Q,C,A
An auditor traces the serial numbers on equipment to a nonissuer’s subledger. Which of the following management assertions is supported by this test?,(A) Valuation and allocation (B) Completeness (C) Rights and obligations (D) Presentation and disclosure,B
"One hundred years ago, your great-great-grandmother invested $100 at 5% yearly interest. What is the investment worth today?","(A) $13,000 (B) $600 (C) $15,000 (D) $28,000",A
"On January 1, year 1, Alpha Co. signed an annual maintenance agreement with a software provider for $15,000 and the maintenance period begins on March 1, year 1. Alpha also incurred $5,000 of costs on January 1, year 1, related to software modification requests that will increase the functionality of the software. Alpha depreciates and amortizes its computer and software assets over five years using the straight-line method. What amount is the total expense that Alpha should recognize related to the maintenance agreement and the software modifications for the year ended December 31, year 1?","(A) $5,000 (B) $13,500 (C) $16,000 (D) $20,000",B
"Krete is an unmarried taxpayer with income exclusively from wages. By December 31, year 1, Krete's employer has withheld $16,000 in federal income taxes and Krete has made no estimated tax payments. On April 15, year 2, Krete timely filed for an extension request to file her individual tax return, and paid $300 of additional taxes. Krete's year 1 tax liability was $16,500 when she timely filed her return on April 30, year 2, and paid the remaining tax liability balance. What amount would be subject to the penalty for underpayment of estimated taxes?","(A) $0 (B) $500 (C) $1,650 (D) $16,500",A
Box a nongovernmental not-for-profit organization had the following transactions during the year: Proceeds from sale of investments $80000 Purchase of property plant and equipment $10000 Proceeds from long-term debt $100000 Loss on sale of investment $5000 What amount should be reported as net cash provided by financing activities in Box's statement of cash flows?,"(A) $70,000 (B) $75,000 (C) $80,000 (D) 100000",D