Accounting 25th (Carl S. Warren) - Test Bank (Full 2600 Page)
18 thg 7, 2024 | 09:58

Accounting 25th (Carl S. Warren) - Test Bank (Full 2600 Page)



NỘI DUNG:



Chương 1:Introduction to Accounting and Business


Chương 2:Analyzing Transactions


Chương 3:The Adjusting Process


Chương 4:Completing the Accounting Cycle


Chương 5:Accounting Systems


Chương 6:Accounting for Merchandising Businesses


Chương 7:Inventories


Chương 8:Sarbanes-Oxley, Internal Control, and Cash


Chương 9:Receivables


Chương 10:Fixed Assets and Intangible Assets


Chương 11:Current Liabilities and Payroll


Chương 12:Accounting for Partnerships and Limited Liability Companies


Chương 13:Corporations: Organization, Stock Transactions, and Dividends


Chương 14:Long-Term Liabilities: Bonds and Notes


Chương 15:Investments and Fair Value Accounting


Chương 16:Statement of Cash Flows


Chương 17:Financial Statement Analysis


Chương 18:Managerial Accounting Concepts and Principles


Chương 19:Job Order Costing


Chương 20:Process Cost Systems


Chương 21:Cost Behavior and Cost-Volume-Profit Analysis


Chương 22:Budgeting


Chương 23:Performance Evaluation Using Variances from Standard Costs


Chương 24:Performance Evaluation for Decentralized Operations


Chương 25:Differential Analysis, Product Pricing, and Activity-Based Costing


Chương 26:Capital Investment Analysis


Chương Appendix B:Reversing Entries


Chương Appendix D:International Financial Reporting Standards(IFRS)


Chương MJI:Mornin' Joe International



Chapter 1--Introduction to Accounting and Business

Student: 

___________________________________________________________________________

1. The main objective of a not-for-profit business is not to make a profit. 

True  False

2.  An example of an external user of accounting information is the federal government. 

True  False

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

True  False

4. About 90% of the businesses in the United States are organized as corporations. 

True  False

5. The role of accounting is to provide many different users with financial information to make 

economic decisions. 

True  False

6. Proprietorships are owned by one owner and provide only services to their customers. 

True  False

7. Only large companies such as Wal-Mart, JCP, General Motors, and the Bank of America can 

be organized as corporations. 

True  False

8. Accounting information users need reports about the economic activities and condition of 

businesses. 

True  False

9. Senior executives cannot be criminally prosecuted for the wrong doings they commit on 

behalf of the companies where they work. 

True  False

10. The primary role of accounting is to determine the amount of taxes a business will be 

required to pay to taxing entities. 

True  False

11. An account receivable is typically classified as a revenue. 

True  False

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

True  False

13. Financial accounting provides information to all users, while the main focus for managerial 

accounting is to provide information to the management. 

True  False

14. Proper ethical conduct implies that you only consider what's in your best interest. 

True  False

15. Some of the major fraudulent acts by senior executives started as what they considered to be 

small ethical lapses which grew out of control. 

True  False

16. Two factors that typically lead to ethical violations are relevance and timeliness of 

accounting information. 

True  False

17. A business is an organization in where basic resources or inputs, like materials and labor, are 

assembled and processed to provide outputs in the form of goods or services to customers. 

True  False

18. The Financial Accounting Standards Board (FASB) is the authoritative body that has primary 

responsibility for developing accounting principles. 

True  False

19. The cost concept is the basis for entering the exchange price into the accounting records. 

True  False

20. The unit of measurement concept requires that economic data be recorded in a common unit 

of measurement. 

True  False

21. If a building is appraised for $85,000, offered for sale at $90,000, and the buyer pays $80,000 

cash for it, the buyer would record the building at $85,000. 

True  False

22. Generally accepted accounting principles regulate how and what financial information is 

reported by businesses. 

True  False

23. The accounting equation can be expressed as Assets - Liabilities = Owner's Equity. 

True  False

24. The rights or claims to the assets of a business may be subdivided into rights of creditors and 

rights of owners. 

True  False

25. The owner‘s rights to the assets rank ahead of the creditors' rights to the assets. 

True  False

26. If the liabilities owed by a business total $300,000 and owners equity is equal to $300,000, 

then the assets also total $300,000. 

True  False

27. If total assets decreased by $30,000 during a specific period and owner's equity decreased by 

$35,000 during the same period, the period's change in total liabilities was an $65,000 increase. 

True  False

28. If total assets increased by $190,000 during a specific period and liabilities decreased by 

$10,000 during the same period, the period's change in total owner's equity was a $200,000 

increase. 

True  False

29. If net income for a proprietorship was $50,000, the owner withdrew $20,000 in cash and the owner invested $10,000 in cash, the capital of the owner increased by $40,000. 

