Test Bank for Horngren's Accounting, Volume 1 12th Canadian Edition by Miller-Nobles
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Course
Accounting
Institution
Accounting
Complete Test Bank for Horngren's Accounting, Volume 1, Canadian Edition, 12th edition 12ce Vol 1 by Tracie Miller-Nobles; Brenda Mattison; Ella Mae Matsumura; Grant Mowbray; Carol A. Meissner; JoAnn L.
ISBN-13: 9717
Full Chapters test bank included for Vol 1 12ce
Accounting and the Busines...
Horngren's Accounting, Vol. 1, Cdn. Ed., 12e (Miller-Nobles)
TEST BANK
Chapter 1 Accounting and the Business Environment
1.1 Define accounting, and describe the users of accounting information
1) Financial statements provide information about business activities to decision makers.
Answer: TRUE
Diff: 1 Type: TF
CPA Competency: 1.1.1 Evaluates financial reporting issues
Objective: 1-1 Define accounting, and describe the users of accounting information
Knowledge Taxon.: Factual
Cognitive Taxon.: Remember
2) Investors provide money to a business to assist with operations.
Answer: TRUE
Diff: 2 Type: TF
CPA Competency: 1.1.1 Evaluates financial reporting issues
Objective: 1-1 Define accounting, and describe the users of accounting information
Knowledge Taxon.: Factual
Cognitive Taxon.: Remember
3) Not-for-profit organizations need accounting information, as do profit-oriented organizations.
Answer: TRUE
Diff: 1 Type: TF
CPA Competency: 1.1.1 Evaluates financial reporting issues
Objective: 1-1 Define accounting, and describe the users of accounting information
Knowledge Taxon.: Factual
Cognitive Taxon.: Remember
4) The Canadian designation CPA stands for Certified Public Accountant.
Answer: FALSE
Diff: 1 Type: TF
CPA Competency: 1.1.1 Evaluates financial reporting issues
Objective: 1-1 Define accounting, and describe the users of accounting information
Knowledge Taxon.: Factual
Cognitive Taxon.: Remember
5) Rules of professional conduct for accountants apply to accountants working in public practice but not
for accountants employed by companies.
Answer: FALSE
Diff: 2 Type: TF
CPA Competency: 1.1.1 Evaluates financial reporting issues
Objective: 1-1 Define accounting, and describe the users of accounting information
Knowledge Taxon.: Factual
Cognitive Taxon.: Remember
1
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