ACCT 553 Final Exam New 2016

1. (TCO E) Zelda Zayer has been a widow for over 3 years and files a return as a single taxpayer. Items of income received by Zelda in 2011 were as follows.

Interest on savings account with Bank of America: $50
Interest on state income tax refund: $25
Gambling winnings: $2,400
Dividends from mutual life insurance company on life insurance policy: $500
Dividends from Better Auto Co. received on January 2, 2011: $875
The total dividends received on the life insurance policy do not exceed the aggregate of the premiums paid to the company.

(a) How much should Zelda include in her 2011 taxable income as interest?
(b) How much should Zelda report as dividend income for 2011?
(c) How much should Zelda include in taxable “Other Income” for her state lottery winnings?

2. (TCO E) Distinguish between realized gains and losses and recognized gains and losses.(Points : 17)

3. (TCO F) Describe the current tax law for sale of residence.(Points : 17)

4. (TCO G) Briefly describe what "material participation" is. Why is the determination of whether a taxpayer materially participates important?(Points : 17)

5. (TCO I) Amos, a single individual with a salary of $50,000, incurred and paid the following expenses during the year.

Medical expenses: $5,000
Alimony: $14,000
Casualty loss (after $100 floor): $1,000
State income taxes: $4,000
Moving expenses: $1,500
Contribution to a traditional IRA: $2,000
Student loan interest: $1,200

Analyze the above expenses and determine which ones are deductible for AGI. Please support your position.(Points : 17)

6. (TCO I) A review of Bearing's Year 2 records disclosed the following tax information:

Wages	$ 20,000
Taxable interest and qualifying dividends	4,000
Schedule C trucking business net income	32,000
Rental (loss) from residential property	(35,000)
Limited partnership (loss)	(5,000)

Bearing actively participated in the rental property and was a limited partner in the partnership. Bearing had sufficient amounts at risk for the rental property and the partnership. What is Bearing's Year 2 adjusted gross income?

7. (TCO F) (Becker CPA Review Course, Reg. 1) Smith has an adjusted gross income (AGI) of $140,000 without taking into consideration $40,000 of losses from rental real estate activities. Smith actively participates in the rental real estate activities. What amount of the rental losses may Smith deduct in determining taxable income?(Points : 17)

8. (TCO B) (Becker CPA Review Course Reg. 3) For the year ended December 31, Year 6, Taylor Corp. had a net operating loss of $200,000. Taxable income for the earlier years of corporate existence, computed without reference to the net operating loss, was as follows:

Taxable Income:

Year 1 $ 5,000
Year 2 10,000
Year 3 20,000
Year 4 50,000
Year 5 50,000

What amount of net operating loss will be available to Taylor for the year ended December 31, Year 7?(Points : 17)

9. (TCO F) (Becker CPA Review Exam Reg. 1) Randolph is a single individual who always claims the standard deduction. Randolph received the following in the current year:

Wages	$ 22,000
Unemployment compensation	6,000
Pension distribution (100% taxable)	4,000
A state tax refund from the previous year	425

What is Randolph’s gross income?(Points : 17)

10. (TCO H) Alex Smith purchased 30 shares of XYZ stock on April 30, 2010 for $210, and on September 1, 2010, he purchased 90 additional shares for $900. On November 8, 2010, he sold 48 shares, which could not be specifically identified, for $528, and on December 15, 2010, he sold another 25 shares for $50. What is his recognized gain or loss?(Points : 17)

ACCT 555 Final Exam New 2016

1. (TCO B) An auditor was unable to obtain sufficient appropriate audit evidence concerning certain transactions due to an inadequacy in the entity's accounting records. The auditor would choose between issuing a(an): (Points : 5)

2. (TCO K) An auditor should consider which of the following when evaluating the ability of a company to continue as a going concern? (Points : 5)

3. (TCO A) An auditor's independence is considered impaired if the auditor has: (Points : 5)

4. (TCO H) Which of the following should be included as a written representation from management? (Points : 5)

5. (TCO E) An auditor would most likely be concerned with internal controls that provide reasonable assurance about the: (Points : 5)

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1.(TCO A) In performing an ATTEST Engagement A CPA would be required to do what as part of the engagement? (Points : 19)

2.(TCO B) When a CPA performs an Audit the Client is always looking to receive a “CLEAN OPINION” or an Unqualified Opinion. Explain what your client must do for a CPA to justify that Unqualified Opinion? (Points : 19)

3.(TCO C) – Based upon the below 4 situations – explain your position of “why” or “why not” the following circumstances would have violated the professions ethical standards when you are a practicing CPA?

