What is Accounting? 1.4.3

The most significant challenge in international accounting for American companies is_____?

• managing multiple currenies

• following GAAP

• complying with the Sarbanes-Oxley Act

• implementing cloud computing

Gina has decided that she wants to study to be an auditor, What should Gina do in order to best prepare herself for this position?

• gain a master of business administration degree

• gain a master of accountancy degree

• obtain experience in leadership and management

• complete a one-to two-year supervised internship

_____ skills are the most important for accountants when presenting their work to clients

• multitasking

• communication

• math

• social media

How do management accounts help managers make business decisions?

• management accountants make sure account are paid on time

• management accountants prepare local, state, and federal income tax returns

• management accountants provide accurate financial data and analyze the data to make predictions

• management accountants ensure that everyone pays their taxes

Because they can affect losses and gains when doing business in other countries, international accountants need to keep track of_____

• gross domestic product growth rates

• business success rates

• unemployment rates

• exchange rates

______ are specialized accountants who look for evidence of improper accounting methods

• forensic accountants

• government accountants

• public accountants

• fraudulent accountants

Which of the following is a positive impact of GAAP?

• accounting practices are simple and streamlined

• accounting practices are transparent and consistent

• accounting practices are internationally accepted

• accounting practices are free from gender bias

by law, an accountant must hold a CPA designation in order to:

• examine statements for accuracy and compliance

• choose and develop a company's accounting systems

• file a reports with the Securities and Exchange Commission

• hold a position as a management accountant

The lessons or skills that a person gains by working in a specific job or occupation is known as ---------

• certification

• training

• education

• experience

Why are leadership skills important in business?

• because without them a person could never get into college, therefor never into business either

• because businesses always refuse to hire people without demonstrated leadership skills

• because they demonstrate that a person is totally qualified for a position in any industry

• because businesses want to hire people who can engage with others in supportive ways