Accountants That Have a Certificate in Public Accounting (CPA)

question 6

Multiple Choice

Accountants that have a Certificate in Public Accounting (CPA) :

• A) are the only accountants permitted to serve as external auditors.
• B) must pass a national examination and be licensed by the state in which they practice.
• C) may be held responsible to provide assurance concerning the reliability of a firm's financial statements.
• D) all of these statements are true.

List and explain the steps in the Lewin change model.

Define and describe the concept of organizational development.

Identify the three levels in an organization where change occurs according to Kurt Lewin.

Describe the unfreezing stage in the Lewin change model.

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Definitions:

Variable Expenses

Costs that vary in direct proportion to changes in a business activity's level, such as sales volume or production quantity.

Break-even Point

The point at which the amount of products sold or produced matches the total costs, leading to neither a profit nor a loss.

Margin of Safety

The difference between actual or expected sales and the breakeven sales, indicating the amount by which sales can drop before the business incurs a loss.

Percentage of Sales

A financial metric or method that relates various income statement accounts as a percentage of sales, often used for analysis or forecasting.