Corporate Financial Accounting – 16th Edition (Carl S. Warren, Jeff Jones) – Complete Test Bank for Chapters 1–14

TEST BANK
Corporate Financial Accounting, 16th Edition
by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete




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, Chapter 1:Introduction to Accounting and Business
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Chapter 2:Analyzing Transactions
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Chapter 3:The Adjusting Process
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Chapter 4:The Accounting Cycle
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Chapter 5:Accounting for Retail Businesses
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Chapter 6:Inventories
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Chapter 7:Internal Control and Cash
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Chapter 8:Receivables
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Chapter 9:Long-Term Assets: Fixed and Intangible
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Chapter 10:Liabilities: Current, Installment Notes, and Contingencies
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Chapter 11:Liabilities: Bonds Payable
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Chapter 12:Corporations: Organization, Stock Transactions, and Dividends
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Chapter 13:Statement of Cash Flows
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Chapter 14:Financial Statement Analysis
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,Chapter 01 - Accounting and Business
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1. A corporation is a business that is legally separate and distinct from its owners.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering bp




QUESTION TYPE: bp True / False bp bp




HAS VARIABLES:
bp False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
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ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
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ACCT.AICPA.BB.01 - Industry bp bp




ACCT.AICPA.FN.03 - bp




Measurement BUSPROG: Analytic bp bp bp




DATE CREATED:
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DATE MODIFIED:
bp 10/16/2017 3:33 PM bp bp




2. The role of accounting is to provide many different users with financial information to make economic decisions.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering bp




QUESTION TYPE: True / False
bp bp bp




HAS VARIABLES:
bp False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
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ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose bp b p bp bp




ACCT.AICPA.FN.03 - bp




Measurement BUSPROG: Analytic bp bp bp




DATE CREATED:
bp 7/26/2017 4:27 PM bp bp




DATE MODIFIED:
bp 10/16/2017 3:33 PM bp bp




3. Accounting information users need reports about the economic activities and condition of businesses.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering bp




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, QUESTION TYPE: bp True / False
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HAS VARIABLES:
bp False
LEARNING OBJECTIVES: bp FNMN.WAJO.19.01-01 - LO: 01-01 bp bp bp




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
bp b p bp bp




ACCT.AICPA.BB.01 - Industry bp bp




ACCT.AICPA.FN.03 - bp




Measurement BUSPROG: Analytic bp bp bp




DATE CREATED:
bp 7/26/2017 4:27 PM bp bp




DATE MODIFIED:
bp 10/16/2017 3:33 PM bp bp




4. Managerial accounting information is used by external and internal users equally.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering bp




QUESTION TYPE: bp True / False
bp bp




HAS VARIABLES:
bp False
LEARNING OBJECTIVES: bp FNMN.WAJO.19.01 01 - LO: 01-01 bp bp bp bp




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - bp bp bp bp bp




Measurement bp




BUSPROG: Analytic bp




DATE CREATED:
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DATE MODIFIED:
bp 10/16/2017 3:33 PM bp bp




5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies where
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they work.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering bp




QUESTION TYPE: bp True / False
bp bp




HAS VARIABLES:
bp False
LEARNING OBJECTIVES: bp FNMN.WAJO.19.01 01 - LO: 01-01 bp bp bp bp




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
bp b p bp bp




ACCT.AICPA.BB.03 - Legal bp bp




ACCT.AICPA.FN.03 - bp




Measurement BUSPROG: Ethics bp bp bp




DATE CREATED:
bp 7/26/2017 4:27 PM bp bp




DATE MODIFIED:
bp 10/16/2017 3:33 PM bp bp




Copyright Cengage Learning. Powered by Cognero.
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