TEST BANK
College Accounting Chapters 1-30, 17th Edition
David Haddock, John Price, Michael Farina
, TABLE OF CONTENTS
Ch. 1 Accounting: The Language of Business Ch. 2 Analyzing
Business Transactions
Ch. 3 Analyzing Business Transactions Using T Accounts Ch. 4 The General
Journal and the General Ledger
Ch. 5 Adjustments and the Worksheet
Ch. 6 Closing Entries and the Postclosing Trial Balance Ch. 7 Accounting
for Sales and Accounts Receivable Ch. 8 Accounting for Purchases and
Accounts Payable
Ch. 9 Cash Receipts, Cash Payments, and Banking Procedures Ch. 10 Payroll
Computations, Records, and Payment
Ch. 11 Payroll Taxes, Deposits, and Reports Ch. 12 Accruals,
Deferrals, and the Worksheet
Ch. 13 Financial Statements and Closing Procedure Ch. 14 Accounting
Principles and Reporting Standards
Ch. 15 Accounts Receivable and Uncollectible Accounts Ch. 16 Notes Payable
and Notes Receivable
Ch. 17 Merchandise Inventory
Ch. 18 Property, Plant, and Equipment Ch. 19
Accounting for Partnerships
Ch. 20 Corporations: Formation and Capital Stock Transactions
Version 1 2
,Ch. 21 Corporate Earnings and Capital Transactions Ch. 22 Long-Term
Bonds
Ch. 23 Financial Statement Analysis Ch. 24 The
Statement of Cash Flows
Ch. 25 Departmentalized Profit and Cost Centers Ch. 26
Accounting for Manufacturing Activities Ch. 27 Job Order Cost
Accounting
Ch. 28 Process Cost Accounting
Ch. 29 Controlling Manufacturing Costs: Standard Costs Ch. 30 Cost-Revenue
Analysis for Decision Making
Version 1 3
, Answers are at the end of each Chapter
Chapter 1 Accounting: The Language of Business
Student name:_
1) What is the “language of business?” List three groups who use this financial
information.
Question Details
Difficulty : 1 Easy
Learning Objective : 01-01 Define
accounting. Topic : What is
Accounting?
Bloom's : Remember
AACSB : Analytical
Thinking AICPA : BB
Industry
AICPA : FN Decision
Making Accessibility :
Keyboard Navigation
Type : Static
Learning Objective : 01-03 Identify the users of
financial information. Gradable : manual
Accessibility : Screen Reader Compatible
2) Cullen Company of country X and Shaw Industries of country Y have issued
financial statements in compliance with the accounting principles of their
respective countries. They would like to work together on a project and need to
compare their current financial statements prior to starting the project. However,
the accounting principles of the two countries differ. What organization might
they turn to regarding this issue? (Give both the full name of the organization and
its acronym.) What is the function of this organization?
Version 1 4
College Accounting Chapters 1-30, 17th Edition
David Haddock, John Price, Michael Farina
, TABLE OF CONTENTS
Ch. 1 Accounting: The Language of Business Ch. 2 Analyzing
Business Transactions
Ch. 3 Analyzing Business Transactions Using T Accounts Ch. 4 The General
Journal and the General Ledger
Ch. 5 Adjustments and the Worksheet
Ch. 6 Closing Entries and the Postclosing Trial Balance Ch. 7 Accounting
for Sales and Accounts Receivable Ch. 8 Accounting for Purchases and
Accounts Payable
Ch. 9 Cash Receipts, Cash Payments, and Banking Procedures Ch. 10 Payroll
Computations, Records, and Payment
Ch. 11 Payroll Taxes, Deposits, and Reports Ch. 12 Accruals,
Deferrals, and the Worksheet
Ch. 13 Financial Statements and Closing Procedure Ch. 14 Accounting
Principles and Reporting Standards
Ch. 15 Accounts Receivable and Uncollectible Accounts Ch. 16 Notes Payable
and Notes Receivable
Ch. 17 Merchandise Inventory
Ch. 18 Property, Plant, and Equipment Ch. 19
Accounting for Partnerships
Ch. 20 Corporations: Formation and Capital Stock Transactions
Version 1 2
,Ch. 21 Corporate Earnings and Capital Transactions Ch. 22 Long-Term
Bonds
Ch. 23 Financial Statement Analysis Ch. 24 The
Statement of Cash Flows
Ch. 25 Departmentalized Profit and Cost Centers Ch. 26
Accounting for Manufacturing Activities Ch. 27 Job Order Cost
Accounting
Ch. 28 Process Cost Accounting
Ch. 29 Controlling Manufacturing Costs: Standard Costs Ch. 30 Cost-Revenue
Analysis for Decision Making
Version 1 3
, Answers are at the end of each Chapter
Chapter 1 Accounting: The Language of Business
Student name:_
1) What is the “language of business?” List three groups who use this financial
information.
Question Details
Difficulty : 1 Easy
Learning Objective : 01-01 Define
accounting. Topic : What is
Accounting?
Bloom's : Remember
AACSB : Analytical
Thinking AICPA : BB
Industry
AICPA : FN Decision
Making Accessibility :
Keyboard Navigation
Type : Static
Learning Objective : 01-03 Identify the users of
financial information. Gradable : manual
Accessibility : Screen Reader Compatible
2) Cullen Company of country X and Shaw Industries of country Y have issued
financial statements in compliance with the accounting principles of their
respective countries. They would like to work together on a project and need to
compare their current financial statements prior to starting the project. However,
the accounting principles of the two countries differ. What organization might
they turn to regarding this issue? (Give both the full name of the organization and
its acronym.) What is the function of this organization?
Version 1 4