True  False

30. An account receivable is a claim against a customer arising from a sale on account. 

True  False

...










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NỘI DUNG:



Chương 1:Introduction to Accounting and Business


Chương 2:Analyzing Transactions


Chương 3:The Adjusting Process


Chương 4:Completing the Accounting Cycle


Chương 5:Accounting Systems


Chương 6:Accounting for Merchandising Businesses


Chương 7:Inventories


Chương 8:Sarbanes-Oxley, Internal Control, and Cash


Chương 9:Receivables


Chương 10:Fixed Assets and Intangible Assets


Chương 11:Current Liabilities and Payroll


Chương 12:Accounting for Partnerships and Limited Liability Companies


Chương 13:Corporations: Organization, Stock Transactions, and Dividends


Chương 14:Long-Term Liabilities: Bonds and Notes


Chương 15:Investments and Fair Value Accounting


Chương 16:Statement of Cash Flows


Chương 17:Financial Statement Analysis


Chương 18:Managerial Accounting Concepts and Principles


Chương 19:Job Order Costing


Chương 20:Process Cost Systems


Chương 21:Cost Behavior and Cost-Volume-Profit Analysis


Chương 22:Budgeting


Chương 23:Performance Evaluation Using Variances from Standard Costs


Chương 24:Performance Evaluation for Decentralized Operations


Chương 25:Differential Analysis, Product Pricing, and Activity-Based Costing


Chương 26:Capital Investment Analysis


Chương Appendix B:Reversing Entries


Chương Appendix D:International Financial Reporting Standards(IFRS)


Chương MJI:Mornin' Joe International



Chapter 1--Introduction to Accounting and Business

Student: 

___________________________________________________________________________

1. The main objective of a not-for-profit business is not to make a profit. 

True  False

2.  An example of an external user of accounting information is the federal government. 

True  False

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

True  False

4. About 90% of the businesses in the United States are organized as corporations. 

True  False

5. The role of accounting is to provide many different users with financial information to make 

economic decisions. 

True  False

6. Proprietorships are owned by one owner and provide only services to their customers. 

True  False

7. Only large companies such as Wal-Mart, JCP, General Motors, and the Bank of America can 

be organized as corporations. 

True  False

8. Accounting information users need reports about the economic activities and condition of 

businesses. 

True  False

9. Senior executives cannot be criminally prosecuted for the wrong doings they commit on 

behalf of the companies where they work. 

True  False

10. The primary role of accounting is to determine the amount of taxes a business will be 

required to pay to taxing entities. 

True  False

11. An account receivable is typically classified as a revenue. 

True  False

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

True  False

13. Financial accounting provides information to all users, while the main focus for managerial 

accounting is to provide information to the management. 

True  False

14. Proper ethical conduct implies that you only consider what's in your best interest. 

True  False

15. Some of the major fraudulent acts by senior executives started as what they considered to be 

small ethical lapses which grew out of control. 

True  False

16. Two factors that typically lead to ethical violations are relevance and timeliness of 

accounting information. 

True  False

17. A business is an organization in where basic resources or inputs, like materials and labor, are 

assembled and processed to provide outputs in the form of goods or services to customers. 

True  False

18. The Financial Accounting Standards Board (FASB) is the authoritative body that has primary 

responsibility for developing accounting principles. 

True  False

19. The cost concept is the basis for entering the exchange price into the accounting records. 

True  False

20. The unit of measurement concept requires that economic data be recorded in a common unit 

of measurement. 

True  False

21. If a building is appraised for $85,000, offered for sale at $90,000, and the buyer pays $80,000 

cash for it, the buyer would record the building at $85,000. 

True  False

22. Generally accepted accounting principles regulate how and what financial information is 

reported by businesses. 

True  False

23. The accounting equation can be expressed as Assets - Liabilities = Owner's Equity. 

True  False

24. The rights or claims to the assets of a business may be subdivided into rights of creditors and 

rights of owners. 

True  False

25. The owner‘s rights to the assets rank ahead of the creditors' rights to the assets. 

True  False

26. If the liabilities owed by a business total $300,000 and owners equity is equal to $300,000, 

then the assets also total $300,000. 

True  False

27. If total assets decreased by $30,000 during a specific period and owner's equity decreased by 

$35,000 during the same period, the period's change in total liabilities was an $65,000 increase. 

True  False

28. If total assets increased by $190,000 during a specific period and liabilities decreased by 

$10,000 during the same period, the period's change in total owner's equity was a $200,000 

increase. 

True  False

29. If net income for a proprietorship was $50,000, the owner withdrew $20,000 in cash and the owner invested $10,000 in cash, the capital of the owner increased by $40,000. 

True  False

30. An account receivable is a claim against a customer arising from a sale on account. 

True  False

...










LINK DOWNLOAD - FULL (TÀI LIỆU VIP MEMBER)

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