Test bank for corporate financial accounting 16th edition by carl s warren author jeff jones

TEST BANK
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Corporate Financial Accounting, 16th Edition
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by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete
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, Chapter 1:Introduction to Accounting and Business
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Chapter 2:Analyzing Transactions
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Chapter 3:The Adjusting Process
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Chapter 4:The Accounting Cycle
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Chapter 5:Accounting for Retail Businesses
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Chapter 6:Inventories
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Chapter 7:Internal Control and Cash
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Chapter 8:Receivables
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Chapter 9:Long-Term Assets: Fixed and Intangible
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Chapter 10:Liabilities: Current, Installment Notes, and Contingencies
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Chapter 11:Liabilities: Bonds Payable
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Chapter 12:Corporations: Organization, Stock Transactions, and Dividends
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Chapter 13:Statement of Cash Flows
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Chapter 14:Financial Statement Analysis
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,Chapter 01 - Accounting and Business
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1. A corporation is a business that is legally separate and distinct from its owners.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering v




QUESTION TYPE: v True / Falsev v




HAS VARIABLES:
v False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
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ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
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ACCT.AICPA.BB.01 - Industry v v




ACCT.AICPA.FN.03-Measurement BUSPROG: v v v




Analytic v




DATE CREATED:v 7/26/2017 4:27 PM v v




DATE MODIFIED:
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2. The role of accounting is to provide many different users with financial information to make economic decisions.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering v




QUESTION TYPE: True / False
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HAS VARIABLES:
v False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
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ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.AICPA.FN.03-Measurement BUSPROG: v v v




Analytic v




DATE CREATED:v 7/26/2017 4:27 PM v v




DATE MODIFIED:
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3. Accounting information users need reports about the economic activities and condition of businesses.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering v




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, QUESTION TYPE: v True / False v v




HAS VARIABLES:
v False
LEARNING OBJECTIVES: v FNMN.WAJO.19.01-01 - LO: 01-01 v v v




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.AICPA.BB.01 - Industry v v




ACCT.AICPA.FN.03-Measurement BUSPROG: v v v




Analytic v




DATE CREATED:
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DATE MODIFIED:
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4. Managerial accounting information is used by external and internal users equally.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingv




QUESTION TYPE: v True / Falsev v




HAS VARIABLES:
v False
LEARNING OBJECTIVES: v FNMN.WAJO.19.01 01 - LO: 01-01 v v v v




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - v v v v v




Measurement v




BUSPROG: Analytic v




DATE CREATED:
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DATE MODIFIED:
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5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies where
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they work.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingv




QUESTION TYPE: v True / Falsev v




HAS VARIABLES:
v False
LEARNING OBJECTIVES: v FNMN.WAJO.19.01 01 - LO: 01-01 v v v v




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.AICPA.BB.03 - Legal v v




ACCT.AICPA.FN.03-Measurement BUSPROG: Ethics v v v v




DATE CREATED:
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DATE MODIFIED:
v 10/16/2017 3:33 PM v v




6. Financial accounting provides information to all users, while the main focus for managerial accounting is to provide
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Copyright Cengage Learning. Powered by Cognero.
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