1.The review of financial statements to assess their fairness and adherence to GAAP is

Select one: a. compliance. b. accounting. c. auditing. d. preparation.

2.Which of the following is NOT a service of public accounting firms?

Select one: a. tax accounting b. investment services d. auditing

3.A form of the partnerships business entity is

Select one: a. INP. b. LLP. c. LLC. d. DBA

4.

Managerial accounting is

Select one: a. public accounting. b. private accounting. c. government accounting. d. tax accounting.

5.

Ginger Yale Ice Company receives money from a customer on account. Recording this transaction will:

Select one: a. decrease Accounts Payable b. decrease G. Yale, Capital. c. increase Accounts Receivable. d. increase Cash.

6.The balance sheet shows:

Select one: a. the results of business operations. b. the financial position of a business at a given time. c. all revenues and expenses. d. the amount of net income or loss.