Strayer University - ACC 100 100 Origins and Ethics 1)Which of the following statements is true regarding the purpose of the Sarbanes Oxley-Act?         2 — Governance Differentiate between governing principles, bodies, and agencies involved in regulating accounting practices

Strayer University - ACC 100 100

Origins and Ethics

1)Which of the following statements is true regarding the purpose of the Sarbanes Oxley-Act?

2 — Governance

Differentiate between governing principles, bodies, and agencies involved in regulating accounting practices.

The                          is the governing body which investigates and reports on the use of public funds while the                           is the governing body responsible for collecting taxes.

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3 — Accounting in Practice

Identify the major roles and responsibilities in the field of accounting.

Frank and Laura dedicated $250,000 to one of their clients, hoping to receive returns in addition to that $250,000.

Frank and Laura's role is that of a(n)            

4 — Businesses and Organizations

Determine the basic structure and tax forms of legal entities.

Which of the following scenarios correctly describes a non-profit organization?

5 — Account Groups

Compare the types of permanent accounts with the types of temporary accounts. Which of the following statements describes expenses?