4.(TCO D) Discuss five steps individual practicing auditors can take to minimize their legal liability.(Points : 19)

5.(TCO F) Sarbanes Oxley requires that per Section 404 that Internal Controls within a publicly held company are to be reviewed, evaluated and tested at year end to insure that adequate controls are in place. In addition to understanding the Internal Controls present within your client’s company, the auditor must also evaluate whether these controls are in place, and implemented. How does an auditor evaluate these controls to see that they are working and in place?(Points : 19)

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1. (TCO E) What is COSO? Describe the 5 elements of COSO’s Internal Control-Integrated Framework. Provide an example of each of those components and explain why they are important in providing “Reliable Financial Reporting” for a company. Please provide a complete answer for full points. (Points : 30)

2.(TCO G) Business risk must be assessed in performing an audit.

(a) Define business risk in association with an audit and describe several sources of such risk.
(b) How does business risk relate to the performance of preliminary analytical procedures in an audit?
(c) There are four major areas in planning an audit engagement and there are subparts to each of the four major areas. Please identify the four major areas and the subparts that are associated with the major areas.(Points : 30)

3.(TCO H) Audit Risk consists of inherent risk, control risk, and detection risk.
(a) Please completely define each of the above.
(b) Indicate whether each of the statements below is true or false and explain your position:
(1) The risk that material misstatement will not be prevented or detected on a timely basis by internal controls can be reduced to zero by having effective controls in place.
(2) Detection Risk is a function of the efficiency of an auditing procedure.
(3) Cash is more susceptible to theft than an inventory of coal because it has greater inherent risk?
(4) The Inherent risk of the theft of an inventory of cellphones at a mall store is greater than the misappropriation of cash at a COSTCO Store?(Points : 30)

4.(TCO I) Accounts Receivable - For each of the following, please explain if an auditor’s review of the client’s sales cutoff would detect these problems:
(a) Would excessive goods returned for credit be detected by a sales cut-off test – why or why not?
(b) Would unrecorded sales discounts be detected by a sales cut-off test – why or why not?
(c) Lapping of year-end accounts receivable be detected by a sales cut-off test – why or why not?
(d) Inflated sales for the year – could it be detected by a sales-cut-off test – why or why not?(Points : 30)

5.(TCO J) One of the major problems in a computer system is that incompatible functions may be performed by the same individual. Identify from the below choices the control compensating for inadequate segregation of duties in a computer system. Explain why you have selected your response.
(a) Echo Checks
(b) A check digit system
(c) Computer-Generated hash totals
(d) A computer access log (Points : 30)

6.(TCO K) You are the Senior Auditor for WWZ Co. and you have completed the testing of all the accounts. However, prior to issuing your report, what are at least five other procedures or reviews that must be performed prior to issuing your report? Explain your responses(Points : 30)

ACCT 562 Final Exam New 2016

1. (TCO A) Identify the three "E's" of operational auditing, and note three examples of each. Illustrate how these fit into the specific objectives of the operational audit. (25)

2. (TCO B) One of the most important arrears of the planning phase is to identify the critical problem areas. A good place to start in determining critical operational areas is to analyze the organization’s financial data and statements. Identify and explain the four analytical tools that can be used to effectively analyze financial statements

3. (TCO C) There are four procedural steps in the work program development, identify these procedural steps and their purpose, then list no less than five work steps to help the reviewer meet the objectives during a review of purchasing department operations, as outlined in your notes

