Test Bank for Corporate Financial Accounting, 16th Edition by Carl S. Warren, Jeff Jones

TEST BANK
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Corporate Financial Accounting, 16th Edition
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by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete
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, Chapter’1:Introduction’to’Accounting’and’Business

Chapter’2:Analyzing’Transactions

Chapter’3:The’Adjusting’Process

Chapter’4:The’Accounting’Cycle

Chapter’5:Accounting’for’Retail’Businesses

Chapter’6:Inventories

Chapter’7:Internal’Control’and’Cash

Chapter’8:Receivables

Chapter’9:Long-Term’Assets:’Fixed’and’Intangible

Chapter’10:Liabilities:’Current,’Installment’Notes,’and’Contingencies

Chapter’11:Liabilities:’Bonds’Payable

Chapter’12:Corporations:’Organization,’Stock’Transactions,’and’Dividends

Chapter’13:Statement’of’Cash’Flows

Chapter’14:Financial’Statement’Analysis




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,Chapter’01’-’Accounting’and’Business

1. A’corporation’is’a’business’that’is’legally’separate’and’distinct’from’its’owners.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's:’Remembering
QUESTION’TYPE: True’/’False
HAS’VARIABLES: False
LEARNING’OBJECTIVES: FNMN.WAJO.19.01’ 01’-’LO:’01-01
ACCREDITING’STANDARDS:’ ACCT.ACBSP.APC.03’-’Business’Forms
ACCT.AICPA.BB.01’-’Industry
ACCT.AICPA.FN.03’-
’Measurement’BUSPROG:’Analytic

DATE’CREATED: 7/26/2017’4:27’PM
DATE’MODIFIED: 10/16/2017’3:33’PM

2. The’role’of’accounting’is’to’provide’many’different’users’with’financial’information’to’make’economic’decisions.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's:’Remembering
QUESTION’TYPE: True’/’False
HAS’VARIABLES: False
LEARNING’OBJECTIVES: FNMN.WAJO.19.01’ 01’-’LO:’01-01
ACCREDITING’STANDARDS:’ ACCT.ACBSP.APC.01’-’Purpose
ACCT.AICPA.FN.03’-
’Measurement’BUSPROG:’Analytic

DATE’CREATED: 7/26/2017’4:27’PM
DATE’MODIFIED: 10/16/2017’3:33’PM

3. Accounting’information’users’need’reports’about’the’economic’activities’and’condition’of’businesses.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's:’Remembering
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, QUESTION’TYPE: True’/’False
HAS’VARIABLES: False
LEARNING’OBJECTIVES: FNMN.WAJO.19.01-01’-’LO:’01-01
ACCREDITING’STANDARDS:’ ACCT.ACBSP.APC.01’-’Purpose
ACCT.AICPA.BB.01’-’Industry
ACCT.AICPA.FN.03’-
’Measurement’BUSPROG:’Analytic

DATE’CREATED: 7/26/2017’4:27’PM
DATE’MODIFIED: 10/16/2017’3:33’PM

4. Managerial’accounting’information’is’used’by’external’and’internal’users’equally.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's:’Remembering
QUESTION’TYPE: True’/’False
HAS’VARIABLES: False
LEARNING’OBJECTIVES: FNMN.WAJO.19.01’ 01’-’LO:’01-01
ACCREDITING’STANDARDS:’ ACCT.ACBSP.APC.01’-’Purpose
ACCT.ACBSP.APC.25’-’Managerial’Characteristics/Terminology’ACCT.AICPA.FN.03’-
’Measurement
BUSPROG:’Analytic
DATE’CREATED: 7/26/2017’4:27’PM
DATE’MODIFIED: 10/16/2017’3:33’PM

5. Senior’executives’cannot’be’criminally’prosecuted’for’the’wrong’doings’they’commit’on’behalf’of’the’companies’where’t
hey’work.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's:’Remembering
QUESTION’TYPE: True’/’False
HAS’VARIABLES: False
LEARNING’OBJECTIVES: FNMN.WAJO.19.01’ 01’-’LO:’01-01
ACCREDITING’STANDARDS:’ ACCT.ACBSP.APC.01’-’Purpose
ACCT.AICPA.BB.03’-’Legal
ACCT.AICPA.FN.03’-
’Measurement’BUSPROG:’Ethics

DATE’CREATED: 7/26/2017’4:27’PM
DATE’MODIFIED: 10/16/2017’3:33’PM


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