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Match the Appropriate Definitions with Correct Term

Question 209

Matching

Match the appropriate definitions with correct term.

Premises:

Responses:

An independent examination of a company's financial statements and the accounting system that produced the statements.

Internal Revenue Service (IRS)

The governmental agency responsible for tax collection.

FASB

People and firms who lend money.

Audit

Professional accountant, licensed by states to perform audits.

XBRL

Standardized, interactive format used for filing reports with the SEC.

Creditors

A group of professional business people, accountants, and scholars who have the responsibility of setting current accounting standards internationally.

IASB

A group of professional business people, accountants, and scholars who have the responsibility of setting current accounting standards in the U.S.

Certified Public Accountant (CPA)

Premises:

An independent examination of a company's financial statements and the accounting system that produced the statements.

The governmental agency responsible for tax collection.

People and firms who lend money.

Professional accountant, licensed by states to perform audits.

Standardized, interactive format used for filing reports with the SEC.

A group of professional business people, accountants, and scholars who have the responsibility of setting current accounting standards internationally.

A group of professional business people, accountants, and scholars who have the responsibility of setting current accounting standards in the U.S.

Responses:

Internal Revenue Service (IRS)

FASB

Audit

XBRL

Creditors

IASB

Certified Public Accountant (CPA)

Correct Answer:

Premises:

Responses:

An independent examination of a company's financial statements and the accounting system that produced the statements.

The governmental agency responsible for tax collection.

People and firms who lend money.

Professional accountant, licensed by states to perform audits.

Standardized, interactive format used for filing reports with the SEC.

A group of professional business people, accountants, and scholars who have the responsibility of setting current accounting standards internationally.

A group of professional business people, accountants, and scholars who have the responsibility of setting current accounting standards in the U.S.