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Corporate Financial Accounting, 16th Edition TEST BANK by Carl S. Warren Jeff Jones, Verified Chapters 1 - 14, Complete Newest Version$19.49
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TEST BANK For Corporate Financial Accounting, 16th Edition by Carl S. Warren Jeff Jones, Verified Chapters 1 - 14, Complete Newest Version TEST BANK For Corporate Financial Accounting, 16th Edition by Carl S. Warren Jeff Jones, Verified Chapters 1 - 14, Complete Newest Version Test Bank For Corpora...
,Chapter 01 - Accounting and Business
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1. A corporation is a business that is legally separate and distinct from its owners.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering li
QUESTION TYPE: li True / False li li
HAS VARIABLES:
li False
LEARNING OBJECTIVES: li FNMN.WAJO.19.01 01 - LO: 01-01 li li li li
ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms
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ACCT.AICPA.BB.01 - Industry li li
ACCT.AICPA.FN.03 - li
Measurement BUSPROG: Analytic li li li
DATE CREATED:
li 7/26/2017 4:27 PM li li
DATE MODIFIED:
li 10/16/2017 3:33 PM li li
2. The role of accounting is to provide many different users with financial information to make economic decisions.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
Bloom's: Remembering li
QUESTION TYPE: li True / False li li
HAS VARIABLES:
li False
LEARNING OBJECTIVES: li FNMN.WAJO.19.01 01 - LO: 01-01 li li li li
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.AICPA.FN.03 - li
Measurement BUSPROG: Analytic li li li
DATE CREATED:
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DATE MODIFIED:
li 10/16/2017 3:33 PM li li
3. Accounting information users need reports about the economic activities and condition of businesses.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering li
HAS VARIABLES:
li False
LEARNING OBJECTIVES: li FNMN.WAJO.19.01-01 - LO: 01-01 li li li
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.AICPA.BB.01 - Industry li li
ACCT.AICPA.FN.03 - li
Measurement BUSPROG: Analytic li li li
DATE CREATED: li 7/26/2017 4:27 PM li li
DATE MODIFIED:li 10/16/2017 3:33 PM li li
4. Managerial accounting information is used by external and internal users equally.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering li
QUESTION TYPE: li True / False li li
HAS VARIABLES:
li False
LEARNING OBJECTIVES: li FNMN.WAJO.19.01 01 - LO: 01-01 li li li li
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.ACBSP.APC.25 - Managerial Characteristics/Terminology ACCT.AICPA.FN.03 - li li li li li
Measurement li
BUSPROG: Analytic li
DATE CREATED: li 7/26/2017 4:27 PM li li
DATE MODIFIED:li 10/16/2017 3:33 PM li li
5. Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the companies where t
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hey work.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
Bloom's: Remembering li
QUESTION TYPE: li True / False li li
HAS VARIABLES:
li False
LEARNING OBJECTIVES: li FNMN.WAJO.19.01 01 - LO: 01-01 li li li li
ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose
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ACCT.AICPA.BB.03 - Legal li li
ACCT.AICPA.FN.03 -Measurement BUSPROG: Ethics li li li li
DATE CREATED: li 7/26/2017 4:27 PM li li
DATE MODIFIED:li 10/16/2017 3:33 PM li li
6. Financial accounting provides information to all users, while the main focus for managerial accounting is to provide in
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