Test bank for corporate financial accounting 16th edition by carl s warren author jeff jones_compressed.pdf

TESTBANKv




Corporate FinancialAccounting, 16thEdition
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byCarl S. WarrenJeffJones, AllChapters1 -14,Complete
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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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,Chapter01 -Accounting andBusiness
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1. Acorporationis a business that is legallyseparateanddistinct fromits owners.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering v




QUESTIONTYPE: v True / False v v




HAS VARIABLES:
v False
LEARNINGOBJECTIVES: FNMN.WAJO.19.01 01 -LO:01-01
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ACCREDITINGSTANDARDS: ACCT.ACBSP.APC.03 -Business Forms
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ACCT.AICPA.BB.01 - Industry v v




ACCT.AICPA.FN.03-Measurement BUSPROG: v v v




Analytic v




DATE CREATED:v 7/26/2017 4:27 PM v v




DATE MODIFIED:
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2. Theroleof accountingis toprovidemanydifferent users withfinancialinformationtomakeeconomic decisions.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering v




QUESTIONTYPE: True / False
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HAS VARIABLES:
v False
LEARNINGOBJECTIVES: FNMN.WAJO.19.01 01 -LO:01-01
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ACCREDITINGSTANDARDS: ACCT.ACBSP.APC.01 -Purpose v v v v




ACCT.AICPA.FN.03-Measurement BUSPROG: v v v




Analytic v




DATE CREATED:v 7/26/2017 4:27 PM v v




DATE MODIFIED:
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3. Accountinginformationusers needreports about theeconomicactivities andcondition ofbusinesses.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering v




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, QUESTIONTYPE: v True / False v v




HAS VARIABLES:
v False
LEARNINGOBJECTIVES: v FNMN.WAJO.19.01-01 -LO:01-01 v v v




ACCREDITINGSTANDARDS: ACCT.ACBSP.APC.01 -Purpose
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ACCT.AICPA.BB.01 - Industry v v




ACCT.AICPA.FN.03-Measurement BUSPROG: v v v




Analytic v




DATE CREATED:
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DATE MODIFIED:
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4. Managerialaccountinginformationis usedbyexternalandinternalusers equally.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering v




QUESTIONTYPE: v True / False v v




HAS VARIABLES:
v False
LEARNINGOBJECTIVES: v FNMN.WAJO.19.01 01 -LO:01-01 v v v v




ACCREDITINGSTANDARDS: ACCT.ACBSP.APC.01 -Purpose
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ACCT.ACBSP.APC.25-ManagerialCharacteristics/Terminology ACCT.AICPA.FN.03 - v v v v v




Measurement v




BUSPROG:Analytic v




DATE CREATED:
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DATE MODIFIED:
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5. Senior executives cannot becriminallyprosecutedfor thewrong doings theycommit onbehalf of thecompanies where they
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work.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering v




QUESTIONTYPE: v True / False v v




HAS VARIABLES:
v False
LEARNINGOBJECTIVES: v FNMN.WAJO.19.01 01 -LO:01-01 v v v v




ACCREDITINGSTANDARDS: ACCT.ACBSP.APC.01 -Purpose
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ACCT.AICPA.BB.03 - Legal v v




ACCT.AICPA.FN.03-Measurement BUSPROG: Ethics v v v v




DATE CREATED:
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DATE MODIFIED:
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6. Financialaccountingprovides informationtoallusers, whilethe mainfocus for managerial accountingis to provide
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