Test bank for financial accounting 13th edition c william thomas wendyvv

TEST,BANK,for,Financial,Accounting
13th,Edition
by,C,William,Thomas,and,Wendy,M.,Tietz
Verified,Chapter's,1,-,12,|,Complete

,TABLE,OF,CONTENTS,
1.,The,Financial,Statements

2.,Transaction,Analysis

3.,Accrual,Accounting,and,Income

4.,Internal,Control,and,Cash

5.,Receivables,and,Revenue

6.,Inventory,and,Cost,of,Goods,Sold

7.,Plant,Assets,,Natural,Resources,,and,Intangibles

8.,Current,and,Contingent,Liabilities

9.,Long-Term,Liabilities

10.,Stockholders',Equity

11.,The,Statement,of,Cash,Flows

12.,Financial,Statement,Analysis

,1.,The,Financial,Statements



Full,Test,Bank,for,Financial,Accounting,13th,Edition,C.,William,Thomas,,Wendy,M,Tietz

Financial,Accounting,,13e,(Thomas/Tietz)
Chapter,1 The,Financial,Statements

Learning,Objective,1-1

1) Accounting,is,an,information,system,that,measures,business,activities
.,Answer:, TRUE
Diff:,1
LO:, 1-1
AACSB:, Reflective,Thinking
AICPA,Bus,Persp:, Legal/Regulatory,
AICPA,Functional:, Measurement


2) Bookkeeping,is,a,mechanical,part,of,accounting
.,Answer:, TRUE
Diff:,1
LO:, 1-1
AACSB:, Reflective,Thinking
AICPA,Bus,Persp:, Legal/Regulatory,
AICPA,Functional:, Measurement


3) Accounting,is,often,called,the,language,of,business
.,Answer:, TRUE
Diff:,1
LO:, 1-1
AACSB:, Reflective,Thinking
AICPA,Bus,Persp:, Legal/Regulatory,
AICPA,Functional:, Measurement


4) Accounting,produces,financial,statements,,which,report,information,about,a,business
.,Answer:, TRUE
Diff:,1
LO:, 1-1
AACSB:, Reflective,Thinking
AICPA,Bus,Persp:, Legal/Regulatory
AICPA,Functional:, Measurement,,Reporting


5) The,accounting,process,begins,and,ends,with,people,making,decisions
.,Answer:, TRUE
Diff:,1
LO:, 1-1

, AACSB:, Reflective,Thinking
AICPA,Bus,Persp:, Legal/Regulatory,
AICPA,Functional:, Measurement