TEST BANK for Financial Accounting for MBAs 8th Edition by Peter Easton & John Wild contains verified questions and answers graded A+

TEST BANK FOR FINANCIAL ACCOUNTING FOR
xx xx xx xx xx



MBAS 8TH EDITION BY EASTON
xx xx xx xx xx

, Module 1 xx




Financial Accounting for MBAs xx xx xx




Learning Objs – Coverage by question
xx xx xx xx xx


True/False Multiple xxChoice


LO1 xx– xxExplain xxand xxassess xxthe xxfour xxmain
xxbusiness xxactivities.




LO2 xx– xxIdentify xxand xxdiscuss xxthe xxusers xxand
1- xx4 1, xx2
xxsuppliers xxof xxfinancial xx statement xx information.




LO3 xx– xxDescribe xxand xxexamine xxthe xxfour xxfinancial
5-10 3-19
xxstatements, xxand xxdefine xxthe xxaccounting xxequation.




LO4 xx– xxExplain xxand xxapply xxthe xxbasics xxof
11-13 20-25
xxprofitability xxanalysis.




LO5 xx– xxAssess xxbusiness xxoperations xxwithin xxthe
14 26, xx27
xxcontext xxof xx a xxcompetitive xx environment.




LO6 xx– xxAccess xxreports xxfiled xxwith xxthe xxSEC
xx(Appendix xx1A).




LO7 xx– xxDescribe xxthe xxaccounting xxprinciples
xxand xxregulations xxthat xxframe xxfinancial xxstatements 15 28-30
xx(Appendix xx1B).




These xxquestions xxare xxavailable xxto xxassign xxin xxmyBusinessCourse.




© xxCambridge xxBusiness xxPublishers, xx2021
1-1 Financial xxAccounting xxfor xxMBAs, xx8th xxEdition

,Module 1: Financial Accounting for MBAs
xx xx xx xx xx




True/False


TOPIC:Users xxof xxFinancial xxStatement xxInformation xx LO:
2
1. Shareholders xxdemand xxfinancial xxinformation xxprimarily xxto xxassess xxprofitability xxand xxrisk
xxwhereas xxbankers xxdemand xxinformation xxprimarily xxto xxassess xxcash xxflows xxto xxrepay xxloan

xxinterest xxand xxprincipal.



ACCURATE xxANSWER:-True
Reasoning:->>->>>While xxboth xxshareholders xxand xxbankers xxare xxinterested xxin xxall xxthe
xxinformation xxcompanies xxprovide, xxshareholders xxcare xxabout xxmore xxabout xxa xxfirm’s

xxprofitability xxand xxbankers xxcare xxmore xxabout xxsolvency xxand xxcreditworthiness.




TOPIC:Publicly xxAvailable xxFinancial
xxReports xxLO: xx2

2. Publicly xxtraded xxcompanies xxare xxrequired xxto xxprovide xxquarterly xxfinancial xxreports xxdirectly xxto xxthe xxpublic.

ACCURATE xxANSWER:-False
Reasoning:->>->>>Companies xxprovide xxelectronic xxversions xxof xxquarterly xxfinancial xxstatements
xxto xxthe xxSEC, xxwhich xxposts xxthem xxto xxthe xxInternet xxfor xxthe xxpublic xxto xxaccess xxthem.




TOPIC:Users xxof xxFinancial xxStatement xxInformation xx LO:
2
3. Publicly x x traded x x companies x x provide x x financial x x information x x primarily x x to x x satisfy
x x the x x SEC x x and x x the x x tax xxauthorities xx(that xxis, xxthe xxInternal xxRevenue xxService).



ACCURATE xxANSWER:-False
Reasoning xx:->>->>>Demand xxfor xxinformation xxextends xxto xxmany xxusers; xxthe xxregulators xxsuch
xxas xxthe xxSEC xxand xxthe xxIRS xxare xxonly xxone xxclass xxof xxusers.




TOPIC:SEC xxFilings xxLO:
2
4. Publicly x x traded x x companies x x must x x provide x x to x x the x x Securities x x Exchange
x x Commission x x annual x x audited xxfinancial xxstatements xx(10-K xxreports) xxand xxquarterly

xxaudited xxfinancial xxstatements xx(10-Q xxreports).



ACCURATE xxANSWER:-False
Reasoning:->>->>>Quarterly xxreports xxdo xxnot xxneed xxto xxbe xxaudited.


TOPIC:Balance
xxSheet xxLO: xx3

5. If x x a x x firm x x reports x x retained xx earnings xx of xx $175.3 xx million xx on xx its xx balance xx sheet, xx it
x x must x x also x x report

$175.3 xxmillion xxin xxcash.

ACCURATE xxANSWER:-False
Reasoning:->>->>>The xxaccounting xxequation xxrequires xxtotal xxassets xxto xxequal xxtotal xxliabilities
xxplus xxstockholders’ xxequity. xxThat xxdoes xxnot xximply, xxhowever, xxthat xxliability xxand xxequity

xxaccounts xxrelate xxdirectly xxto xxspecific xxassets.

, © xxCambridge xxBusiness xxPublishers, xx2021
Test xxBank xx(T/F xx& xxMC), xxModule xx1 1-2