Test Bank for Intermediate Accounting: Reporting and Analysis, 4th Edition by Wahlen
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Course
Intermediate Accounting
Institution
Intermediate Accounting
Test Bank for Intermediate Accounting: Reporting and Analysis 4th Edition 4e by James M. Wahlen; Jefferson P. Jones; Donald P. Pagach. ISBN 5708
Part 1: Financial Reporting & Financial Statements: Objectives, Concepts, & Analysis
Chapter 1: The Demand for and Supply of Financial Accounting Info...
1. A problem arising from equal information is called information asymmetry.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.1 - LO: 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom's: Remember
DATE CREATED: 8/27/2018 10:46 AM
DATE MODIFIED: 4/14/2023 11:31 AM
2. The demand for relevant and reliable financial information stems from the needs of the internal and external
stakeholders.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.1 - LO: 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom's: Remember
DATE CREATED: 8/27/2018 10:46 AM
DATE MODIFIED: 4/14/2023 11:31 AM
3. The mission of the Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient
markets, and assist in the formation of capital.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.2 - LO: 1.2
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
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