Update: added questions to accounting (#2266)

accounting/accounting-quiz.md

@@ -104,3 +104,75 @@
 - [x] a violation of assignment of responsibility
 - [ ] a violation of segregation of duties
 - [ ] a support process to avoid fraud
+
+#### Q16. A firm has $1,000 in debt and $3,000 in assets. What is the firm's debt-to-equity ratio?
+
+- [ ] 3 
+- [ ] 2 
+- [ ] 0.5 
+- [x] 0.33 
+
+#### Q17. An external auditor is required to be independent when performing
+
+- [ ] all attestation services 
+- [ ] all professional services 
+- [ ] all tax services 
+- [ ] all consulting engagements 
+
+#### Q18. Proper segregation of functional responsibilities calls for separation of 
+
+- [ ] custody, payment, and recording 
+- [ ] authorization, custody, and execution 
+- [ ] authorization, custody, and recording 
+- [ ] custody, execution, and payment 
+
+#### Q19. What does the degree of operating leverage represent?
+
+- [ ] how much the value of capital assets will change in response to a change in sales 
+- [ ] how much the operating income of a company will change in response to a change in sales 
+- [ ] the valuation of assets to determine how much additional debt the company can borrow 
+- [ ] how much the sales of a company will change in response to a change in operating income 
+
+#### Q20. Which characteristic would concern an auditor about the risk of material misstatements arising from fraudulent financial reporting?
+
+- [ ] limited employee turnover within the accounting and finance department 
+- [ ] management's disregard of regulations and regulatory authorities 
+- [ ] regularly reported bank reconciliations, including deposits in transit
+- [ ] capital assets sold at a loss before being depreciated fully 
+
+#### Q21.  An employee who makes a sale, ships the goods, and bills the customer violates which control activity? 
+
+- [ ] assignment of responsibility
+- [ ] audit verification 
+- [ ] segregation of duties
+- [ ] review and reconciliation 
+
+#### Q22. What trait distinguishes auditors from accountants? 
+
+- [ ] The auditor can interpret accounting principles applicable to the country in which the client operates. 
+- [ ] The auditor has extensive education beyond what is required for an accountant
+- [ ] The auditor can adapt to a rapidly changing profession. 
+- [ ] The auditor has expertise in the gathering and interpretation of audit evidence. 
+
+#### Q23. What is the purpose of an operational audit? 
+
+- [ ] assessing the company's compliance with environmental laws and regulations 
+- [ ] evaluating whether the organization is meeting the metrics set by management in order to achieve the goals and objectives set forth by the board of directors 
+- [ ] assessing the organization's control mechanisms for overall efficiency and reliability 
+- [ ] evaluating compliance with applicable laws, regulations, policies, and procedures 
+
+#### Q24. Which statement is false? 
+
+- [ ] The balanced scorecard aligns an organization's operational activities with its mission.
+- [ ] The balanced scorecard focuses on these four primary areas: financial, customer, internal process, and learning and growth. 
+- [ ] The balanced scorecard measures, tracks, and reports on a balance of qualitative and financial data and metrics. 
+- [ ] The balanced scorecard ensures the organization's profitability aligns with director compensation and dividend expectations. 
+
+#### Q25. Which choice is not a component of internal control? 
+
+- [ ] information and communication 
+- [ ] risk mitigation 
+- [ ] monitoring 
+- [ ] control environment 
+
+