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