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Test Bank for College Accounting: A Practical Approach, 15th Canadian Edition by Jeffrey Slater CA$41.16   Add to cart

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Test Bank for College Accounting: A Practical Approach, 15th Canadian Edition by Jeffrey Slater

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Complete Test Bank for College Accounting: A Practical Approach, Canadian Edition, 15th edition 15ce by Jeffrey Slater, Debra Good. ISBN-13: 7646 Full Chapters test bank included with Instant Download - PDF Accounting Concepts and Procedures An Introduction Debits and Credits Analyzing and R...

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  • July 12, 2023
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College Accounting: A Practical Approach, 15Ce (Slater)
Chapter 1 Accounting Concepts and Procedures: An Introduction

1.1 Defining and listing the functions of accounting.

1) Which of the following professional accounting designations has been replaced by "CPA"?
A) CA
B) CMA
C) CGA
D) All of the above
Answer: D
Diff: 1 Type: MC
Objective: 1-1

2) The type of business organization that can continue indefinitely is known as a
A) sole proprietorship.
B) partnership.
C) corporation.
D) None of the above.
Answer: C
Diff: 1 Type: MC
Objective: 1-1

3) This type of business organization is subject to income tax.
A) Sole proprietorship
B) Partnership
C) Corporation
D) All of the above
Answer: C
Diff: 1 Type: MC
Objective: 1-1

4) This type of business organization is not subject to income tax but owners must pay tax on income
earned.
A) Sole proprietorship
B) Partnership
C) Corporation
D) Both A and B are correct
Answer: D
Diff: 1 Type: MC
Objective: 1-1




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