100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
TEST BANK AND SOLUTIONS FOR FUNDAMENTAL ACCOUNTING PRINCIPLES VOL 1, 16TH EDITIONBY LARSON|QUESTIONS AND CORRECT ANSWERS 2025|100% PASS|A+ GUARANTEED $15.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. FUNDAMENTAL ACCOUNTING PRINCIPLES
  4.  
  5. FUNDAMENTAL ACCOUNTING PRINCIPLES

Exam (elaborations)

TEST BANK AND SOLUTIONS FOR FUNDAMENTAL ACCOUNTING PRINCIPLES VOL 1, 16TH EDITIONBY LARSON|QUESTIONS AND CORRECT ANSWERS 2025|100% PASS|A+ GUARANTEED
 0 purchase
  • Course
  • FUNDAMENTAL ACCOUNTING PRINCIPLES
  • Institution
  • FUNDAMENTAL ACCOUNTING PRINCIPLES

TEST BANK AND SOLUTIONS FOR FUNDAMENTAL ACCOUNTING PRINCIPLES VOL 1, 16TH EDITIONBY LARSON|QUESTIONS AND CORRECT ANSWERS 2025|100% PASS|A+ GUARANTEED

Preview 4 out of 203  pages

Document information

  • August 12, 2024
  • 203
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • test bank and solutions for fundamental accounting
  • accounting is an information system that identifie
  • an obligation of a business that represents the cl
  • from the information given in reference prepare

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

All for this textbook (8)

Written for

  • FUNDAMENTAL ACCOUNTING PRINCIPLES
  • FUNDAMENTAL ACCOUNTING PRINCIPLES

Seller

avatar-seller
BESTGRADETESTBANKS

Reviews received

Content preview

TEST BANK AND SOLUTIONS FOR
FUNDAMENTAL ACCOUNTING PRINCIPLES
VOL 1, 16TH EDITIONBY LARSON|QUESTIONS
AND CORRECT ANSWERS 2025|100% PASS|A+
GUARANTEED

, Chapter 01
Accounting in Business




True / False Questions


1. Accounting is an information system that identifies, measures, records and communicates
relevant information that objectively and correctly represents an organization's economic
activities.
TRUE




Accessibility: Keyboard
Navigation Blooms:
Remember
Difficulty: Easy
Learning Objective: 01-01 Describe the purpose and
importance of accounting. Topic: 01-02 Power of
Accounting



2. Accounting information helps people make better decisions about the performance of a
business.
TRUE




Accessibility: Keyboard
Navigation Blooms:
Remember
Difficulty: Easy
Learning Objective: 01-01 Describe the purpose and
importance of accounting. Topic: 01-02 Power of
Accounting



3. The main objective of accounting is to help people to invest in new products and
businesses.
FALSE

,Accessibility: Keyboard
Navigation Blooms:
Remember
Difficulty: Easy
Learning Objective: 01-01 Describe the purpose and
importance of accounting. Topic: 01-07 External
Information Users

1-1

, 4. Recordkeeping" is another term for "accounting".
FALSE



Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-01 Describe the purpose and importance of accounting.
Topic: 01-03 Focus of Accounting



5. A sole proprietorship is a business owned by one or more persons.
FALSE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-02 Describe forms of business organization.
Topic: 01-05 Business Organizations



6. A partnership requires no special legal requirements to start, other than to register the
business name and obtain a business licence.
TRUE


Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 01-02 Describe forms of business organization.
Topic: 01-05 Business Organizations



7. Ownership of a corporation is divided into units called shares.
TRUE




Accessibility: Keyboard
Navigation Blooms:
Remember
Difficulty: Easy
Learning Objective: 01-02 Describe forms of
business organization. Topic: 01-05 Business
Organizations

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

Quick and easy check-out

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

Focus on what matters

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 BESTGRADETESTBANKS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.49. 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 study notes for 15 years now

Start selling
$15.49
  • (0)
Add to cart
Added