TEST BANK FOR Financial Accounting 6th Edition by David Spiceland , Wayne M. Thomas ISBN:978-1260786521 ALL CHAPTERS COVERED YOUR ULTIMATE GUIDE 100% VERIFIED A+ GRADE ASSURED!!!!!! NEW LATEST UPDATE!!!!!!

TEST BANK FOR
VB VB


Financial Accounting 6th Edition by David Spiceland, Wayne Thomas, Don
VB VB VB VB VB VB VB VB VB VB


Herrmann

,ChapterVB1 AVBFrameworkVBforVBFinancialVBAccounting

1) AccountingVBisVBaVBsystemVBofVBmaintainingVBrecordsVBofVBaVBcompany'sVBoperationsVBandVBcomm
unicatingVBthatVBinformationVBtoVBdecisionVBmakers.

Answer:V B TRUEVBD
ifficulty:VB1VBEasy
Topic: DefiningVBAccounting
LearningVBObjective: 01-
01VBDescribeVBtheVBtwoVBprimaryVBfunctionsVBofVBfinancialVBaccounting.VBBloom's:
Remember
AACSB:
ReflectiveVBThinking
VBAICPA:

BBVBCriticalVBThinki
ng

2) AccountingVBinformationVBisVBusedVBbyVBinvestorsVBtoVBdecideVBwhetherVBtoVBinvestVBinVBaVBcompany'sV
Bstock.




Answer:V B TRUEVBD
ifficulty:VB1VBEasy
Topic: DefiningVBAccounting
LearningVBObjective: 01-
01VBDescribeVBtheVBtwoVBprimaryVBfunctionsVBofVBfinancialVBaccounting.VBBloom's:
Remember
AACSB:
ReflectiveVBThinking
VBAICPA:

BBVBCriticalVBThinki
ng

3) AccountingVBinformationVBisVBusedVBbyVBcreditorsVBtoVBdecideVBwhetherVBtoVBinvestVBinVBaVBcompany'sVB
stock.

Answer:V B V B FALSE
Explanation:
CreditorsVBlendVBmoneyVBtoVBaVBcompa
ny.VBDifficulty:VB1VBEasy
Topic: DefiningVBAccounting
LearningVBObjective: 01-
01VBDescribeVBtheVBtwoVBprimaryVBfunctionsVBofVBfinancialVBaccounting.VBBloom's:
Remember
AACSB:
ReflectiveVBThinking
VBAICPA:

BBVBCriticalVBThinki
ng

,4) TheVBprimaryVBfunctionsVBofVBfinancialVBaccountingVBareVBtoVBmeasureVBbusinessVBactivitiesVBofVBaV
BcompanyVBandVBtoVBcommunicateVBthoseVBmeasurementsVBtoVBinternalVBpartiesVBforVBdecision-

makingVBpurposes.

Answer:V B V B FALSE
Explanation:
FinancialVBaccountingVBprimarilyVBservesVBtoVBprovideVBinformationVBtoVBexternalVB
parties.VBDifficulty:VB2VBMedium
Topic: DefiningVBAccounting
LearningVBObjective: 01-01VBDescribeVBtheVBtwoVBprimaryVBfunctionsVBofVBfinancialVBaccounting.

, Bloom's:
UnderstandVBAACSB
:
ReflectiveVBThinking
V
B

VB AICPA:
BBVBCriticalVBThinki
ng

5) FinancingVBactivitiesVBareVBtransactionsVBinvolvingVBexternalVBsourcesVBofVBfunding.

Answer:V B TRUEVBD
ifficulty:VB1VBEasy
Topic: MeasuringVBBusinessVBActivities
LearningVBObjective: 01-
02VBUnderstandVBtheVBbusinessVBactivitiesVBthatVBfinancialVBaccountingVBmeasures.VBBloom's:
Remember
AACSB:
ReflectiveVBThinking
VBAICPA: FNVBMeasurement




6) InvestingVBactivitiesVBincludeVBtheVBpurchaseVBandVBsaleVBofVBlong-termVBresources.

Answer:V B TRUEVBD
ifficulty:VB1VBEasy
Topic: MeasuringVBBusinessVBActivities
LearningVBObjective: 01-
02VBUnderstandVBtheVBbusinessVBactivitiesVBthatVBfinancialVBaccountingVBmeasures.VBBloom's:
Remember
AACSB:
ReflectiveVBThinking
VBAICPA: FNVBMeasurement




7) OperatingVBactivitiesVBincludeVBtransactionsVBthatVBrelateVBtoVBtheVBprimaryVBoperationsVBofVBtheVBcomp
any.

Answer:V B TRUEVBD
ifficulty:VB1VBEasy
Topic: MeasuringVBBusinessVBActivities
LearningVBObjective: 01-
02VBUnderstandVBtheVBbusinessVBactivitiesVBthatVBfinancialVBaccountingVBmeasures.VBBloom's:
Remember
AACSB:
ReflectiveVBThinking
VBAICPA: FNVBMeasurement




8) AVBcorporationVBisVBanVBentityVBthatVBisVBlegallyVBseparateVBfromVBitsVBowners.

Answer:V B TRUEVBD
ifficulty:VB1VBEasy
Topic: MeasuringVBBusinessVBActivities
LearningVBObjective: 01-