iWriteGigs

Fresh Grad Lands Job as Real Estate Agent With Help from Professional Writers

People go to websites to get the information they desperately need.  They could be looking for an answer to a nagging question.  They might be looking for help in completing an important task.  For recent graduates, they might be looking for ways on how to prepare a comprehensive resume that can capture the attention of the hiring manager

Manush is a recent graduate from a prestigious university in California who is looking for a job opportunity as a real estate agent.  While he already has samples provided by his friends, he still feels something lacking in his resume.  Specifically, the he believes that his professional objective statement lacks focus and clarity. 

Thus, he sought our assistance in improving editing and proofreading his resume. 

In revising his resume, iwritegigs highlighted his soft skills such as his communication skills, ability to negotiate, patience and tactfulness.  In the professional experience part, our team added some skills that are aligned with the position he is applying for.

When he was chosen for the real estate agent position, he sent us this thank you note:

“Kudos to the team for a job well done.  I am sincerely appreciative of the time and effort you gave on my resume.  You did not only help me land the job I had always been dreaming of but you also made me realize how important adding those specific keywords to my resume!  Cheers!

Manush’s story shows the importance of using powerful keywords to his resume in landing the job he wanted.

Chapter 4 Quiz

Navigation   » List of Schools  »  Glendale Community College  »  Accounting  »  Accounting 101 – Financial Accounting  »  Spring 2021  »  Chapter 4 Quiz

Need help with your exam preparation?

Below are the questions for the exam with the choices of answers:

