PEREGRINE BUSINESS EXAM
QUESTIONS AND ANSWERS GRADED A+
2026
When a business erroneously records expenses as assets, it has violated the measurement issue
of:
A. communication
B. classification
C. valuation
D. recognition - ANS B. classification
A dividend will reduce which of the following accounts?
A. Dividends
B. Retained Earnings
C. Common Stock
D. Accounts Payable - ANS B. Retained Earnings
Liquidity - ANS The degree to which a security can be quickly purchased or sold in the market
at a price reflecting its current value.
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 1
, Sarbanes-Oxley Act - ANS Federal law that established sweeping auditing and financial
regulations for public companies. Lawmakers created the legislation to help protect
shareholders, employees and the public from accounting errors and fraudulent financial
practices.
Continually shifting back and forth between the role of speaker and listener is______.
A. a cultural practice
B. distracting to the speaker
C. called framing
D. making smooth transitions - ANS D. making smooth transitions
The real increases in organizational productivity due to information technology come from
______.
A. the increased speed of message transfer
B. the increased volume of messages
C. the heightened awareness of cultural diversity
D. the ability to communicate in new and different ways - ANS D. the ability to communicate
in new and different ways
Lying by omission involves intentionally:
A. withholding material facts.
B. creating "noise" within the communication that knowingly confuses or deceives the receiver.
C. using highly technical language that the receiver does not understand.
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 2
QUESTIONS AND ANSWERS GRADED A+
2026
When a business erroneously records expenses as assets, it has violated the measurement issue
of:
A. communication
B. classification
C. valuation
D. recognition - ANS B. classification
A dividend will reduce which of the following accounts?
A. Dividends
B. Retained Earnings
C. Common Stock
D. Accounts Payable - ANS B. Retained Earnings
Liquidity - ANS The degree to which a security can be quickly purchased or sold in the market
at a price reflecting its current value.
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 1
, Sarbanes-Oxley Act - ANS Federal law that established sweeping auditing and financial
regulations for public companies. Lawmakers created the legislation to help protect
shareholders, employees and the public from accounting errors and fraudulent financial
practices.
Continually shifting back and forth between the role of speaker and listener is______.
A. a cultural practice
B. distracting to the speaker
C. called framing
D. making smooth transitions - ANS D. making smooth transitions
The real increases in organizational productivity due to information technology come from
______.
A. the increased speed of message transfer
B. the increased volume of messages
C. the heightened awareness of cultural diversity
D. the ability to communicate in new and different ways - ANS D. the ability to communicate
in new and different ways
Lying by omission involves intentionally:
A. withholding material facts.
B. creating "noise" within the communication that knowingly confuses or deceives the receiver.
C. using highly technical language that the receiver does not understand.
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 2
