Financial Accounting 6th Edition 2026 – Spiceland, Thomas & Herrmann A+ | ISBN 9781260786521

TEST BANK
Financial Accounting, 6th Edition
Chapters 1 – 12 Complete
By David Spiceland, Wayne Thomas and Don Herrmann

,TABLE OF CONTENTS




Chapter 1: A Framework for Financial Accounting Chapter 2: The

Accounting Cycle: During the Period Chapter 3: The Accounting Cycle:

End of the Period Chapter 4: Cash and Internal Controls

Chapter 5: Receivables and Sales

Chapter 6: Inventory and Cost of Goods Sold Chapter 7: Long-Term

Assets

Chapter 8: Current Liabilities Chapter 9: Long-

Term Liabilities Chapter d10: dStockholders’

dEquity d Chapter d11: dStatement dof dCash


dFlows


Chapter d12: dFinancial dStatement dAnalysis

,Chapter d1 d A dFramework dfor dFinancial dAccounting

1) Accounting dis da dsystem dof dmaintaining drecords dof da dcompany's doperations dand
dcommunicating d that dinformation dto ddecision dmakers.


Answer: dTRUE
d Difficulty: d1 dEasy
Topic: d Defining dAccounting
Learning dObjective: d 01-01 dDescribe dthe dtwo dprimary dfunctions dof dfinancial
daccounting.Bloom's: d Remember
AACSB: dReflective dThinking
d AICPA: d BB dCritical
dThinking


2) Accounting dinformation dis dused dby dinvestors dto ddecide dwhether dto dinvest din da dcompany's
dstock.


Answer: dTRUE
d Difficulty: d1 dEasy
Topic: d Defining dAccounting
Learning dObjective: d 01-01 dDescribe dthe dtwo dprimary dfunctions dof dfinancial
daccounting.Bloom's: d Remember
AACSB: dReflective dThinking
d AICPA: d BB dCritical
dThinking


3) Accounting dinformation dis dused dby dcreditors dto ddecide dwhether dto dinvest din da
dcompany's dstock.


Answer: d FALSE
Explanation: dCreditors dlend dmoney dto da
dcompany. d Difficulty: d1 dEasy
Topic: d Defining dAccounting
Learning dObjective: d 01-01 dDescribe dthe dtwo dprimary dfunctions dof dfinancial
daccounting.Bloom's: d Remember
AACSB: dReflective dThinking
d AICPA: d BB dCritical
dThinking


4) The dprimary dfunctions dof dfinancial daccounting dare dto dmeasure dbusiness dactivities dof da
dcompany d and dto dcommunicate dthose dmeasurements dto dinternal dparties dfor ddecision-
making dpurposes.

Answer: d FALSE
Explanation: dFinancial daccounting dprimarily dserves dto dprovide dinformation dto dexternal
dparties. d Difficulty: d2 dMedium
Topic: d Defining dAccounting
Learning dObjective: d 01-01 dDescribe dthe dtwo dprimary dfunctions dof dfinancial
daccounting.Bloom's: d Understand
AACSB: dReflective dThinking
d AICPA: d BB dCritical

, dThinking