4. (TCO D)Describe four factors that a reviewer must consider in reaching conclusions during the field work phase, explain why a reviewer should consider these factors. Then identify four specific field work techniques used to identify weaknesses in management and operational systems

5. (TCO E) Criteria is one of the attributes of review findings. Identify no less than four of the six criteria standards and analyze their inclusion in your report. (20)

6. (TCO F) Identify and describe the four categories of corruption? What do they have in common? How do they differ? (20)

BIS 245 Week 8 Final Exam - 2016

1. (TCO 1) Databases create business value by

2. (TCO 1) What Microsoft Access feature would give a United Parcel Service (UPS) manager the ability to ask questions like “How many UPS tubes were shipped Monday?” and “What was the total revenue generated from UPS Express Box Large in November 2013?”

3. (TCO 1) All of the following are Report Wizard Layout types EXCEPT

4. (TCO 1) Which of the following is a/are question(s) that you should ask before you create an Access report?

5. (TCO 1) A Detail line is used to

6. (TCO 2) A field that uniquely identifies each record in a table is a

7. (TCO 2) SQL is a fourth-generation language that is

8. (TCO 3) Which of the following should be considered when designing a database?

9. (TCO 3) Summarized data in an easy-to-read view is known as a

10. (TCO 3) Which of the following does NOT describe a caption property?

11. (TCO 4) Which function is used to isolate a specific portion of a date such as year, month, or day in a date field?

1. (TCO 5) To edit a form, use

2. (TCO 5) Clicking on the form tool will open a(n)

3. (TCO 6) Which of the following describes a poor design consideration for a form?

4. (TCO 6) After running a query, which view will be shown?

5. (TCO 7) When making vertical data comparisons, you should use the following chart.

6. (TCO 7) Which of the following statements best describes data mining?

7. (TCO 8) A switchboard is a

8. (TCO 9) Open Exclusive means that

9. (TCO 9) All of the following are true when a user creates their own self-signed digital signature EXCEPT

10. (TCO 10) ACCDE files

11. (TCO 4) The term "cascading" refers to

1. (TCO 1) Designing a database often involves obtaining different perspectives from various sources to gather information. Discuss the importance of end user interviews in the data requirements gathering process.

2. (TCO 2) Explain the purpose of a conceptual database model and describe the most common method of creating one.

3. (TCO 4) Explain the terms entity and attribute. Describe an example of an entity and then list two attributes. Using your examples, explain the data types that would be used to capture the attributes

4. (TCO 4) Explain 1NF, 2NF, and 3NF as related to database design

BUSN 340 Final Exam - New 2016

1. (TCO 2) What is the basic accounting equation?

2. (TCO 1) What are the primary responsibilities of the financial manager?

3. (TCO 1) What are the six stages of the revenue cycle?

4. (TCO 1) What is the False Claims Act and how does it impact providers of health care services?

5. (TCO 4) You have been asked to establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below:

Budgeted Procedures 10,000
Budgeted Cost$400,000
Desired Profit $80,000
It is estimated that Medicare patients comprise 40 percent of total radiology volume and will pay on average $38.00 per procedure. Approximately 10 percent of the patients are cost payers. The remaining charge payers are summarized below:

Payer	Volume %	Discount %
Blue Cross	20	4
Unity PPO	15	10
Kaiser	10	10
Self Pay	5	40
	50%

What rate must be set to generate the required $80,000 in profit in the preceding example?

6. (TCO 3) Assume that a certain nursing home has two categories of payers. Medicaid pays $60.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private-pay charges are not collected. If 50 percent of the patients are Medicaid and 50 percent are private pay, what rate must be set to generate $150,000 in profit? Variable costs are $45.00 per day and fixed costs are expected to be $1,000,000. Expected volume is 50,000 patient days

7. (TCO 5) What are the advantages to a tax-paying entity in issuing debt as opposed to equity?

8. (TCO 6) What is the purpose of disbursement policies?

9. (TCO 6) What are the three reasons why a health care facility holds cash?

10. (TCO 7) Why is tax-exempt financing cited as a benefit received by not-for-profit healthcare providers?

