CCIFP Sample Questions
These are sample questions from the CCIFP Certification Exam. Use these as a jumping off point for your studying!
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XYZ Company has a 10% ownership Interest in a Joint Venture with ABC Company and BCS Company. ABC Company holds a 75% ownership Interest and BCS holds a 15% ownership Interest in the Joint Venture. What accounting method would XYZ & BCS Company use for joint venture transactions?
Consolidation Method
Cost Method
Expanded Equity Method
Equity Method
Clear selection
The practice of unbalanced bidding, is referred to as…
Job Borrow
Overcharging
Front-end Loading
Bidding Below Cost
Clear selection
The portion of total billing that is NOT required to be paid by the owner until certain conditions are met is known as...
Percentage of Completion
Progress Payment
Retention
Early Payment Discount
Clear selection
Which of the following laws relate to the continuation of benefits after the termination of an employee?
Consolidated Omnibus Budget Reconciliation Act of 1985
Patient Protection and Affordable Care Act
Medical Prescription Drug, Improvement and Modernization Act of 2003
Health Insurance Portability and Accountability Act of 1996
Clear selection
When implementing a document imaging or paperless environment, routing refers to…
Copying and sending invoices
Document Tracking
Sending the document to a person or group of people
Storing the image on a server
Clear selection
Which of the following examples is NOT an external limitation when putting together the firm's annual operating budget?
Market Forecasts
Working Capital
Competitors Entering or Leaving the Market
Availability of Qualified Labor Supply
Clear selection
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