rules

d)

boundary rules

5.

morals and principles within a company which inform the firm's accounting practices

a)

measurement rules

b)

ethical rules

c)

mission rules

d)

vision rules

6.

private-sector organization, not under direct government control which helps improve accounting standards

a)

Financial Accounting Standards Boards (FASB)

b)

Generally Accepted Accounting Practices (GAAP)

c)

American Institute of Certified Public Accountants (AICPA)

d)

Securities and Exchange Commission (SEC)

7.

an accounting regulation regarding the quantifiable and correlative nature of accounting data

a)

measurement rules

b)

ethical rules

c)

mission rules

d)

vision rules

8.

federal law created to set new requirements for all US public company boards, public accounting firms and company management enforced audit rotation and mandated executive acknowledgement of published financial reports

a)

Andre's Law

b)

Sarbanes-Oxley Act of 2002

c)

Adam Walsh Act

d)

The Volstead Act

9.

standards that encompass the details, complexities and legalities of business and corporate accounting

a)

Financial Accounting Standards Boards (FASB)

b)

Generally Accepted Accounting Practices (GAAP)

c)

American Institute of Certified Public Accountants (AICPA)

d)

Securities and Exchange Commission (SEC)

10.

1971 law giving people the right to see their credit reports atcredit bureaus

a)

Fair Credit Reporting Act

b)

Fair Market Value

c)

Fiduciary

d)

Debtor Law