TEST BANK
r
Corporate Financial Accounting, 16th Edition
r r r r
by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete
r r r r r r r r r r r
Copyright rCengage rLearning. rPowered rby rCognero. Page r1
, Chapter 1:Introduction to Accounting and Business
r r r r r
Chapter 2:Analyzing Transactions
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Chapter 3:The Adjusting Process
r r r
Chapter 4:The Accounting Cycle
r r r
Chapter 5:Accounting for Retail Businesses
r r r r
Chapter 6:Inventories
r
Chapter 7:Internal Control and Cash
r r r r
Chapter 8:Receivables
r
Chapter 9:Long-Term Assets: Fixed and Intangible
r r r r r
Chapter 10:Liabilities: Current, Installment Notes, and Contingencies
r r r r r r
Chapter 11:Liabilities: Bonds Payable
r r r
Chapter 12:Corporations: Organization, Stock Transactions, and Dividends
r r r r r r
Chapter 13:Statement of Cash Flows
r r r r
Chapter 14:Financial Statement Analysis
r r r
Copyright rCengage rLearning. rPowered rby rCognero. Page r2
,Chapter 01 - Accounting and Business
r r r r r
1. A corporation is a business that is legally separate and distinct from its owners.
r r r r r r r r r r r r r
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering r
QUESTION TYPE: r True / False r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
r r r r r
ACCT.AICPA.BB.01 - Industry r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
2. The role of accounting is to provide many different users with financial information to make economic decisions.
r r r r r r r r r r r r r r r r
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering r
QUESTION TYPE: r True / False r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
3. Accounting information users need reports about the economic activities and condition of businesses.
r r r r r r r r r r r r
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering r
Copyright rCengage rLearning. rPowered rby rCognero. Page r3
, QUESTION TYPE: r True / False
r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01-01 - LO: 01-01 r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.AICPA.BB.01 - Industry r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
4. Managerial accounting information is used by external and internal users equally.
r r r r r r r r r r
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingr
QUESTION TYPE: r True / False
r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - r r r r r
Measurement r
BUSPROG: Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies
r r r r r r r r r r r r r r r r
where they work.
r r r
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingr
QUESTION TYPE: r True / False
r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.AICPA.BB.03 - Legal r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Ethics r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
Copyright rCengage rLearning. rPowered rby rCognero. Page r4
r
Corporate Financial Accounting, 16th Edition
r r r r
by Carl S. Warren Jeff Jones, All Chapters 1 - 14, Complete
r r r r r r r r r r r
Copyright rCengage rLearning. rPowered rby rCognero. Page r1
, Chapter 1:Introduction to Accounting and Business
r r r r r
Chapter 2:Analyzing Transactions
r r
Chapter 3:The Adjusting Process
r r r
Chapter 4:The Accounting Cycle
r r r
Chapter 5:Accounting for Retail Businesses
r r r r
Chapter 6:Inventories
r
Chapter 7:Internal Control and Cash
r r r r
Chapter 8:Receivables
r
Chapter 9:Long-Term Assets: Fixed and Intangible
r r r r r
Chapter 10:Liabilities: Current, Installment Notes, and Contingencies
r r r r r r
Chapter 11:Liabilities: Bonds Payable
r r r
Chapter 12:Corporations: Organization, Stock Transactions, and Dividends
r r r r r r
Chapter 13:Statement of Cash Flows
r r r r
Chapter 14:Financial Statement Analysis
r r r
Copyright rCengage rLearning. rPowered rby rCognero. Page r2
,Chapter 01 - Accounting and Business
r r r r r
1. A corporation is a business that is legally separate and distinct from its owners.
r r r r r r r r r r r r r
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering r
QUESTION TYPE: r True / False r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
r r r r r
ACCT.AICPA.BB.01 - Industry r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
2. The role of accounting is to provide many different users with financial information to make economic decisions.
r r r r r r r r r r r r r r r r
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering r
QUESTION TYPE: r True / False r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
3. Accounting information users need reports about the economic activities and condition of businesses.
r r r r r r r r r r r r
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering r
Copyright rCengage rLearning. rPowered rby rCognero. Page r3
, QUESTION TYPE: r True / False
r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01-01 - LO: 01-01 r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.AICPA.BB.01 - Industry r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
4. Managerial accounting information is used by external and internal users equally.
r r r r r r r r r r
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingr
QUESTION TYPE: r True / False
r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - r r r r r
Measurement r
BUSPROG: Analytic r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies
r r r r r r r r r r r r r r r r
where they work.
r r r
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Rememberingr
QUESTION TYPE: r True / False
r r
HAS VARIABLES:
r False
LEARNING OBJECTIVES: r FNMN.WAJO.19.01 01 - LO: 01-01 r r r r
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
r r r r
ACCT.AICPA.BB.03 - Legal r r
ACCT.AICPA.FN.03 - Measurement BUSPROG: r r r
Ethics r
DATE CREATED:
r 7/26/2017 4:27 PM r r
DATE MODIFIED:
r 10/16/2017 3:33 PM r r
Copyright rCengage rLearning. rPowered rby rCognero. Page r4
