Questions from General Accounting


Q: Shifty Industries is a small business that sells home beauty products in

Shifty Industries is a small business that sells home beauty products in the San Luis Obispo, California, area. The company has experienced a cash crunch and is unable to pay its bills on a timely bas...

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Q: Cleveland Custom Cabinets is a specialty cabinet manufacturer for high-end

Cleveland Custom Cabinets is a specialty cabinet manufacturer for high-end homes in the Cleveland Heights and Shaker Heights areas. The company manufactures cabinets built to the specifications of hom...

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Q: Better Boston Beans is a coffee shop located in the Faneuil Hall

Better Boston Beans is a coffee shop located in the Faneuil Hall Marketplace near the waterfront and Government Center in Boston. It specializes in exotic blends of coffee, including Sumatra Dark Roas...

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Q: Barbara is working on the audit of a client with a group

Barbara is working on the audit of a client with a group of five other staff-level employees. During the audit, Diane, a member of the group, points out that she identified a deficiency in the client’...

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Q: The WorldCom fraud was the largest in U.S. history

The WorldCom fraud was the largest in U.S. history, surpassing even that of Enron. Beginning modestly during mid-year 1999 and continuing at an accelerated pace through May 2002, the company—under the...

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Q: Gregory and Alex started a small business based on a secret-

Gregory and Alex started a small business based on a secret-recipe salad dressing that got rave reviews. Gregory runs the business end and makes all final operational decisions. Alex runs the creative...

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Q: Brenda Sells sent the tax return that she prepared for the president

Brenda Sells sent the tax return that she prepared for the president of Purple Industries, Inc., Harry Kohn, to Vincent Dim, the manager of the tax department at her accounting firm. Dim asked Sells t...

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Q: Jackson Daniels graduated from Lynchberg State College two years ago. Since

Jackson Daniels graduated from Lynchberg State College two years ago. Since graduating from college, he has worked in the accounting department of Lynchberg Manufacturing. Daniels was recently asked t...

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Q: Assume you are interviewing for a position with an accounting firm and

Assume you are interviewing for a position with an accounting firm and the recruiter asks you the following questions. Craft a response that you would feel comfortable giving for each one. • Describe...

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Q: Troy just returned from a business trip for health-care administrators

Troy just returned from a business trip for health-care administrators in Orlando. Kristen, a relatively new employee who reports to him, also attended the conference. They both work for Gateway Hospi...

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