Solutions for Fundamental Accounting Principles Volume 1, 17th Canadian Edition by Larson.pdf

DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 1 17th E
m m m m m m m m m m m

dition Larson m


Fundamental Accounting Principles Volume 1 17th Edition
m m m m m m



by Larson Ch01
m m


TRUE/FALSE m-mWritem'T'mif mthemstatementmismtruemandm'F'mif mthemstatementmismfalse.
1) Accountingmismanminformationmsystemmthat midentifies,mmeasures,mrecordsmand mcommunicat
esmrelevant minformationmthat mobjectivelymand mcorrectlymrepresentsmanmorganization's meconomicmact
ivities.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation
LearningmObjectivem:m01-
01 mDescribemthempurposemand mimportance mof maccounting.mTopicm:m01-
02 mPowermof mAccounting
Bloom'sm:mRemembermDi
fficulty m:mEasy



2) Accountingminformationmhelpsmpeoplemmakembettermdecisionsmabout mthemperformancemof
mambusiness.



⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation
LearningmObjectivem:m01-
01 mDescribemthempurposemand mimportance mof maccounting.mTopicm:m01-
02 mPowermof mAccounting
Bloom'sm:mRemembermDi
fficulty m:mEasy



3) Themmainmobjectivemof maccountingmismtomhelpmpeoplemtominvest minmnew mproductsma
nd mbusinesses.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation
LearningmObjectivem:m01-
01 mDescribemthempurposemand mimportance mof maccounting.mBloom'sm: mRemember
Difficulty m:mEasy
Topicm:m01-07 mExternalmInformation mUsers




Versionm1 1
mynursytest.store

,DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 1 17th E
m m m m m m m m m m m

dition Larson m


Fundamental Accounting Principles Volume 1 17th Edition
m m m m m m



by Larson Ch01
m m


4) Recordkeeping"mismanothermtermmform"accounting".

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation
LearningmObjectivem:m01-
01 mDescribemthempurposemand mimportance mof maccounting.mBloom'sm: mRemember
Difficulty m:mEasy
Topicm:m01-03 mFocusmof mAccounting



5) A msolemproprietorshipmismambusinessmowned mbymonemormmorempersons.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
Difficulty m:mEasy
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mTopicm:m01-
05 mBusinessmOrganizations



6) A mpartnershipmrequiresmnomspecialmlegalmrequirementsmtomstart,mothermthanmtomregistermt
hembusinessmnamemand mobtainmambusinessmlicense.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
Difficulty m:mEasy
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mTopicm:m01-
05 mBusinessmOrganizations



7) Ownershipmof mamcorporationmismdivided mintomunitsmcalled mshares.

⊚ true
⊚ false

Versionm1 2
mynursytest.store

,DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 1 17th E
m m m m m m m m m m m

dition Larson m


Fundamental Accounting Principles Volume 1 17th Edition
m m m m m m



by Larson Ch01
m m




QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
Difficulty m:mEasy
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mTopicm:m01-
05 mBusinessmOrganizations



8) Inmthempartnershipmformmof mbusiness,mthemownersmof mambusinessmaremcalled mshareholders.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
Difficulty m:mEasy
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mTopicm:m01-
05 mBusinessmOrganizations



9) Unlimited mliabilitymismanmadvantagemformbothmamproprietorshipmand mampartnership.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mTopicm:m01-
05 mBusinessmOrganizations
Difficulty m:mMedium



10) Althoughmamproprietorshipmismnot mamseparatemlegalmentity,mampartnershipmis.

⊚ true
⊚ false




Versionm1 3
mynursytest.store

, DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 1 17th E
m m m m m m m m m m m

dition Larson m


Fundamental Accounting Principles Volume 1 17th Edition
m m m m m m



by Larson Ch01
m m




QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mTopicm:m01-
05 mBusinessmOrganizations
Difficulty m:mMedium



11) A mcorporationmismresponsiblemformitsmactionsmand manymdebtsmincurred.mIt mcanmentermintom
itsmownmcontracts,mand mit mcanmbuy,mown,mand msellmproperty.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mTopicm:m01-
05 mBusinessmOrganizations
Difficulty m:mMedium



12) Non-businessmorganizationsmoftenmoperatemeducationalmand mreligiousmservicesmformprofit.

⊚ true
⊚ false

QuestionmDetails
Accessibility m:mKeyboard mNavigation mBlo
om'sm:mRemember
LearningmObjectivem:m01-
02 mDescribemformsmof mbusinessmorganization.mDifficulty m:mMedium
Topicm:m01-04 mFormsmof mOrganization



13) Solemproprietorshipsmand mpartnershipsmaremnot msubject mtomincomemtaxminmCanada.

⊚ true
⊚ false




Versionm1 4
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