College Accounting: A Practical Approach (14th Canadian Edition, Jeffrey Slater & Debra Good) Complete Test Bank with Questions and Answers

TEST BANK FOR
#z #z


COLLEGE #zACCOUNTING #zA #zPRACTICAL #zAPPROACH #z14TH #zCANADIAN #zEDITION
#zJEFFREY #zSLATER, #zDEBRA #zGOO




College #zAccounting, #z14Ce #z(Slater/Good)
Chapter #z1 Accounting #zConcepts #zand #zProcedures: #zAn #zIntroduction

1.1 Defining #zand #zlisting #zthe #zfunctions #zof #zaccounting.

1) Which #zof #zthe #zfollowing #zprofessional #zaccounting #zdesignations #zhas #zbeen #zreplaced #zby #z"CPA"?
A) CA
B) CMA
C) CGA
D) All #zof #zthe
#zabove #zAnswer:

# z D

Diff: #z1 Type:
#zMC #zObjective:

1-1

2) The #ztype #zof #zbusiness #zorganization #zthat #zcan #zcontinue #zindefinitely #zis #zknown #zas #za
A) sole #zproprietorship.
B) partnership.
C) corporation.
D) None #zof #zthe
#zabove. #zAnswer:

# z C

Diff: #z1 Type:
#zMC #zObjective:

1-1

3) This #ztype #zof #zbusiness #zorganization #zis #zsubject #zto #zincome #ztax.
A) sole #zproprietorship.
B) partnership.
C) corporation.
D) All #zof #zthe
#zabove. #zAnswer:

# z C

Diff: #z1 Type:
#zMC #zObjective:

1-1

4) Putting #zthe #zinformation #zinto #zthe #zaccounting #zsystem #zwould #zbe #zcalled
A) analyzing.
B) recording.
C) classifying.
1
Copyright #z© #z2021 #zPearson #zEducation,
#zInc.

,D) summarizing.
Answer: # z # z B
Diff: #z2 Type:
#zMC #zObjective:

1-1




2
Copyright #z© #z2021 #zPearson #zEducation,
#zInc.

,5) The #zpurpose #zof #zthe #zaccounting #zprocess #zis #zto #zprovide #zfinancial #zinformation #zabout
A) sole #zproprietorships.
B) small #zbusinesses.
C) large #zcorporations.
D) All #zof #zthese #zanswers #zare
#zcorrect. #zAnswer: # z D

Diff: #z2 Type:
#zMC #zObjective:

1-1

6) The #zadvantages #zof #za #zcorporation #zdo #zNOT #zinclude
A) limited #zpersonal #zrisk.
B) can #zcontinue #zindefinitely.
C) business #zdecisions #zmade #zby#zcareer #zadministrators.
D) easy#zto #zset
#zup. #zAnswer:

# z D

Diff: #z1 Type:
#zMC #zObjective:

1-1

7) Accounting #zreports #zare #zleast #zhelpful #zin #zanswering #zwhich #zof #zthe #zfollowing #zquestions?
A) How #zmuch #zcash #zwas #zavailable #zat #zthe #zend #zof #zthe #zlast #z year?
B) How #zwell #zwere #zthe #zemployees #ztreated #zby #zmanagement?
C) Did #zthe #zcompany #zmake #za #zprofit #z for #zthe #zprevious #zyear?
D) Can #zthe #zcompany #zpay #zits #zdebts #zon
#ztime? #zAnswer: # z B

Diff: #z3 Type:
#zMC #zObjective:

1-1

8) Accounting #zprovides #zinformation #zto
A) managers.
B) government.
C) investors.
D) All #zof #zthese #zanswers #zare
#zcorrect #zAnswer: # z D

Diff: #z2 Type:
#zMC #zObjective:

1-1

9) Which #zof #zthe #zfollowing #zis #za #zcharacteristic #zof #za #zsole #zproprietorship?
A) Business #zowned #zby #zmore #zthan #zone #zperson
B) Easy #zto #z form
C) Each #zshareholder #zacts #zas #zan #zowner #zof #zthe #zcompany
D) Can #zcontinue
#zindefinitely #zAnswer: # z B



3
Copyright #z© #z2021 #zPearson #zEducation,
#zInc.

, Diff: #z1 Type:
#zMC #zObjective:

1-1




4
Copyright #z© #z2021 #zPearson #zEducation,
#zInc.