Test Bank for Fundamental Accounting Principles Volume 1 17th Canadian Edition Larson.pdf

FundamentalnAccountingnPrinciplesnVolumen1n17thnEditionn
by nLarsonnCh01n
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TRUE/FALSE n-nWriten'T' nif nthenstatementnisntruenandn'F' nif nthenstatementnisnfalse.n
1)n
Accountingnisnanninformationnsystem nthatnidentifies,nmeasures,nrecordsnandncommunicatesn
relevantninformationnthatnobjectively nandncorrectly nrepresentsnannorganization'sneconomicn
activities.
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
LearningnObjectiven:n01-01nDescribenthenpurposenandnimportancenof naccounting.n
Topic n:n01-02nPowernof nAccountingn
Bloom'sn:nRemembern
Difficulty n:nEasy n
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2)n
Accountingninformationnhelpsnpeoplenmakenbetterndecisionsnaboutnthenperformancenof nan
business.
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
LearningnObjectiven:n01-01nDescribenthenpurposenandnimportancenof naccounting.n
Topic n:n01-02nPowernof nAccountingn
Bloom'sn:nRemembern
Difficulty n:nEasy n
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3)n
Thenmainnobjectivenof naccountingnisntonhelpnpeoplentoninvestninnnewnproductsnandn

,businesses.
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
LearningnObjectiven:n01-01nDescribenthenpurposenandnimportancenof naccounting.n
Bloom'sn:nRemembern
Difficulty n:nEasy n
Topic n:n01-07nExternalnInformationnUsersn
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DOWNLOADnTHEnTestnBanknfornFundamentalnAccountingnPrinciplesnVolumen1
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FundamentalnAccountingnPrinciplesnVolumen1n17thnEditionn
by nLarsonnCh01n
Versionn1n
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4)n
Recordkeeping"nisnanothernterm nforn"accounting".
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
LearningnObjectiven:n01-01nDescribenthenpurposenandnimportancenof naccounting.n
Bloom'sn:nRemembern
Difficulty n:nEasy n
Topic n:n01-03nFocusnof nAccountingn
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5)n
Ansolenproprietorshipnisnanbusinessnownednby nonenornmorenpersons.
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,n

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falsen
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
Bloom'sn:nRemembern
Difficulty n:nEasy n
LearningnObjectiven:n01-02nDescribenformsnof nbusinessnorganization.n
Topic n:n01-05nBusinessnOrganizationsn
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6)n
Anpartnershipnrequiresnnonspecialnlegalnrequirementsntonstart,nothernthanntonregisternthen
businessnnamenandnobtainnanbusinessnlicense.
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
Bloom'sn:nRemembern
Difficulty n:nEasy n
LearningnObjectiven:n01-02nDescribenformsnof nbusinessnorganization.n
Topic n:n01-05nBusinessnOrganizationsn
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7)n
Ownershipnof nancorporationnisndividednintonunitsncallednshares.
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falsen
DOWNLOADnTHEnTestnBanknfornFundamentalnAccountingnPrinciplesnVolumen1
nnnnnnnnnnnnnnnnnnnnnnnnn 17thnEditionnLarson

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FundamentalnAccountingnPrinciplesnVolumen1n17thnEditionn
by nLarsonnCh01n
Versionn1n
n
n
n
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3n

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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
Bloom'sn:nRemembern
Difficulty n:nEasy n
LearningnObjectiven:n01-02nDescribenformsnof nbusinessnorganization.n
Topic n:n01-05nBusinessnOrganizationsn
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8)n
Innthenpartnershipnform nof nbusiness,nthenownersnof nanbusinessnarencallednshareholders.
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
Bloom'sn:nRemembern
Difficulty n:nEasy n
LearningnObjectiven:n01-02nDescribenformsnof nbusinessnorganization.n
Topic n:n01-05nBusinessnOrganizationsn
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9)n
Unlimitednliability nisnannadvantagenfornbothnanproprietorshipnandnanpartnership.
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QuestionnDetailsn
Accessibility n:nKeyboardnNavigationn
Bloom'sn:nRemembern
LearningnObjectiven:n01-02nDescribenformsnof nbusinessnorganization.n
Topic n:n01-05nBusinessnOrganizationsn
Difficulty n:nMedium n
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10)n
Althoughnanproprietorshipnisnnotnanseparatenlegalnentity,nanpartnershipnis.
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falsen
DOWNLOADnTHEnTestnBanknfornFundamentalnAccountingnPrinciplesnVolumen1