TEST BANK For Financial Accounting, 6th Edition By David Spiceland, Wayne Thomas, Verified Chapters 1 - 12, Complete Newest VersionTEST BANK For Financial Accounting, 6th Edition By David Spiceland, Wayne Thomas, Verified Chapters 1 - 12, Complete Newest VersionTEST BANK For Financial Accounting, 6...
TEST BANK Financial Accounting, 6th Edition
a a a a a a
Chapters 1 – 12 Complete
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By David Spiceland, Wayne Thomas and Don Herrmann
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,TABLE OF CONTENTS a a a
Chapter 1: A Framework for Financial Accounting
a a a a a a
Chapter 2: The Accounting Cycle: During the Period
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Chapter 3: The Accounting Cycle: End of the Period
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Chapter 4: Cash and Internal Controls
a a a a a
Chapter 5: Receivables and Sales
a a a a
Chapter 6: Inventory and Cost of Goods Sold
a a a a a a a
Chapter 7: Long-Term Assets
a a a
Chapter 8: Current Liabilities
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Chapter 9: Long-Term Liabilities
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Chapter 10: Stockholders’ Equity
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Chapter 11: Statement of Cash Flows
a a a a a
Chapter 12: Financial Statement Analysis
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,Chapter a1 a A aFramework afor aFinancial aAccounting
1) Accounting ais aa asystem aof amaintaining arecords aof aa acompany's aoperations aand
acommunicatingathat ainformation a to adecision amakers.
Answer: aTRUE
aDifficulty: a1
aEasy
Topic: a Defining aAccounting
Learning aObjective: a 01-01 aDescribe athe atwo aprimary afunctions aof afinancial aaccounting.
aBloom's: aRemember
AACSB: aReflective aThinking
aAICPA: a BB aCritical
aThinking
2) Accounting ainformation ais aused aby ainvestors ato adecide awhether ato ainvest ain aa acompany's
astock.
Answer: aTRUE
aDifficulty: a1
aEasy
Topic: a Defining aAccounting
Learning aObjective: a 01-01 aDescribe athe atwo aprimary afunctions aof afinancial aaccounting.
aBloom's: aRemember
AACSB: aReflective aThinking
aAICPA: a BB aCritical
aThinking
3) Accounting ainformation ais aused aby acreditors ato adecide awhether ato ainvest ain aa acompany's
astock.
Answer: a FALSE
Explanation: aCreditors alend amoney ato aa
acompany.aDifficulty: a1 aEasy
Topic: a Defining aAccounting
Learning aObjective: a 01-01 aDescribe athe atwo aprimary afunctions aof afinancial aaccounting.
aBloom's: aRemember
AACSB: aReflective aThinking
aAICPA: a BB aCritical
aThinking
4) The aprimary afunctions aof afinancial aaccounting aare ato ameasure abusiness aactivities aof aa
acompanyaand ato acommunicate athose ameasurements ato ainternal aparties afor adecision-making
apurposes.
Answer: a FALSE
Explanation: aFinancial aaccounting aprimarily aserves ato aprovide ainformation ato aexternal
, a parties.aDifficulty: a2 aMedium
Topic: a Defining aAccounting
Learning aObjective: a 01-01 aDescribe athe atwo aprimary afunctions aof afinancial aaccounting.
aBloom's: aUnderstand
AACSB: aReflective aThinking
aAICPA: a BB aCritical
aThinking
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