Exam (elaborations)

[Test bank for financial accounting for managers 1st edition by wayne thomas and david spiceland and mark nelson

0 purchase

Module
SM+ TB financial accounting for managers 1

Institution
SM+ TB Financial Accounting For Managers 1

[Test bank for financial accounting for managers 1st edition by wayne thomas and david spiceland and mark nelson FULL TEST BANK FOR Financial Accounting for Managers 1st Edition By Wayne Thomas and David Spiceland and Mark Nelson Answers are at the end of each chapter Chapter 1 Versio...

[Show more]

Preview 4 out of 1389 pages

View example

Uploaded on March 11, 2024
Number of pages 1389
Written in 2023/2024
Type Exam (elaborations)
Contains Questions & answers

test bank for financial accounting for managers 1

Module
SM+ TB financial accounting for managers 1

QUICKEXAMINER

Member since 1 year 64 documents sold

£14.29

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

Test bank for financial accounting for mana
gers 1st edition by wayne thomas and david
spiceland and mark nelson

FULL TEST BANK FOR
Financial Accounting for Managers 1st Edition By Wayne Thomas and David
Spiceland and Mark Nelson

Answers are at the end of each chapter

Chapter 1 Version 1

Student name:_
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Accounting is a system of maintaining records of a company's operations and
communicating that information to decision makers.
⊚ true
⊚ false

2) Accounting information is used by investors to decide whether to invest in a company's
stock.
⊚ true
⊚ false

3) Accounting information is used by creditors to decide whether to invest in a company's
stock.
⊚ true
⊚ false

4) The primary functions of financial accounting are to measure business activities of a
company and to communicate those measurements to internal parties for decision-making
Version 1 1

,purposes.
⊚ true
⊚ false

Version 1 2

,5) Financing activities include transactions the company has with investors and creditors.
⊚ true
⊚ false

6) Investing activities include transactions involving the purchase and sale of resources that
are expected to benefit the company for several years.
⊚ true
⊚ false

7) Operating activities include transactions that relate to the primary operations of the
company, such as providing products and services to customers and the associated costs.
⊚ true
⊚ false

8) A corporation is an entity that is legally separate from its owners.
⊚ true
⊚ false

9) Cash, inventory for sale to customers, supplies, and buildings are examples of liabilities.
⊚ true
⊚ false

10) Amounts owed to suppliers, employees, the government in the form of taxes, and utility
companies are examples of liabilities.
⊚ true
⊚ false

11) If total assets of a company equal $12,000 and total stockholders' equity equals $4,000,
then total liabilities equal $8,000.
⊚ true
⊚ false

Version 1 3

, 12) If total liabilities of a company equal $16,000 and total stockholders' equity equals
$9,000, then total assets equal $7,000.
⊚ true
⊚ false

13) The accounting equation shows that a company's total resources equal creditors' and
owners' claims to those resources.
⊚ true
⊚ false

14) The costs related to rent, utilities, and salaries in the current reporting period are
examples of liabilities.
⊚ true
⊚ false

15) The difference between revenues and expenses is referred to as net income or net loss.
⊚ true
⊚ false

16) If a company reports revenues of $17,000 and expenses of $12,000, then net income
equals $5,000.
⊚ true
⊚ false

17) Expenses include a company’s costs of providing products and services to customers, as
well as cash payments to its stockholders.
⊚ true
⊚ false

18) Dividends represent a return of the company's profits to its owners, the stockholders.
⊚ true
⊚ false

Version 1 4

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller QUICKEXAMINER. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £14.29. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69411 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 15 years now

Start selling

Seller

Exam (elaborations) ·

Exam (elaborations)

[Test bank for financial accounting for managers 1st edition by wayne thomas and david spiceland and mark nelson

Document information

Subjects

Written for