Question : 81. ____ considered to be product or service market stakeholders. A. Employees and : 1233753

81. ____ are considered to be product or service market stakeholders. 
A. Employees and customers
B. Customers and vendors
C. Owners and managers
D. Government and banks

82. The following are examples of internal stakeholders except: 
A. Managers
B. Owners
C. Employees
D. all of the above

83. Due to various fraudulent business practices and accounting coverups in the early 2000’s, Congress enacted the Sarbanes-Oxley Act of 2002. The act was responsible for establishing a new oversight board for public accountants called the 
A. Generally Accepted Accounting Practices for Public Accountants Board.
B. Public Company Accounting Oversight Board.
C. Congressional Accounting Oversight Board.
D. None are correct.

84. Which of the following is the best description of accounting’s role in business? 
A. Accounting provides stockholders with information regarding the market value of the company’s stocks.
B. Accounting provides information to managers to operate the business and to other stakeholders to make decisions regarding the economic condition of the company.
C. Accounting provides creditors and banks with information regarding the credit risk rating of the company.
D. Accounting is not responsible for providing any form of information to stakeholders. That is the role of the Information Systems Department.

85. Managerial accountants would be responsible for providing the following information: 
A. Tax reports to government agencies.
B. Profit reports to owners and management.
C. Expansion of a product line report to management.
D. Consumer reports to customers.

86. Which of the following is not a certification for accountants? 
A. CIA
B. CMA
C. CISA
D. All are true.

87. Which of the following is not a characteristic of a corporation? 
A. Corporations are organized as a separate legal taxable entity
B. Ownership is divided into shares of stock.
C. Corporations experience an ease in obtaining large amounts of resources by issuing stock.
D. A corporation’s resources are limited to their individual owners’ resources.
E. Corporations make up 20% of all businesses.

88. Which of the following is not a role of accounting in business? 
A. To provide reports to stakeholders about the economic activities and conditions of a business.
B. To personally guarantee loans of the business.
C. To provide information for managers to use in operating the business.
D. To assess the various informational needs of stakeholders and design its accounting system to meet those needs.
E. To provide information to other stakeholders to use in assessing the economic performance and condition of the business.

89. Which of the following is one of the sound principles for ethical behavior? 
A. avoiding small ethical lapses
B. focusing on long-term reputation
C. possibly suffering adverse consequences for holding to an ethical position
D. all are correct
E. none are correct

90. Which of the following is not a requirement by any state for obtaining a CPA certificate? 
A. earning 150 semester hours of college credit
B. having experience in wordprocessing, electronic spreadsheets and databases
C. acquiring college education in accounting
D. passing an examination prepared by the AICPA
E. working for one to three years in a public accounting setting