Corporate Financial Accounting, 16th Edition (Carl S. Warren & Jeff Jones) – Complete Test Bank

Copyright Cengage Learning. Powered by Cognero
ns ns ns ns ns Page 1
ns

.

, Chapter 1:Introduction to Accounting and Business
ns ns ns ns ns




Chapter 2:Analyzing Transactions
ns ns




Chapter 3:The Adjusting Process
ns ns ns




Chapter 4:The Accounting Cycle
ns ns ns




Chapter 5:Accounting for Retail Businesses
ns ns ns ns




Chapter 6:Inventories
ns




Chapter 7:Internal Control and Cash
ns ns ns ns




Chapter 8:Receivables
ns




Chapter 9:Long-Term Assets: Fixed and Intangible
ns ns ns ns ns




Chapter 10:Liabilities: Current, Installment Notes, and Contingencies
ns ns ns ns ns ns




Chapter 11:Liabilities: Bonds Payable
ns ns ns




Chapter 12:Corporations: Organization, Stock Transactions, and Dividends
ns ns ns ns ns ns




Chapter 13:Statement of Cash Flows
ns ns ns ns




Chapter 14:Financial Statement Analysis
ns ns ns




Copyright Cengage Learning. Powered by Cognero
ns ns ns ns ns Page 2
ns

.

,Chapter 01 - Accounting and Business
ns ns ns ns ns




1. A corporation is a business that is legally separate and distinct from its owners.
ns ns ns ns ns ns ns ns ns ns ns ns ns



a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering ns




QUESTION TYPE: ns True / False ns ns




HAS VARIABLES:
ns False
LEARNING OBJECTIVES: nsFNMN.WAJO.19.01 01 - LO: 01-01 ns ns ns ns




ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
ns n s ns ns ns



ACCT.AICPA.BB.01 - Industry ns ns



ACCT.AICPA.FN.03 - ns



Measurement BUSPROG: Analytic ns ns ns




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




DATE MODIFIED:
ns 10/16/2017 3:33 PM ns ns




2. The role of accounting is to provide many different users with financial information to make economic decisions.
ns ns ns ns ns ns ns ns ns ns ns ns ns ns ns ns



a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering ns




QUESTION TYPE: nsTrue / False ns ns




HAS VARIABLES:
ns False
LEARNING OBJECTIVES: nsFNMN.WAJO.19.01 01 - LO: 01-01 ns ns ns ns




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
ns n s ns ns



ACCT.AICPA.FN.03 - ns



Measurement BUSPROG: Analytic ns ns ns




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




DATE MODIFIED:
ns 10/16/2017 3:33 PM ns ns




3. Accounting information users need reports about the economic activities and condition of businesses.
ns ns ns ns ns ns ns ns ns ns ns ns



a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering ns




Copyright Cengage Learning. Powered by Cognero
ns ns ns ns ns Page 3
ns

.

, QUESTION TYPE: ns True / False
ns ns




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




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
ns n s ns ns



ACCT.AICPA.BB.01 - Industry ns ns



ACCT.AICPA.FN.03 - ns



Measurement BUSPROG: Analytic ns ns ns




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




DATE MODIFIED:
ns 10/16/2017 3:33 PM ns ns




4. Managerial accounting information is used by external and internal users equally.
ns ns ns ns ns ns ns ns ns ns



a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering ns




QUESTION TYPE: ns True / False
ns ns




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




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
ns n s ns ns



ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - ns ns ns ns ns



Measurement ns



BUSPROG: Analytic ns




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




DATE MODIFIED:
ns 10/16/2017 3:33 PM ns ns




5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies whe
ns ns ns ns ns ns ns ns ns ns ns ns ns ns ns ns ns



re they work.
ns ns




a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering ns




QUESTION TYPE: ns True / False
ns ns




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




ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
ns n s ns ns



ACCT.AICPA.BB.03 - Legal ns ns



ACCT.AICPA.FN.03 - ns



Measurement BUSPROG: Ethics ns ns ns




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




DATE MODIFIED:
ns 10/16/2017 3:33 PM ns ns




Copyright Cengage Learning. Powered by Cognero
ns ns ns ns ns Page 4ns

.