test-bank-and-solutions-for-fundamental-accounting-principles-vol-1-16th-edition-16e-by-larson

1. Accounting is an information system that identifies, measures, records and communicates relevant information that objectively and correctly represents an organization's economic activities. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Describe the purpose and importance of accounting. Topic: 01-02 Power of Accounting 2. Accounting information helps people make better decisions about the performance of a business. TRUE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Describe the purpose and importance of accounting. Topic: 01-02 Power of Accounting 3. The main objective of accounting is to help people to invest in new products and businesses. FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Describe the purpose and importance of accounting. Topic: 01-07 External Information Users Downloaded by SMARTDOVE SMARTDOVE () lOMoARcPSD| Chapter 01 - Accounting in Business For Full Chapters : 1-2 4. Recordkeeping" is another term for "accounting". FALSE Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Describe the purpose and importance of accounting. Topic: 01-03 Focus of Accountin