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Examen
Financial & Managerial Accounting for MBAs, 5th Edition by Easton, Halsey, McAnally, Hartgraves & Morse
Module 1 – Financial Accounting for MBAs 
1. Which of the following organizations does not contribute to the formation of GAAP? 
a. FASB (Financial Accounting Standards Board) 
b. IRS (Internal Revenue Service) 
c. AICPA (American Institute of Certified Public Accountants) 
d. SEC (Securities and Exchange Commission) 
Answer: b 
2. Rocky Beach reports the following dollar balances in its retained earnings account. 
($ millions) 2017 2016 
Retained earnings…………. 8,968.1 8,223.9 
During ...
Examen
Financial & Managerial Accounting for MBAs, 5th Edition by Easton, Halsey, McAnally, Hartgraves & Morse
PopularModule 1 – Financial Accounting for MBAs 
1. Which of the following organizations does not contribute to the formation of GAAP? 
a. FASB (Financial Accounting Standards Board) 
b. IRS (Internal Revenue Service) 
c. AICPA (American Institute of Certified Public Accountants) 
d. SEC (Securities and Exchange Commission) 
Answer: b 
2. Rocky Beach reports the following dollar balances in its retained earnings account. 
($ millions) 2017 2016 
Retained earnings…………. 8,968.1 8,223.9 
During ...
Examen
TEST BANK FOR Financial & Managerial Accounting for MBAs, 5th Edition by Easton, Halsey, McAnally, Hartgraves & Morse
TEST BANK FOR Financial & Managerial Accounting for MBAs, 5th Edition by Easton, Halsey, McAnally, Hartgraves & Morse