COMPLETE TEST BANK FOR FINANCIAL ACCOUNTING FOR MBAS 8TH EDITION BY PETER D. EASTON JOHN J. WILD ||LATEST EDITION WITH VERIFIED ACCURATE ANSWERS TO ALL MODULES.GRADE A+

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Financial Accounting for BAs uo uo uouo




Learning Objectives – Coverage by question uo uo uo uo uo



True/False ultiple Choice
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LO1 – uo


uoExplain and assess the four ain business activities
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.

LO2 – uo
1- 4
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Identify and discuss the users and suppliers of fina
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ncial state ent infor ation.
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LO3 – uo
5-10 3-19
Describe and exa ine the four financial state ents,
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and define the accounting equation.
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LO4 – uo
11-13 20-25
uoExplain and apply the basics of profitability analysis
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.

LO5 – uo
14 26, 27
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Assess business operations within the context of a
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co petitive environ ent.
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LO6 – uo


Access reports filed with the SEC (Appendix 1A).
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LO7 – uo


Describe the accounting principles and regulations
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that fra e financial state ents (Appendix 1B).
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These questions are available to assign in yBusinessCourse.
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, odule 1: Financial Accounting for BAs
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True/False


Topic: Users of Financial State ent Infor ation L
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O: 2 uo


1. Shareholders de and financial infor ation pri arily to assess profitability and risk whereas bankers
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de and infor ation pri arily to assess cash flows to repay loan interest and principal.
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Answer: True uo


Rationale: While both shareholders and bankers are interested in all the infor ation co panies pr
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ovide, shareholders care about ore about a co pany‘s profitability and bankers care ore about
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solvency and creditworthiness.
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Topic: Publicly Available Financial Report
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s LO: 2
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2. Publicly traded co panies are required to provide quarterly financial reports directly to the public.
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Answer: False uo


Rationale: Co panies provide electronic versions of quarterly financial state ents to the SEC, whic
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h posts the to the Internet for the public to access the .
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Topic: Users of Financial State ent Infor ation L
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O: 2 uo


3. Publicly traded co panies provide financial infor ation pri arily to satisfy the SEC and the tax authoriti
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es (that is, the Internal Revenue Service).
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Answer: False uo


Rationale: De and for infor ation extends to any users; the regulators such as the SEC and the I
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RS are only one class of users.
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Topic: SEC Filing uo uo


s LO: 2
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4. Publicly traded co panies ust provide to the Securities Exchange Co ission annual audited financia
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l state ents (10-K reports) and quarterly audited financial state ents (10-Q reports).
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Answer: False uo


Rationale: Quarterly reports do not need to be audited.
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Topic: Balance Shee uo uo


t LO: 3
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5. If a co pany reports retained earnings of $175.3 illion on its balance sheet, it ust also report $17
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5.3 illion in cash. uouo uo uo




Answer: False uo