Test Your Knowledge Every Week!


ABC's of Accounting Quiz

Accountants are lifelong students. The weekly quizzes are open
to everyone in the wonderful field of accounting, business
and the study of accounting. Good luck!

This week's quiz brought to you by:
Barbara W. Scofield, PhD, CPA - Associate Professor of Accounting
and Director of the Financial Accounting Concentration
University of Dallas
Irving, Texas



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Marlo Morgan:
"The only way to pass a test is to take the test"



1 - What is GAAP?
Generally Accepted Accounting Principles
General Accounting and Audit Procedures
Generally Accepted Auditing Principles
Generally Accepted Accounting Practices

2 - What is an IFRS?
Independent Foreign Reporting Standards
Institute for Financial Reporting Standards
International Financial Reporting Standard
International Financial Reporting Society

3 - What is XBRL?
eXtension to Business Reporting Languages
eXtensible Business Reporting Language
eXcellence in Business Reporting Languages
eXtensible Business Regulation & Litigation

4 - What is the FASB?
Financial Auditing Standards Bulletin
Financial Accounting Standards for Business
Financial Accounting Standards Board
Foreign Accountability and Service Board

5 - What is the EITF?
Emerging Issues Task Force
Enterprise Institute for Transnational Firms
Emerging Issues Technical Foundation
Excellence in Innovation Task Force

6 - What is the PCAOB?
Private Commission on Accounting Organizations Board
Principles for Corporate Audit Oversight Board
Public Company Auditing Oversight Board
Public Company Accounting Oversight Board

7 - What is the AICPA?
Association of Independent Certified Public Accountants
American Institute of Certified Public Accountants
American Institute of Corporate Professional Accountants
American Institute of Chartered Professional Accountants

8 - What is the SEC?
Securities Exchange Commission
Securities & Exchange Commission
Security & Exchange Commission
Security Exchange Commission

9 - What is a 10-K?
Form used for companies undergoing their initial public offering of securities
Form used for communication with shareholders prior to a shareholder vote
Annual Reporting Form used by US Public Companies
Quarterly Reporting Form used by US Public Companies

10 - What is a 20-F?
Form used by public companies to disclose material events
Form used by major shareholders to disclose changes in level of stock holdings
Annual Reporting Form used by US Companies with securities listed on foreign security exchanges.
Annual Reporting Form used by non-US Companies with securities listed on US security exchanges.

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