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Test Bank for Survey of Accounting, 7th Edition by Edmonds & Olds, ISBN: 9781264442973, All 16 Chapters Covered, Verified Latest Edition$16.49
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Test Bank for Survey of Accounting, 7th Edition by Edmonds & Olds, ISBN: 9781264442973, All 16 Chapters Covered, Verified Latest Edition Test Bank for Survey of Accounting, 7th Edition by Edmonds & Olds, ISBN: 9781264442973, All 16 Chapters Covered, Verified Latest Edition Test bank and solution ma...
TEST BANK
Survey of Accounting, 7th Edition
by Edmonds & Olds Complete 16 Chapters
1
,TABLE OF CONTENTS N N N
Chapter 1 An Introduction to Accounting
N N N N N
Chapter 2 Accounting for Accruals and Deferrals
N N N N N N
Chapter 3 Accounting for Merchandising Businesses
N N N N N
Chapter 4 Internal Controls, Accounting for Cash, and Ethics
N N N N N N N N
Chapter 5 Accounting for Receivables and Inventory Cost Flow
N N N N N N N N
Chapter 6 Accounting for Long-Term Operational Assets
N N N N N N
Chapter 7 Accounting for Liabilities
N N N N
Chapter 8 Proprietorships, Partnerships, and Corporations
N N N N N
Chapter 9 Financial Statement Analysis
N N N N
Chapter 10 An Introduction to Management Accounting
N N N N N N
Chapter 11 Cost Behavior, Operating Leverage, and Profitability Analysis
N N N N N N N N
Chapter 12 Cost Accumulation, Tracing, and Allocation
N N N N N N
Chapter 13 Relevant Information for Special Decisions
N N N N N N
Chapter 14 Planning for Profit and Cost Control
N N N N N N N
Chapter 15 Performance Evaluation
N N N
Chapter 16 Planning for Capital Investments
N N N N N N
2
,Chap 01 7e Edmon
N N N
ds
Answers are at the end of each chapter
N N N N N N N
1) WhichNofNtheNfollowingNgroupsNhasNtheNprimaryNresponsibilityNforNestablishingNge
nerallyNacceptedNaccountingNprinciplesNforNbusinessNentitiesNinNtheNUnitedNState
s?
A) SecuritiesNandNExchangeNCommission
B) U.S.NCongress
C) InternationalNAccountingNStandardsNBoard
D) FinancialNAccountingNStandardsNBoard
2) TheNHeritageNCompanyNisNaNmanufacturerNofNofficeNfurniture.NWhichNtermNbestNd
escribesNHeritage'sNroleNinNsociety?
A) Business
B) RegulatoryNagency
C) Consumer
D) ResourceNowner
3) WhichNresourceNprovidersNlendNfinancialNresourcesNtoNaNbusinessNwithNtheNexpe
ctationNofNrepaymentNwithNinterest?
A) Consumers
B) Creditors
C) Investors
D) Owners
4) WhichNtypeNofNaccountingNinformationNisNintendedNtoNsatisfyNtheNneedsNofNexternal
NusersNofNaccountingNinformation?
A) CostNaccounting
B) ManagerialNaccounting
C) TaxNaccounting
D) FinancialNaccounting
5) WhichNofNtheNfollowingNisNfalseNregardingNmanagerialNaccountingNinformation?
A) ItNisNoftenNusedNbyNinvestors.
B) ItNisNmoreNdetailedNthanNfinancialNaccountingNinformation.
C) ItNcanNincludeNnonfinancialNinformation.
D) ItNfocusesNonNdivisionalNratherNthanNoverallNprofitability.
3
, 6) FinancialNaccountingNstandardsNareNknownNcollectivelyNasNGAAP.NWhatNdoesNthatN
acronymNstandNfor?
A) GenerallyNAcceptedNAccountingNPrinciples
B) GenerallyNAppliedNAccountingNProcedures
C) GovernmentallyNApprovedNAccountingNPractices
D) GenerallyNAuthorizedNAuditingNPrinciples
7) InternationalNaccountingNstandardsNareNformulatedNbyNtheNIASB.NWhatNdoesNthatN
acronymNstandNfor?
A) InternationallyNAcceptedNStandardsNBoard
B) InternationalNAccountingNStandardsNBoard
C) InternationalNAccountabilityNStandardsNBureau
D) InternationalNAccountingNandNSustainabilityNBoard
8) JackNHenryNborrowedN$800,000NfromNWaltNBankNtoNopenNaNnewNbikeNstoreNcalledN
WoodenNWheels.NJackNtransferredN$650,000NofNtheNcashNthatNheNborrowedNtoNtheNs
toreNonNtheNfirstNdayNofNtheNyear.NHowNmanyNreportingNentitiesNexistNinNthisNscenario?
A) OneNreportingNentity
B) TwoNreportingNentities
C) ThreeNreportingNentities
D) FourNreportingNentities
4
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