Accounting Online Program Study Guide 2026
Everything you need to pass the Accounting Online Program exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 Accounting Online Program Exam Format at a Glance
📚 Accounting Online Program Topics to Study (33)
✍️ Sample Accounting Online Program Questions & Answers
1. The break-even point is reached when:
The break-even point occurs when total revenue equals total costs, meaning the company has neither a profit nor a loss.
2. What does FICA stand for in US payroll tax accounting?
FICA stands for the Federal Insurance Contributions Act and funds Social Security and Medicare through payroll taxes split between employer and employee.
3. In job-order costing, which document accumulates all costs assigned to a specific job?
A job cost sheet records direct materials, direct labor, and applied overhead for each unique job, serving as the subsidiary ledger for work-in-process inventory.
4. Target costing begins with:
Target costing works backward from a competitive market price: target cost = target selling price − desired profit margin, and the product must be designed to meet that cost.
5. Which of the following is an example of a preventive internal control?
Preventive controls, like password requirements, are designed to deter or prevent errors and irregularities before they occur, unlike detective controls that identify them after the fact.
6. The primary purpose of an external audit is to:
External auditors issue an independent opinion on whether financial statements are presented fairly in accordance with GAAP, providing assurance to investors and creditors.
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📖 Accounting Online Program Guides & Articles
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