Exam (elaborations) Fundamental Accounting Principles, 25th Edition, J Fundamental Accounting Principles Volume 2 (Chapters 12-25)

TEST BANK FOR Fundamental Accounting Principles, 25th Edition, John Wild Chapter 1-26 Answers at the End of Each Chapter Chapter 01: Student name: 1) Which of the following is not accomplished by accounting? A) Identifies business activities. B) Records business activities. C) Communicates business activities. D) Eliminates the need for interpreting financial data. E) Helps people make better decisions. 2) Which of the following is an external user of accounting information? A) Purchasing manager. B) Human resource manager. C) Lender. D) Chief executive officer (CEO). E) Marketing manager. 3) The primary objective of financial accounting is to: A) Serve the decision-making needs of internal users. B) Provide accounting information that serves external users. C) Monitor consumer needs, tastes, and price concerns. D) Provide information on both the costs and benefits of looking after products and services. E) Know what, when, and how much product to produce. 4) The area of accounting aimed at serving the decision-making needs of internal users is: A) Financial accounting. B) Managerial accounting. C) External auditing. D) SEC reporting. E) Bookkeeping. 5) Which of the following is not an external user of accounting information? A) Shareholders.