| A) | Restricts partners' liabilities to their own acts and the acts of individuals under their control.
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| B) | Every business is accounted for separately from its owner's personal activities.
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| C) | The name for a corporation's shares when only one class of share capital is issued.
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| D) | The task of recording transactions, processing data, and preparing reports for managers; includes preparing financial statements for disclosure to external users.
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| E) | The owners of a corporation.
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| F) | The process of developing formal plans for future activities, which often serve as a basis for evaluating actual performance.
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| G) | A business that is a separate legal entity under provincial or federal laws with owners who are called shareholders.
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| H) | Activity in which suggestions are offered for improving a company's procedures; the suggestions may concern new accounting and internal control systems, new computer systems, budgeting, and employee benefit plans.
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| I) | A commitment to considering the impact and being accountable for the effects that actions might have on society.
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| J) | Accountants who work for a single employer other than the government or a public accounting firm.
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| K) | A business owned by two or more people, which is not organized as a corporation.
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| L) | The part of accounting that involves recording economic transactions and events, either electronically or manually; also called recordkeeping.
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| M) | The area of accounting aimed at serving the decision-making needs of internal users.
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| N) | The recording of financial transactions and events, either manually or electronically; also called bookkeeping.
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| O) | Chartered Accountant; an accountant who has met the examination, education, and experience requirements of the Institute of Chartered Accountants for an individual professionally competent in accounting.
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| P) | Certified General Accountant; an accountant who has met the examination, education, and experience requirements of the Certified General Accountants' Association for an individual professionally competent in accounting.
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| Q) | Certified Management Accountant; an accountant who has met the examination, education, and experience requirements of the Society of Management Accountants for an individual professionally competent in accounting.
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| R) | Sets of guidelines governing the behaviour of the professional.
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| S) | Procedures set up to protect assets, ensure reliable accounting reports, promote efficiency, and encourage adherence to company policies.
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| T) | Includes both general partner(s) with unlimited liability and limited partner(s) with liability restricted to the amount invested.
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| U) | Canada Customs and Revenue Agency; the federal government agency responsible for the collection of tax and enforcement of tax laws.
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| V) | Accountants who work for local, provincial, and federal government agencies.
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| W) | The chief accounting officer of an organization.
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| X) | Beliefs that differentiate right from wrong.
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| Y) | The rules that indicate acceptable accounting practice.
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| Z) | Persons using accounting information who are directly involved in managing and operating an organization; examples include managers and officers.
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| AA) | The field of accounting that includes preparing tax returns and planning future transactions to minimize the amount of tax paid; involves private, public, and government accountants.
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| AB) | A check of an organization's accounting systems and records.
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| AC) | A managerial accounting activity designed to help managers identify, measure, and control operating costs.
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| AD) | Employees within organizations who assess whether managers are following established operating procedures and evaluate the efficiency of operating procedures.
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| AE) | Units of ownership in a corporation.
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| AF) | A business owned by one person, which is not organized as a corporation; also called a single proprietorship.
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| AG) | One or more individuals selling products or services for profit.
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| AH) | Accountants who provide their services to many different clients.
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| AI) | A business owned by one individual, which is not organized as a corporation; also called a sole proprietorship.
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| AJ) | An information system that identifies, measures, records and communicates relevant, reliable, consistent, and comparable information about an organization's economic activities.
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| AK) | The expenses incurred to earn revenues (or sales).
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| AL) | When the debts of a sole proprietorship or partnership are greater than its resources, the owner(s) is (are) financially responsible.
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| AM) | Examine and provide assurance that financial statements are prepared according to generally accepted accounting principles (GAAP).
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| AN) | Persons using accounting information who are not directly involved in the running of the organization; examples include shareholders, customers, regulators, and suppliers.
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| AO) | The area of accounting aimed at serving external users.
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| AP) | The owner's liability is limited to the amount of investment in the business.
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