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Accounting: What
ST
the Numbers Mean,
UV
13th Edition
IA
TEST BANK
_A
David Marshall, Wayne McManus, Daniel Viele
PP
Comprehensive Test Bank for Instructors
RO
and Students
||| ||| || ||| || | || ||| | || ||| |
VE
9781264126743
© David Marshall, Wayne McManus & Daniel Viele. All rights
D?
reserved. Reproduction or distribution without permission is
prohibited.
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Accounting: What the Numbers Mean (13th Ed.)
Authors: David Marshall, Wayne McManus, and Daniel Viele
ISBN: 9781264126743
ST
PART I: FINANCIAL ACCOUNTING FUNDAMENTALS
Chapter 1: Accounting—Present and Past
Chapter 2: Financial Statements and Accounting Concepts/Principles
UV
Chapter 3: Fundamental Interpretations Made from Financial Statement Data
Chapter 4: The Bookkeeping Process and Transaction Analysis
PART II: ASSETS, LIABILITIES, AND EQUITY
Chapter 5: Accounting for and Presentation of Current Assets
IA
Chapter 6: Accounting for and Presentation of Property, Plant, and Equipment, and Other Noncurrent
Assets
Chapter 7: Accounting for and Presentation of Liabilities
Chapter 8: Accounting for and Presentation of Stockholders’ Equity
_A
PART III: REPORTING AND ANALYSIS
Chapter 9: The Income Statement and the Statement of Cash Flows
Chapter 10: Corporate Governance, Notes to the Financial Statements, and Other Disclosures
PP
Chapter 11: Financial Statement Analysis
PART IV: MANAGERIAL ACCOUNTING AND COST MANAGEMENT
Chapter 12: Managerial Accounting and Cost–Volume–Profit Relationships
RO
Chapter 13: Cost Accounting and Reporting
Chapter 14: Cost Planning
Chapter 15: Cost Control
Chapter 16: Costs for Decision Making
VE
D?
, Test Bank Accounting: What the Numbers Mean, 13th Edition by David Marshall
Chapter 01 13e Answers Included ✅
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Which of the following entities wouldnot require accounting information pertaining to
ST
their economic activities?
A) Social clubs
UV
B) Not-for-profit entities
C) State governments
D) Small businesses
E) All of these entities require accounting information.
IA
2) The authoritative financial accounting standards-setting body in the United States is
presently the:
_A
A) Public Company Accounting Oversights Board (PCAOB)
B) Financial Accounting Standards Board (FASB)
C) Accounting Principles Board (APB)
PP
D) Securities and Exchange Commission (SEC)
E) International Accounting Standards Board (IASB)
RO
3) Which of the following statements about the Financial Accounting Standards Board is
correct?
A) The FASB follows a due process procedure that permits input from interested parties
VE
before an Accounting Standards Update (ASU) is issued.
B) The FASB is controlled by the American Institute of CPAs.
C) The FASB is an agency of the Federal government.
D) The FASB has the authority to fine a noncompliant firm.
D?
4) Major classifications of accounting activity wouldnot include:
1
, A) financial accounting, internal auditing, public accounting.
B) internal auditing, governmental accounting, managerial accounting.
C) financial accounting, national accounting, cost accounting.
D) auditing, income tax accounting, governmental accounting.
ST
5) Which of the following isnot an example of a decision or informed judgment that a
UV
potential investor would make from accounting information?
A) A forecast of dividends
B) Assessment of risk that a company may have more debt than it can repay if the
IA
economy enters a recession
C) Future profitability based on past profitability
D) Probability of success of a new product development
_A
6) Which of the following isnot an example of a decision or informed judgment that a
potential employee could make from accounting information?
PP
A) The extent of the company's commitment to a research program
B) Personnel turnover statistics (i.e., hiring and terminations)
C) Probability of the company's ability to make profit sharing plan contributions in the
RO
future
D) Assessment of the risk that the company may become bankrupt in the near future
7) Which of the following are qualified to express an auditor's opinion about an entity's
VE
financial statements?
A) A Comptroller
D?
