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Corporate Financial
ST
Accounting, 16th Edition
UV
TEST BANK
IA
Carl S. Warren, Jeff Jones
_A
Comprehensive Test Bank for Instructors
PP
and Students
||| ||| || ||| || | || ||| | || ||| |
RO
9780357510384
VE
© Carl S. Warren & Jeff Jones. All rights reserved.
Reproduction or distribution without permission is
prohibited.
D?
© MEDGEEK
, TABLE OF CONTENTS
Test Bank – Corporate Financial Accounting (16th Edition)
Authors: Carl S. Warren and Jeff Jones
ISBN: 9780357510384
ST
PART I: THE ACCOUNTING CYCLE
Chapter 1: Introduction to Accounting and Business
Chapter 2: Analyzing Transactions
UV
Chapter 3: The Adjusting Process
Chapter 4: The Accounting Cycle
PART II: ASSETS AND INTERNAL CONTROLS
Chapter 5: Accounting for Retail Businesses
IA
Chapter 6: Inventories
Chapter 7: Internal Control and Cash
Chapter 8: Receivables
Chapter 9: Long-Term Assets: Fixed and Intangible
_A
PART III: LIABILITIES AND EQUITY
Chapter 10: Liabilities: Current, Installment Notes, and Contingencies
Chapter 11: Liabilities: Bonds Payable
PP
Chapter 12: Corporations: Organization, Stock Transactions, and Dividends
PART IV: ANALYSIS AND REPORTING
Chapter 13: Statement of Cash Flows
RO
Chapter 14: Financial Statement Analysis
VE
D?
, TEST BANK FOR
Corporate Financial Accounting, 16th Edition by Carl S. Warren (Author), Jeff Jones
Chapter 01 - Accounting and Business
ST
1. A corporation is a business that is legally separate and distinct from its owners.
a. True
b. False
ANSWER: True
UV
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: FNMN.WAJO.19.01-01 - LO: 01-01
IA
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
ACCT.AICPA.BB.01 - Industry
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
_A
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
PP
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
RO
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
VE
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
DATE CREATED: 7/26/2017 4:27 PM
DATE MODIFIED: 10/16/2017 3:33 PM
D?
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 1
, 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
ST
DATE MODIFIED: 10/16/2017 3:33 PM
4. Managerial accounting information is used by external and internal users equally.
a. True
UV
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering
IA
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: FNMN.WAJO.19.01-01 - LO: 01-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
_A
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
PP
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies where
they work.
a. True
b. False
RO
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering
QUESTION TYPE: True / False
VE
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
D?
BUSPROG: Ethics
DATE CREATED: 7/26/2017 4:27 PM
DATE MODIFIED: 10/16/2017 3:33 PM
6. Financial accounting provides information to all users, while the main focus for managerial accounting is to provide
information to the management.
a. True
Copyright Cengage Learning. Powered by Cognero. Page 2
Corporate Financial
ST
Accounting, 16th Edition
UV
TEST BANK
IA
Carl S. Warren, Jeff Jones
_A
Comprehensive Test Bank for Instructors
PP
and Students
||| ||| || ||| || | || ||| | || ||| |
RO
9780357510384
VE
© Carl S. Warren & Jeff Jones. All rights reserved.
Reproduction or distribution without permission is
prohibited.
D?
© MEDGEEK
, TABLE OF CONTENTS
Test Bank – Corporate Financial Accounting (16th Edition)
Authors: Carl S. Warren and Jeff Jones
ISBN: 9780357510384
ST
PART I: THE ACCOUNTING CYCLE
Chapter 1: Introduction to Accounting and Business
Chapter 2: Analyzing Transactions
UV
Chapter 3: The Adjusting Process
Chapter 4: The Accounting Cycle
PART II: ASSETS AND INTERNAL CONTROLS
Chapter 5: Accounting for Retail Businesses
IA
Chapter 6: Inventories
Chapter 7: Internal Control and Cash
Chapter 8: Receivables
Chapter 9: Long-Term Assets: Fixed and Intangible
_A
PART III: LIABILITIES AND EQUITY
Chapter 10: Liabilities: Current, Installment Notes, and Contingencies
Chapter 11: Liabilities: Bonds Payable
PP
Chapter 12: Corporations: Organization, Stock Transactions, and Dividends
PART IV: ANALYSIS AND REPORTING
Chapter 13: Statement of Cash Flows
RO
Chapter 14: Financial Statement Analysis
VE
D?
, TEST BANK FOR
Corporate Financial Accounting, 16th Edition by Carl S. Warren (Author), Jeff Jones
Chapter 01 - Accounting and Business
ST
1. A corporation is a business that is legally separate and distinct from its owners.
a. True
b. False
ANSWER: True
UV
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: FNMN.WAJO.19.01-01 - LO: 01-01
IA
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
ACCT.AICPA.BB.01 - Industry
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
_A
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
PP
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
RO
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
VE
ACCT.AICPA.FN.03 - Measurement
BUSPROG: Analytic
DATE CREATED: 7/26/2017 4:27 PM
DATE MODIFIED: 10/16/2017 3:33 PM
D?
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 1
, 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
ST
DATE MODIFIED: 10/16/2017 3:33 PM
4. Managerial accounting information is used by external and internal users equally.
a. True
UV
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering
IA
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: FNMN.WAJO.19.01-01 - LO: 01-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
_A
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
PP
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies where
they work.
a. True
b. False
RO
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering
QUESTION TYPE: True / False
VE
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
D?
BUSPROG: Ethics
DATE CREATED: 7/26/2017 4:27 PM
DATE MODIFIED: 10/16/2017 3:33 PM
6. Financial accounting provides information to all users, while the main focus for managerial accounting is to provide
information to the management.
a. True
Copyright Cengage Learning. Powered by Cognero. Page 2
