TEST BANK cc
Corporate Financial Accounting, 16th Edition
cc cc cc cc
by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete
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Copyright Cengage Learning. Powered by
cc cc cc cc Page 1
cc
Cognero.
cc
, 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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Copyright Cengage Learning. Powered by
cc cc cc cc Page 2
cc
Cognero.
cc
,Chapter 01 - Accounting and Business
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1. A corporation is a business that is legally separate and distinct from its owners.
cc cc cc cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering cc
QUESTION TYPE: cc True / False cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
cc cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
cc c c cc cc cc
ACCT.AICPA.BB.01 - Industry cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
2. The role of accounting is to provide many different users with financial information to make economic decisions.
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering cc
QUESTION TYPE: True / False
cc cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
cc cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
3. Accounting information users need reports about the economic activities and condition of businesses.
cc cc cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering cc
Copyright Cengage Learning. Powered by
cc cc cc cc Page 3
cc
Cognero.
cc
, QUESTION TYPE: cc True / False
cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01-01 - LO: 01-01
cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.AICPA.BB.01 - Industry cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
4. Managerial accounting information is used by external and internal users equally.
cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingcc
QUESTION TYPE: cc True / False
cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: cc FNMN.WAJO.19.01 01 - LO: 01-01 cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - cc cc cc cc cc
Measurement cc
BUSPROG: Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
where they work.
cc cc cc
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingcc
QUESTION TYPE: cc True / False
cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
cc cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.AICPA.BB.03 - Legal cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Ethics cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
Copyright Cengage Learning. Powered by
cc cc cc cc Page 4cc
Cognero.
cc
Corporate Financial Accounting, 16th Edition
cc cc cc cc
by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete
cc cc cc cc cc cc cc cc cc cc cc
Copyright Cengage Learning. Powered by
cc cc cc cc Page 1
cc
Cognero.
cc
, Chapter 1:Introduction to Accounting and Business
cc cc cc cc cc
Chapter 2:Analyzing Transactions
cc cc
Chapter 3:The Adjusting Process
cc cc cc
Chapter 4:The Accounting Cycle
cc cc cc
Chapter 5:Accounting for Retail Businesses
cc cc cc cc
Chapter 6:Inventories
cc
Chapter 7:Internal Control and Cash
cc cc cc cc
Chapter 8:Receivables
cc
Chapter 9:Long-Term Assets: Fixed and Intangible
cc cc cc cc cc
Chapter 10:Liabilities: Current, Installment Notes, and Contingencies
cc cc cc cc cc cc
Chapter 11:Liabilities: Bonds Payable
cc cc cc
Chapter 12:Corporations: Organization, Stock Transactions, and Dividends
cc cc cc cc cc cc
Chapter 13:Statement of Cash Flows
cc cc cc cc
Chapter 14:Financial Statement Analysis
cc cc cc
Copyright Cengage Learning. Powered by
cc cc cc cc Page 2
cc
Cognero.
cc
,Chapter 01 - Accounting and Business
cc cc cc cc cc
1. A corporation is a business that is legally separate and distinct from its owners.
cc cc cc cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering cc
QUESTION TYPE: cc True / False cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
cc cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
cc c c cc cc cc
ACCT.AICPA.BB.01 - Industry cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
2. The role of accounting is to provide many different users with financial information to make economic decisions.
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering cc
QUESTION TYPE: True / False
cc cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
cc cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
3. Accounting information users need reports about the economic activities and condition of businesses.
cc cc cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering cc
Copyright Cengage Learning. Powered by
cc cc cc cc Page 3
cc
Cognero.
cc
, QUESTION TYPE: cc True / False
cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01-01 - LO: 01-01
cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.AICPA.BB.01 - Industry cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
4. Managerial accounting information is used by external and internal users equally.
cc cc cc cc cc cc cc cc cc cc
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingcc
QUESTION TYPE: cc True / False
cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: cc FNMN.WAJO.19.01 01 - LO: 01-01 cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - cc cc cc cc cc
Measurement cc
BUSPROG: Analytic cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
where they work.
cc cc cc
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingcc
QUESTION TYPE: cc True / False
cc cc
HAS VARIABLES:
cc False
LEARNING OBJECTIVES: FNMN.WAJO.19.01 01 - LO: 01-01
cc cc cc cc cc
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
cc c c cc cc
ACCT.AICPA.BB.03 - Legal cc cc
ACCT.AICPA.FN.03 - Measurement BUSPROG: cc cc cc
Ethics cc
DATE CREATED:
cc 7/26/2017 4:27 PM cc cc
DATE MODIFIED:
cc 10/16/2017 3:33 PM cc cc
Copyright Cengage Learning. Powered by
cc cc cc cc Page 4cc
Cognero.
cc