B) A Certified Management Accountant
C) A Certified Internal Auditor
D) A Certified Public Accountant
2
Accounting: What
ST
the Numbers Mean,
UV
13th Edition
IA
TEST BANK
_A
David Marshall, Wayne McManus, Daniel Viele
PP
Comprehensive Test Bank for Instructors
RO
and Students
||| ||| || ||| || | || ||| | || ||| |
VE
9781264126743
© David Marshall, Wayne McManus & Daniel Viele. All rights
D?
reserved. Reproduction or distribution without permission is
prohibited.
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Accounting: What the Numbers Mean (13th Ed.)
Authors: David Marshall, Wayne McManus, and Daniel Viele
ISBN: 9781264126743
ST
PART I: FINANCIAL ACCOUNTING FUNDAMENTALS
Chapter 1: Accounting—Present and Past
Chapter 2: Financial Statements and Accounting Concepts/Principles
UV
Chapter 3: Fundamental Interpretations Made from Financial Statement Data
Chapter 4: The Bookkeeping Process and Transaction Analysis
PART II: ASSETS, LIABILITIES, AND EQUITY
Chapter 5: Accounting for and Presentation of Current Assets
IA
Chapter 6: Accounting for and Presentation of Property, Plant, and Equipment, and Other Noncurrent
Assets
Chapter 7: Accounting for and Presentation of Liabilities
Chapter 8: Accounting for and Presentation of Stockholders’ Equity
_A
PART III: REPORTING AND ANALYSIS
Chapter 9: The Income Statement and the Statement of Cash Flows
Chapter 10: Corporate Governance, Notes to the Financial Statements, and Other Disclosures
PP
Chapter 11: Financial Statement Analysis
PART IV: MANAGERIAL ACCOUNTING AND COST MANAGEMENT
Chapter 12: Managerial Accounting and Cost–Volume–Profit Relationships
RO
Chapter 13: Cost Accounting and Reporting
Chapter 14: Cost Planning
Chapter 15: Cost Control
Chapter 16: Costs for Decision Making
VE
D?
, Test Bank Accounting: What the Numbers Mean, 13th Edition by David Marshall
Chapter 01 13e Answers Included ✅
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Which of the following entities wouldnot require accounting information pertaining to
ST
their economic activities?
A) Social clubs
UV
B) Not-for-profit entities
C) State governments
D) Small businesses
E) All of these entities require accounting information.
IA
2) The authoritative financial accounting standards-setting body in the United States is
presently the:
_A
A) Public Company Accounting Oversights Board (PCAOB)
B) Financial Accounting Standards Board (FASB)
C) Accounting Principles Board (APB)
PP
D) Securities and Exchange Commission (SEC)
E) International Accounting Standards Board (IASB)
RO
3) Which of the following statements about the Financial Accounting Standards Board is
correct?
A) The FASB follows a due process procedure that permits input from interested parties
VE
before an Accounting Standards Update (ASU) is issued.
B) The FASB is controlled by the American Institute of CPAs.
C) The FASB is an agency of the Federal government.
D) The FASB has the authority to fine a noncompliant firm.
D?
4) Major classifications of accounting activity wouldnot include:
1
, A) financial accounting, internal auditing, public accounting.
B) internal auditing, governmental accounting, managerial accounting.
C) financial accounting, national accounting, cost accounting.
D) auditing, income tax accounting, governmental accounting.
ST
5) Which of the following isnot an example of a decision or informed judgment that a
UV
potential investor would make from accounting information?
A) A forecast of dividends
B) Assessment of risk that a company may have more debt than it can repay if the
IA
economy enters a recession
C) Future profitability based on past profitability
D) Probability of success of a new product development
_A
6) Which of the following isnot an example of a decision or informed judgment that a
potential employee could make from accounting information?
PP
A) The extent of the company's commitment to a research program
B) Personnel turnover statistics (i.e., hiring and terminations)
C) Probability of the company's ability to make profit sharing plan contributions in the
RO
future
D) Assessment of the risk that the company may become bankrupt in the near future
7) Which of the following are qualified to express an auditor's opinion about an entity's
VE
financial statements?
A) A Comptroller
D?
B) A Certified Management Accountant
C) A Certified Internal Auditor
D) A Certified Public Accountant
2
