Zach Was Working as an Intern for an Investment Company

question 203

Multiple Choice

Zach was working as an intern for an investment company. His office was in the World Trade Center in New York City and his first day on the job was September 11, 2001. Zach survived the terrorist attacks physically unharmed but is now experiencing flashbacks, digestive problems, and he can't seem to have successful personal relationships. Zach's current problems may be a result of

• A)microstressors
• B)catastrophic events
• C)macrostressors
• D)major negative events

Understand the principles of management by exception.

Grasp the role of activity indexes in budgeting.

Identify the characteristics of a responsibility accounting system.

Understand the financial management of not-for-profit entities and departmental budget responsibility.

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Definitions:

Residual Value

The estimated value that an asset will realize upon the end of its useful life, often used in calculating depreciation.

Straight-Line Method

A depreciation method that allocates the cost of an asset evenly over its useful life.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards in the US.

IASB

International Accounting Standards Board, the organization responsible for developing and publishing international financial reporting standards.