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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Copyright Cengage Learning. Powered by Cognero.
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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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Copyright Cengage Learning. Powered by Cognero.
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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.
n n n n n n n n n n n n n
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering n
QUESTION TYPE: n True / False n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
n n n n n
ACCT.AICPA.BB.01 - Industry n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
2. The role of accounting is to provide many different users with financial information to make economic decisions.
n n n n n n n n n n n n n n n n
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering n
QUESTION TYPE: n True / False n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
3. Accounting information users need reports about the economic activities and condition of businesses.
n n n n n n n n n n n n
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering n
Copyright Cengage Learning. Powered by Cognero.
n n n n n Page 3
n
, QUESTION TYPE: n True / False
n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01-01 - LO: 01-01 n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.AICPA.BB.01 - Industry n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
4. Managerial accounting information is used by external and internal users equally.
n n n n n n n n n n
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingn
QUESTION TYPE: n True / False
n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - n n n n n
Measurement n
BUSPROG: Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies where
n n n n n n n n n n n n n n n n n
they work.
n n
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingn
QUESTION TYPE: n True / False
n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.AICPA.BB.03 - Legal n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Ethics n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
Copyright Cengage Learning. Powered by Cognero.
n n n n n Page 4
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n
Corporate Financial Accounting, 16th Edition
n n n n
by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete
n n n n n n n n n n n
Copyright Cengage Learning. Powered by Cognero.
n n n n n Page 1
n
, Chapter 1:Introduction to Accounting and Business
n n n n n
Chapter 2:Analyzing Transactions
n n
Chapter 3:The Adjusting Process
n n n
Chapter 4:The Accounting Cycle
n n n
Chapter 5:Accounting for Retail Businesses
n n n n
Chapter 6:Inventories
n
Chapter 7:Internal Control and Cash
n n n n
Chapter 8:Receivables
n
Chapter 9:Long-Term Assets: Fixed and Intangible
n n n n n
Chapter 10:Liabilities: Current, Installment Notes, and Contingencies
n n n n n n
Chapter 11:Liabilities: Bonds Payable
n n n
Chapter 12:Corporations: Organization, Stock Transactions, and Dividends
n n n n n n
Chapter 13:Statement of Cash Flows
n n n n
Chapter 14:Financial Statement Analysis
n n n
Copyright Cengage Learning. Powered by Cognero.
n n n n n Page 2
n
,Chapter 01 - Accounting and Business
n n n n n
1. A corporation is a business that is legally separate and distinct from its owners.
n n n n n n n n n n n n n
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering n
QUESTION TYPE: n True / False n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
n n n n n
ACCT.AICPA.BB.01 - Industry n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
2. The role of accounting is to provide many different users with financial information to make economic decisions.
n n n n n n n n n n n n n n n n
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering n
QUESTION TYPE: n True / False n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
3. Accounting information users need reports about the economic activities and condition of businesses.
n n n n n n n n n n n n
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering n
Copyright Cengage Learning. Powered by Cognero.
n n n n n Page 3
n
, QUESTION TYPE: n True / False
n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01-01 - LO: 01-01 n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.AICPA.BB.01 - Industry n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
4. Managerial accounting information is used by external and internal users equally.
n n n n n n n n n n
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingn
QUESTION TYPE: n True / False
n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - n n n n n
Measurement n
BUSPROG: Analytic n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies where
n n n n n n n n n n n n n n n n n
they work.
n n
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingn
QUESTION TYPE: n True / False
n n
HAS VARIABLES:
n False
LEARNING OBJECTIVES: n FNMN.WAJO.19.01 01 - LO: 01-01 n n n n
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
n n n n
ACCT.AICPA.BB.03 - Legal n n
ACCT.AICPA.FN.03 - Measurement BUSPROG: n n n
Ethics n
DATE CREATED:
n 7/26/2017 4:27 PM n n
DATE MODIFIED:
n 10/16/2017 3:33 PM n n
Copyright Cengage Learning. Powered by Cognero.
n n n n n Page 4
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