Test Bank Accounting 12th Edition
David Marshall accounting book
What the Numbers Mean textbook
accounting test bank chapters 1-16
Test Bank for David Marshall
Accounting chapters 1 to 16 test bank
What the Numbers Mean 12th edition
David Marshall accounting test bank
Accounting solutions c...
1) Whichjofjthejfollowingjentitiesjwouldjnotjrequirejaccountingjinformationjpertainingjtojtheirjeco
nomicjactivities?
A) Socialjclubs.
B) Not-for-profitjentities.
C) Statejgovernments.
D) Alljofjthesejentitiesjrequirejaccountingjinformation.
2) Thejauthoritativejfinancialjaccountingjstandards-
settingjbodyjinjthejUnitedjStatesjisjpresentlyjthe:
A) SecuritiesjandjExchangejCommissionj(SEC)
B) InternationaljAccountingjStandardsjBoardj(IASB)
C) PublicjCompanyjAccountingjOversightsjBoardj(PCAOB)
D) FinancialjAccountingjStandardsjBoardj(FASB)
E) AccountingjPrinciplesjBoardj(APB)
, 3) WhichjofjthejfollowingjstatementsjaboutjthejFinancialjAccountingjStandardsjBoardjisjcor
rect?
A) ThejFASBjisjanjagencyjofjthejFederaljgovernment.
B) ThejFASBjhasjthejauthorityjtojfinejajnoncompliantjfirm.
C) ThejFASBjfollowsjajduejprocessjprocedurejthatjpermitsjinputjfromjinterestedjpartiesjbeforejanjA
ccountingjStandardsjUpdatej(ASU)jisjissued.
D) ThejFASBjisjcontrolledjbyjthejAmericanjInstitutejofjCPAs.
4) Majorjclassificationsjofjaccountingjactivityjwouldjnotjinclude:
A) financialjaccounting,jinternaljauditing,jpublicjaccounting.
B) internaljauditing,jgovernmentaljaccounting,jmanagerialjaccounting.
C) financialjaccounting,jnationaljaccounting,jcostjaccounting.
D) auditing,jincomejtaxjaccounting,jgovernmentaljaccounting.
5) Whichjofjthejfollowingjisjnotjanjexamplejofjajdecisionjorjinformedjjudgmentjthatjajpotentialjinvest
orjwouldjmakejfromjaccountingjinformation?
A) Futurejprofitabilityjbasedjonjpastjprofitability.
B) Probabilityjofjsuccessjofjajnewjproductjdevelopment.
C) Ajforecastjofjdividends.
D) Assessmentjofjriskjthatjajcompanyjmayjhavejmorejdebtjthanjitjcanjrepayjifjthejeconomyjenters
jajrecession.
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