Question #1
A  Cash received from the issuance of common stock.
B  Cash received from a customer.
C  Cash paid for supplies.
D  Cash received from the sale of a used company truck.
Question #2
A  Hire an independent auditor.
B  Be compensated only when the company is profitable.
C  Work more than 40 hours per week.
D  Personally certify the company’s financial statements.
Question #3
A  An error by the bank.
B  Interest on bank deposit.
C  Deposits outstanding.
D  Checks outstanding.
Question #4
A  Payment of dividends to stockholders.
B  Receipt of cash from bank borrowing.
C  Payment for prepaid insurance.
D  Receipt of cash from selling a building.
Question #5
A  Important documents should be kept in a safe place, and electronic files should be backed up regularly.
B  The company should establish formal guidelines to handle cash receipts and make purchases.
C  Management periodically determines whether the amount of physical assets agree with the accounting records.
D  Employees should be made aware of the company’s internal control policies.
Question #6
A  Require only one signature for larger checks.
B  Ensure checks are serially numbered and signed only by authorized employees.
C  The employee who authorizes payment should also be the employee who prepares the check.
D  Employees responsible for making cash disbursements should also be in charge of cash receipts.
Question #7
A  As creditors of the company.
B  In their own best interest.
C  As owners of the company.
D  As stewards of the company’s assets.
Question #8
A  Allow the company to save cash for major future purchases.
B  Provide a convenient form of payment for the company’s customers.
C  Pay employee salaries at the end of each period.
D  Provide cash on hand for minor expenditures.
Question #9
A  Use accrual-basis accounting.
B  File reports with the Securities and Exchange Commission.
C  File their tax return with the Internal Revenue Service.
D  Use either cash or accrual- basis accounting.
Question #10
A  Enacted the Securities and Exchange Commission.
B  Passed the Sarbanes-Oxley Act.
C  Organized the Internal Revenue Service.
D  Established the Financial Accounting Standards Board.
Question #11
A  Cash paid for supplies.
B  Cash received from the issuance of common stock.
C  Cash received from the sale of a used company truck.
D  Cash received from a customer.
Question #12
A  Cash received from the sale of a used company truck.
B  Cash paid for supplies.
C  Cash received from the issuance of common stock.
D  Cash received from a bank loan.
Question #13
A  Checks received from customers.
B  Debit card sales, checks received from customers and coins and currency.
C  Coins and currency.
D  Debit card sales.
Question #14
A  Increased regulations related to internal control.
B  Increased regulations related to auditor–client relations.
C  Increased regulations related to auditor–client relations, increased regulations related to corporate executive accountability and increased regulations related to internal control.
D  Increased regulations related to corporate executive accountability.
Question #15
A  Payment for a new operating equipment.
B  Repayment of borrowed money.
C  Services provided to customers on account.
D  Payment for employee salaries.
Question #16
A  The employee responsible for making cash disbursements should be in charge of cash receipts.
B  Make all cash disbursements using cash rather than debit cards or credit cards.
C  The employee who authorizes payments should also prepare the check.
D  Set maximum purchase limits on debit cards and credit cards.
Question #17
A  Respond quickly to new opportunities.
B  Maintain normal operations.
C  Prevent bankruptcy.
D  Maintain normal operations, respond quickly to new opportunities and prevent bankruptcy.
Question #18
A  The amount of cash withdrawn from the fund during the accounting period.
B  All vouchers written during the accounting period.
C  The established balance of the fund less all vouchers written during the accounting period.
D  The amount of cash used to establish the fund.
Question #19
A  Accounts receivable.
B  Investments with maturity dates greater than three months.
C  Accounts payable.
D  Checks received from customers.
Question #20
A  Subtracted from the bank’s cash balance.
B  Added to the bank’s cash balance.
C  Added to the company’s cash balance.
D  Subtracted from the company’s cash balance.
Question #21
A  Deposits outstanding.
B  NSF check.
C  Interest on bank deposit.
D    
E  Bank service fees.
Question #22
A  Added to the bank’s cash balance.
B    
C  Subtracted from the bank’s cash balance.
D  Added to the company’s cash balance.
E  Subtracted from the company’s cash balance.
Question #23
A  Cash held in the bank.
B  Cash used to pay employee salaries.
C  Cash on hand to pay for minor purchases.
D  Investment in short-term securities.
Question #24
A  Provide healthcare for employees.
B  File their tax return with the Internal Revenue Service.
C  Provide financial statements.
D  Document and assess internal controls.
Question #25
A  Allowing customers to pay with a debit card.
B  Recording cash receipts as soon as they are received.
C  Allowing customers to pay with a credit card.
D  Requiring the employee receiving the cash from the customer to also deposit the cash into the company’s bank account.
Question #26
A  An error by the company.
B  Service fees.
C  Checks outstanding.
D  NSF checks.
Question #27
A  Fictitious revenues from a fake customer.
B  Improper asset valuation, fictitious revenues from a fake customer and mismatching revenues and expenses.
C  Improper asset valuation.
D  Mismatching revenues and expenses.
Question #28
A  Accounting errors made by the bank.
B  Accounting errors made by the company.
C  Cash theft by the company’s employees.
D  Timing differences of recording cash transactions by the company and by the bank.
Question #29
A  Cash sales to customers.
B  Payment for advertising.
C  Payment of dividends to stockholders.
D  Payment for land.
Question #31
A  Only checks are used for payment of purchases and the same person who makes deposits should also record the deposits.
B  The person who makes deposits should NOT record the deposits.
C  Only checks are used for payment of purchases.
D  The same person who makes deposits should also record the deposits.
Question #32
A  The risk of failing to achieve company objectives.
B  The ethical tone set by top management.
C  Accountability through separation of duties.
D  The reliability of financial information.
Question #33
A  Amounts held in checking accounts.
B  Credit card purchases.
C  Prepaid insurance.
D  Investments in a 6-month Certificate of Deposit.
Question #34
A  Cash is debited.
B  Retained Earnings is debited.
C  Expenses are credited.
D  Accounts Payable is credited.
Question #35
A  The company’s financial accountant should not share information with the company’s tax accountant.
B  The external auditors of the company should have no contact with managers while the audit is taking place.
C  Employee fraud is less likely to occur when access to assets and access to accounting records are separated.
D  Duties of middle-level managers of the company should be clearly separated from those of top executives.
Question #36
A  An error by the bank.
B  Interest earned.
C  Deposits outstanding.
D  Checks outstanding.
Question #37
A  The company’s external auditors.
B  The company’s top executives.
C  The company’s board of directors.
D  The company’s stockholders.
Question #38
A  Cash.
B  Supplies.
C  Supplies Expense.
D  Accounts Payable.
Question #39
A  Corporate scandals involving unethical behavior of top executives.
B  Increasing inflation.
C  Increasing pressure of foreign competition for American products and services.
D  The establishment of the Securities and Exchange Commission (SEC).
Question #40
A  To improve the accuracy and reliability of accounting information.
B  To help managers determine which projects are likely to be more profitable.
C  To minimize tax payments to the Internal Revenue Service (IRS).
D  To assist top executives in planning employment capacity.