Repeatedly Missed MC/Concepts

Question 1

Which association is NOT part of the Committee on Sponsoring Organizations (COSO)?

Answer 1

Professional Accounting Society of America (PASA)

Question 2

Which 5 associations compose COSO?

Answer 2

1.) American Institute of Certified Public Accountants (AICPA)
2.) Institute of Internal Auditors (IIA)
3.) Institute of Management Accountants (IMA)
4.) Financial Executives Institute (FEI)
5.) American Accounting Association (AAA)

Question 3

Which one of a firm’s sources of new capital usually has the lowest after tax cost?

Answer 3

Bonds (tax deduction for interest paid)

Question 4

What is an internal rate of return IRR?

Answer 4

A TIME-ADJUSTED rate of return from an investment

Question 5

A financial institution looking to assess its investment portfolio’s exposure to price changes most likely would use which technique?

Answer 5

Market value at risk