TEST BANK SURVEY OF ACCOUNTING, 7TH EDITION BY EDMONDS & OLDS ALL CHAPTERS (1-16) QUESTIONS WITH CORRECT ANSWERS | GRADED A+

TEST BANK
SURVEY OF ACCOUNTING, 7TH EDITION BY
EDMONDS & OLDS ALL CHAPTERS (1-16)
QUESTIONS WITH CORRECT ANSWERS | GRADED
A+




1

,TABLE OF CONTENTS
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Chapter 1 An Introduction to Accounting
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Chapter 2 Accounting for Accruals and Deferrals
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Chapter 3 Accounting for Merchandising Businesses
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Chapter 4 Internal Controls, Accounting for Cash, and Ethics
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Chapter 5 Accounting for Receivables and Inventory Cost Flow
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Chapter 6 Accounting for Long-Term Operational Assets
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Chapter 7 Accounting for Liabilities
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Chapter 8 Proprietorships, Partnerships, and Corporations
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Chapter 9 Financial Statement Analysis
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Chapter 10 An Introduction to Management Accounting
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Chapter 11 Cost Behavior, Operating Leverage, and Profitability Analysis
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Chapter 12 Cost Accumulation, Tracing, and Allocation
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Chapter 13 Relevant Information for Special Decisions
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Chapter 14 Planning for Profit and Cost Control
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Chapter 15 Performance Evaluation
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2

,Chapter 16 Planning for Capital Investments
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3

, Chap 01 7e Edmonds
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Answers are at the end of each chapter
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1) WhichQofQtheQfollowingQgroupsQhasQtheQprimaryQresponsibilityQforQestablishingQgenerallyQ
acceptedQaccountingQprinciplesQforQbusinessQentitiesQinQtheQUnitedQStates?
A) SecuritiesQandQExchangeQCommission
B) U.S.QCongress
C) InternationalQAccountingQStandardsQBoard
D) FinancialQAccountingQStandardsQBoard



2) TheQHeritageQCompanyQisQaQmanufacturerQofQofficeQfurniture.QWhichQtermQbestQdescribe
sQHeritage'sQroleQinQsociety?
A) Business
B) RegulatoryQagency
C) Consumer
D) ResourceQowner



3) WhichQresourceQprovidersQlendQfinancialQresourcesQtoQaQbusinessQwithQtheQexpectationQ
ofQrepaymentQwithQinterest?
A) Consumers
B) Creditors
C) Investors
D) Owners



4) WhichQtypeQofQaccountingQinformationQisQintendedQtoQsatisfyQtheQneedsQofQexternalQusersQ
ofQaccountingQinformation?
A) CostQaccounting
B) ManagerialQaccounting
C) TaxQaccounting
D) FinancialQaccounting



5) WhichQofQtheQfollowingQisQfalseQregardingQmanagerialQaccountingQinformation?
A) ItQisQoftenQusedQbyQinvestors.
B) ItQisQmoreQdetailedQthanQfinancialQaccountingQinformation.
C) ItQcanQincludeQnonfinancialQinformation.

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