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Test Bank for Survey of Accounting, 3rd Edition Kimmel (All Chapters included) CA$42.47   Add to cart
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Test Bank for Survey of Accounting, 3rd Edition Kimmel (All Chapters included)
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Complete Test Bank for Survey of Accounting, 3rd Edition by Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell ; ISBN13: 9781119895688. (Full Chapters included Chapter 1 to 19)....1 Introduction to Financial Statements 2 A Further Look at the Balance Sheet 3 The Accounting Information System 4 ...

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  • February 25, 2024
  • 2616
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • quiz bank
  • exam practice
  • tests
  • quizzes
  • survey
  • accounting
  • 3rd edition
  • kimmel
  • 9781119895688
  • exam bank
  • practice quizzes
  • test bank
  • 3e

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  • Managerial Accounting
  • Managerial Accounting

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TEST BANK




Survey of Accounting
3rd Edition Kimmel




Complete Chapters Test Bank
are included (Ch 1 to 19)




** Immediate Download
** Swift Response
** All Chapters included

,Survey of Accounting, 3e (Kimmel)
Chapter 1 Introduction to Financial Statements

1) A business organized as a separate legal entity owned by stockholders is a partnership.
Answer: FALSE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Reporting
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1

2) Corporate stockholders generally pay higher taxes but have no personal liability.
Answer: TRUE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Business Economics
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1

3) The liability of corporate stockholders is limited to the amount of their investment.
Answer: TRUE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Business Economics
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1

4) The majority of U.S. business is transacted by proprietorships.
Answer: FALSE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Business Economics
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1




1

, 5) Proprietorships in the United States generate more revenue than the other two forms of
business enterprise.
Answer: FALSE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Reporting
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1

6) Owners of business firms are the only people who need accounting information.
Answer: FALSE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Business Economics
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1

7) Management of a business enterprise is the major external user of information.
Answer: FALSE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Reporting
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1

8) External users of accounting information are managers who plan, organize, and run a
business.
Answer: FALSE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Reporting
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1

9) The information needs and questions of external users vary considerably.
Answer: TRUE
Diff: 1
LO: 1
Bloom: K
AACSB / IMA: None / Reporting
AICPA: BB: Legal/Regulatory Perspective; FC: Reporting; PC: None
Minutes: 1


2

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