11. (TCO 1) What are the three factors that influence pricing?

12. (TCO 5) Why is a dollar today worth more than a dollar received in the future?

COMP 122 Final Exam - New 2016

THIS PROGRAM WILL COMPUTE THE VALUE OF A CAR BASED ON THE BUYERS SELECTION OF THE VEHICLE AND THE ACCESSORIES. THEN WILL GIVE THE BUYER A FINAL OUTPUT WHICH IS THE TOTAL PRICE OF THE VEHICLE AFTER EVERYTHING HAS BEEN SELECTED.

ECET 330 Final Exam New 2016

1. (TCO 1) Dynamic memory requires _____ that is not needed for other types of memory

2. (TCO 1) Main memory in virtually all computers contains how many data bits at each address?

3. (TCO 1) In a CPU with a 16-bit program counter, what is the maximum, directly accessible code space?

4. (TCO 2) Which of the following is correct for the “von Neumann” architecture?

5. (TCO 2) Operations performed by the Control Unit include

6. (TCO 2) What direction does data flow on a WRITE bus cycle?

7. (TCO 3) For the CodeWarrior assembler

8. (TCO 3) The “LDAB #$AA” is _____-byte instruction

9. (TCO 3) Which statement about CodeWarrior assembly language is true?

10. (TCO 3) Which of the following is wrong?

1. (TCO 4) What is the value in Accumulator B after the execution of the code below?

ORG $2000
XYZ DC.B 0, 1, 2, 4
ORG $8000
LDY #XYZ
LDAA #04
LDAB #02
BACK ADDB 0, Y
INY
DECA
BNE BACK
HERE BRA HERE

2. (TCO 5) The instruction “subb $100” will

3. (TCO 5) What will be the value in Accumulator A after the following program is executed?

ORG $2000
DATA1 DC.B $F8
ORG $8000
LDAA DATA1
LDAB #4
BACK LSLA
DECB
BNE BACK
HERE BRA HERE

4. (TCO 5) The MC9S12 instruction set has

5. (TCO 5) In the following program, what is the largest number that Register B can take?

L1 CLRA
NOP
NOP
DECB
BNE L1

6. (TCO 5) For a 16-bit signed number, we can use a maximum of _____ bits for the magnitude of the signed number

7. (TCO 8) Assume that PORTB has a value of 0x37. Which of the following gives us Unpacked BCD for 7?

8. (TCO 8) Fill in the blank to get 0x36 on PORTB.

unsigned char BCD_Byte = 0x67;
unsigned char x;
x= BCD_Byte & 0xF0;
_____;
PORTB = x | 0x30

9. (TCO 8) The following program creates square wave pulses on PB0. What is the duty cycle?

	ORG	$8000
	LDS	#$4000
	LDAA	#$FF
	STAA	DDRB
BACK	BSET	PORTB,000001
	JSR	DELAY
	JSR	DELAY
	JSR	DELAY
	BCLR	PORTB,000001
	JSR	DELAY
	BRA	BACK

10. (TCO 8) Find the value for PORTB after the execution of the following code:

PORTB = 0xAA ^ 0x55

1. (TCO 4) Write a program sequence that places the value in Address $2000 into Accumulator A and places the value in Address $2001 into Accumulator B. Then, add these values together and store the result in Location $2002.

2. (TCO 5) Where is the return address of the subroutine stored when a subroutine is called? How is this return address retrieved at the end of the subroutine?

3. (TCO 7) Write a C statement to set Bit 3 of variablefoowithout changing other bits.

4. (TCO 5) Write a HCS12 assembly-language program that counts all even numbers from a 10-variable, byte-sized array and moves the odd numbers to a new array

5. (TCO 6) Write a C program for a HCS12 microcontroller that writes the value, 0x78, to Memory Location VAR1 and then calls a delay function. The delay function should generate a delay of 0.25 milliseconds. Then, send the pattern 0x99 to Memory Location VAR2 and call the delay function one more time. Repeat this operation eight times using a for loop. Assume that the bus clock frequency is 24MHz. Write the delay using inline assembly language.

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