TEST BANK ii ii
Survey of Accounting, 7th Edition
ii ii ii ii ii
by Edmonds & Olds Complete 16 Chapters
ii ii ii ii ii ii
1
,TABLE OF CONTENTS ii ii ii
Chapter 1 An Introduction to Accounting
ii ii ii ii ii
Chapter 2 Accounting for Accruals and Deferrals
ii ii ii ii ii ii
Chapter 3 Accounting for Merchandising Businesses
ii ii ii ii ii
Chapter 4 Internal Controls, Accounting for Cash, and Ethics
ii ii ii ii ii ii ii ii
Chapter 5 Accounting for Receivables and Inventory Cost Flow
ii ii ii ii ii ii ii ii
Chapter 6 Accounting for Long-Term Operational Assets
ii ii ii ii ii ii
Chapter 7 Accounting for Liabilities
ii ii ii ii
Chapter 8 Proprietorships, Partnerships, and Corporations
ii ii ii ii ii
Chapter 9 Financial Statement Analysis
ii ii ii ii
Chapter 10 An Introduction to Management Accounting
ii ii ii ii ii ii
Chapter 11 Cost Behavior, Operating Leverage, and Profitability Analysis
ii ii ii ii ii ii ii ii
Chapter 12 Cost Accumulation, Tracing, and Allocation
ii ii ii ii ii ii
Chapter 13 Relevant Information for Special Decisions
ii ii ii ii ii ii
Chapter 14 Planning for Profit and Cost Control
ii ii ii ii ii ii ii
Chapter 15 Performance Evaluation
ii ii ii
Chapter 16 Planning for Capital Investments
ii ii ii ii ii ii
2
,Chap 01 7eii ii
Edmonds
ii
Answers are at the end of each chapter
ii ii ii ii ii ii ii
1) Which iiof iithe iifollowing iigroups iihas iithe iiprimary iiresponsibility iifor
iiestablishing iigenerallyiaccepted iiaccounting iiprinciples iifor iibusiness iientities
iiin iithe iiUnited iiStates?
A) Securities iiand iiExchange iiCommission
B) U.S. iiCongress
C) International iiAccounting iiStandards iiBoard
D) Financial iiAccounting iiStandards iiBoard
2) The iiHeritage iiCompany iiis iia iimanufacturer iiof iioffice iifurniture. iiWhich iiterm
best iidescribesiHeritage's iirole iiin iisociety?
ii
A) Business
B) Regulatory iiagency
C) Consumer
D) Resource iiowner
3) Which iiresource iiproviders iilend iifinancial iiresources iito iia iibusiness iiwith iithe
expectation iiofirepayment iiwith iiinterest?
ii
A) Consumers
B) Creditors
C) Investors
D) Owners
4) Which iitype iiof iiaccounting iiinformation iiis iiintended iito iisatisfy iithe iineeds iiof
external iiusers iiofiaccounting iiinformation?
ii
A) Cost iiaccounting
B) Managerial iiaccounting
C) Tax iiaccounting
D) Financial iiaccounting
5) Which iiof iithe iifollowing iiis iifalse iiregarding iimanagerial iiaccounting iiinformation?
A) It iiis iioften iiused iiby iiinvestors.
3
, B) It iiis iimore iidetailed iithan iifinancial iiaccounting iiinformation.
C) It iican iiinclude iinonfinancial iiinformation.
D) It iifocuses iion iidivisional iirather iithan iioverall iiprofitability.
4
Survey of Accounting, 7th Edition
ii ii ii ii ii
by Edmonds & Olds Complete 16 Chapters
ii ii ii ii ii ii
1
,TABLE OF CONTENTS ii ii ii
Chapter 1 An Introduction to Accounting
ii ii ii ii ii
Chapter 2 Accounting for Accruals and Deferrals
ii ii ii ii ii ii
Chapter 3 Accounting for Merchandising Businesses
ii ii ii ii ii
Chapter 4 Internal Controls, Accounting for Cash, and Ethics
ii ii ii ii ii ii ii ii
Chapter 5 Accounting for Receivables and Inventory Cost Flow
ii ii ii ii ii ii ii ii
Chapter 6 Accounting for Long-Term Operational Assets
ii ii ii ii ii ii
Chapter 7 Accounting for Liabilities
ii ii ii ii
Chapter 8 Proprietorships, Partnerships, and Corporations
ii ii ii ii ii
Chapter 9 Financial Statement Analysis
ii ii ii ii
Chapter 10 An Introduction to Management Accounting
ii ii ii ii ii ii
Chapter 11 Cost Behavior, Operating Leverage, and Profitability Analysis
ii ii ii ii ii ii ii ii
Chapter 12 Cost Accumulation, Tracing, and Allocation
ii ii ii ii ii ii
Chapter 13 Relevant Information for Special Decisions
ii ii ii ii ii ii
Chapter 14 Planning for Profit and Cost Control
ii ii ii ii ii ii ii
Chapter 15 Performance Evaluation
ii ii ii
Chapter 16 Planning for Capital Investments
ii ii ii ii ii ii
2
,Chap 01 7eii ii
Edmonds
ii
Answers are at the end of each chapter
ii ii ii ii ii ii ii
1) Which iiof iithe iifollowing iigroups iihas iithe iiprimary iiresponsibility iifor
iiestablishing iigenerallyiaccepted iiaccounting iiprinciples iifor iibusiness iientities
iiin iithe iiUnited iiStates?
A) Securities iiand iiExchange iiCommission
B) U.S. iiCongress
C) International iiAccounting iiStandards iiBoard
D) Financial iiAccounting iiStandards iiBoard
2) The iiHeritage iiCompany iiis iia iimanufacturer iiof iioffice iifurniture. iiWhich iiterm
best iidescribesiHeritage's iirole iiin iisociety?
ii
A) Business
B) Regulatory iiagency
C) Consumer
D) Resource iiowner
3) Which iiresource iiproviders iilend iifinancial iiresources iito iia iibusiness iiwith iithe
expectation iiofirepayment iiwith iiinterest?
ii
A) Consumers
B) Creditors
C) Investors
D) Owners
4) Which iitype iiof iiaccounting iiinformation iiis iiintended iito iisatisfy iithe iineeds iiof
external iiusers iiofiaccounting iiinformation?
ii
A) Cost iiaccounting
B) Managerial iiaccounting
C) Tax iiaccounting
D) Financial iiaccounting
5) Which iiof iithe iifollowing iiis iifalse iiregarding iimanagerial iiaccounting iiinformation?
A) It iiis iioften iiused iiby iiinvestors.
3
, B) It iiis iimore iidetailed iithan iifinancial iiaccounting iiinformation.
C) It iican iiinclude iinonfinancial iiinformation.
D) It iifocuses iion iidivisional iirather iithan iioverall iiprofitability.
4
