Accounting I HN 2.02

Lisa is applying for a position in a small insurance agency. The company wants to hire an individual that can convert its manual accounting system to a computerized system. She listed on her application that she has an accounting degree as well as an emphasis in computerized systems. These qualifications represent which type of skills?

• basic skills

• workplace skills

• foundation skills

• communication skills

Jason demonstrates accuracy and truthfulness when he works with his accounting clients. This is an example of which key principle for ethics in accounting?

• competence

• confidentiality

• independence

• integrity

Mary has applied for a position as an accounting clerk for a local company. She listed as her qualifications that she is a problem-solver and needs little direction to complete assigned tasks. These are classified as which type of skills?

• 21st Century skills

• workplace skills

• foundation skills

• communication skills

John has applied for a position as chief financial officer for a Fortune 500 company. He listed as his qualifications that he is a problem-solver, has the ability to plan, and can resolve issues. These are classified as which skills?

• 21st Century skills

• workplace skills

• foundation skills

• communication skills

Jamie is an accountant. She knows that she is expected to produce accurate financial reports from her audit. She knows when she submits her report to her superiors, her friend will suffer consequences for misappropriation of funds. Jamie submits an accurate report and follows which key principle for ethics in accounting?

• competence

• confidentiality

• materiality

• objectivity

Brian is an accountant in a local firm. He submits an accounting report to his manager that suggests an action that will ultimately benefit him monetarily. Which key principle for ethics in accounting has Brian violated?

• competence

• confidentiality

• independence

• materiality

Bob Martin, CPA, delivers training workshops for CPA exam candidates. In acquiring resources for his workshops, he offers each candidate $100 to provide him information on questions from the exam. Which specific rule of conduct is Martin violating?

• Advertising and Other Forms of Solicitation

• Acts Discreditable

• Contingent Fees

• Independence

Daniel Davis, CPA, only prepares tax returns in his business. He is asked to prepare an audit for Watauga Medical Center. Davis refuses to accept the engagement based on his past experience. Which general standard is being followed?

• Due Professional Care

• Sufficient Relevant Data

• Professional Competence

• Planning and Supervision

Grace Associates, a CPA firm, is preparing an audit for GWM Corporation. Grace discovers that the financial statements have been intentionally altered to reflect a higher net income. To complete the audit quickly, Grace decides to leave this matter out of the audit report. Which specific rule of conduct does Grace violate?

• Confidential Client Information

• Contingent Fees

• Dependent

• Integrity and Objectivity

Steven demonstrated his ability to work with everyone in the department at Zapps Bank, including a very shy clerk, an annoying CPA, and a very temperamental supervisor. This is an example of which twenty-first-century skill?

• interpersonal

• resources

• systems

• technology