ACCT212
Chamberlain College Of Nursing
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Exam (elaborations)
ACCT 212 Financial Accounting WEEK 1 QUIZ
1.	TheItermIGAAPIstandsIfor: 
-	GenerallyIAcceptedIAccountingIPrinciples 
2.	FinancialIaccountingIservesIwhichIprimaryIfunction(s)? 
I.	MeasuresIbusinessIactivities. 
II.	CommunicatesIbusinessIactivitiesItoIinterestedIparties. 
III.	MakesIbusinessIdecisionsIonIbehalfIofIinterestedIparties. 
-	I.IandIII. 
3.	WhichIofItheIfollowingIrepresentsIanIobligationIofItheIcompany? 
-	Liabilities 
4.	WhichIbodyIhasItheIprimaryIresponsibilityIforItheIestablishmentIofIGenerallyIAcceptedIAccountingIPrinciples?...