https://www.stuvia.com/user/papersprime
TEST BANK FOR
Fundamental Accounting Principles, 25th Edition, John Wild
Chapter 1-26
,https://www.stuvia.com/user/papersprime
Answers at the End of Each Chapter
Chapter 01:
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Student name:
1) Which of the following is not accomplished by
accounting?
A) Identifies business activities.
B) Records business activities.
C) Communicates business activities.
D) Eliminates the need for interpreting financial data.
E) Helps people make better decisions.
2) Which of the following is an external user of accounting
information?
A) Purchasing manager.
B) Human resource manager.
C) Lender.
D) Chief executive officer (CEO).
, https://www.stuvia.com/user/papersprime
E) Marketing manager.
3) The primary objective of financial accounting is to:
A) Serve the decision-making needs of internal users.
B) Provide accounting information that serves external
users.
C) Monitor consumer needs, tastes, and price concerns.
D) Provide information on both the costs and benefits of
looking after products and services.
E) Know what, when, and how much product to
produce.
4) The area of accounting aimed at serving the
decisionmaking needs of internal users is:
A) Financial accounting.
B) Managerial accounting.
C) External auditing.
D) SEC reporting.
TEST BANK FOR
Fundamental Accounting Principles, 25th Edition, John Wild
Chapter 1-26
,https://www.stuvia.com/user/papersprime
Answers at the End of Each Chapter
Chapter 01:
,https://www.stuvia.com/user/papersprime
Student name:
1) Which of the following is not accomplished by
accounting?
A) Identifies business activities.
B) Records business activities.
C) Communicates business activities.
D) Eliminates the need for interpreting financial data.
E) Helps people make better decisions.
2) Which of the following is an external user of accounting
information?
A) Purchasing manager.
B) Human resource manager.
C) Lender.
D) Chief executive officer (CEO).
, https://www.stuvia.com/user/papersprime
E) Marketing manager.
3) The primary objective of financial accounting is to:
A) Serve the decision-making needs of internal users.
B) Provide accounting information that serves external
users.
C) Monitor consumer needs, tastes, and price concerns.
D) Provide information on both the costs and benefits of
looking after products and services.
E) Know what, when, and how much product to
produce.
4) The area of accounting aimed at serving the
decisionmaking needs of internal users is:
A) Financial accounting.
B) Managerial accounting.
C) External auditing.
D) SEC reporting.
