B. Acy Bachelor of Accountancy Cheat Sheet 2026

The 30 highest-yield B. Acy Bachelor of Accountancy facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Which data analytics technique uses historical data patterns to forecast future outcomes? → Predictive analytics
2. The theory of constraints (TOC) focuses on improving profitability by: → Identifying and managing the system's bottleneck
3. Which costing method assigns actual overhead costs to products as they are incurred throughout the year? → Actual costing
4. A relational database organizes data into: → Two-dimensional tables linked by keys
5. In a make-or-buy decision, which costs are most relevant? → Avoidable costs and opportunity costs
6. Which type of control is BEST designed to detect errors after they have already occurred? → Detective controls
7. In the context of IT systems, which term describes the process of converting data into an unreadable format to protect it from unauthorized access? → Encryption
8. According to the PCAOB standard, issuer auditors must do the → Integrated Audit
9. The margin of safety measures: → How far sales can fall before reaching break-even
10. Under GASB standards, which of the following is classified as a business-type activity in government-wide statements? → Municipal water utility
11. Under the COSO Internal Control – Integrated Framework, which component involves policies and procedures that ensure management directives are carried out? → Control activities
12. Which of the following best describes the 'matching concept' as it applies to financial management decisions? → Financing long-term assets with long-term capital sources
13. Under the equity method of accounting, which event requires the investor to reduce the carrying value of its investment? → Investee declares a cash dividend
14. When preparing a statement of cash flows, how is a gain on sale of equipment classified? → Deducted from net income in operating activities
15. What is the self-employment tax rate applied to net self-employment income up to the Social Security wage base? → 15.3%
16. Which monetary policy action would the Federal Reserve take to stimulate a slowing economy? → Lower the discount rate
17. In a defined benefit pension plan, what is the effect of an actuarial loss on other comprehensive income (OCI)? → OCI decreases
18. Under ASC 842, how does a lessee classify a lease where the lease term is 80% of the asset's remaining economic life? → Finance lease
19. Under PCAOB standards, an auditor of a public company must issue a separate opinion on the company's: → Internal control over financial reporting
20. Under US tax law, what is the standard deduction for a single filer for tax year 2024? → $14,600
21. A client refuses to allow the auditor to confirm accounts receivable. The auditor should: → Perform alternative procedures to obtain sufficient evidence
22. A firm repurchasing its own shares in the open market will most likely cause which of the following? → Earnings per share (EPS) to increase
23. A company's operating cycle is defined as the time required to: → Convert cash into inventory, sell it, and collect receivables
24. What is the purpose of a reconciliation between the governmental fund balance sheet and the government-wide statement of net position? → To explain differences between fund accounting and full accrual reporting
25. Which type of processing records transactions individually as they occur in real time? → Online real-time processing
26. A company's degree of operating leverage (DOL) measures: → The sensitivity of operating income to changes in sales volume
27. Under variable costing, fixed manufacturing overhead is: → Expensed in full in the period incurred
28. Data normalization in database design primarily eliminates: → Redundant data and update anomalies
29. Which component of the audit risk model represents the risk that a material misstatement will not be prevented or detected by the client's internal controls? → Control risk
30. A company operating in a perfectly competitive market will maximize profit by producing at the output level where: → Marginal cost equals marginal revenue