Test Bank For Accounting, 9th Australian Edition Miller-Nobles (All Chapters included)
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Course
Accounting
Institution
Accounting
Complete Test Bank for Accounting, 9th Australian Edition by Tracie Miller-Nobles, Brenda Mattison, Ella Mae Matsumura, Peter Best, David Keene, Rebecca Tan, Roger Willett ; ISBN13: 9781488617362. (Full Chapters included Chapter 1 to 23)...
1. The role of accounting in decision making.
2. Recordi...
Chapter 1: The Role of Accounting in Decision Making
Multiple choice: Choose the alternative(s) that best completes the statement
or answers the question.
1. Users of management accounting information are most likely to be:
A. business managers.
B. potential investors.
C. customers.
D. creditors.
Answer: A
Difficulty: Basic
AACSB: Analytical Thinking, Reflective Thinking
Learning Objective: 1 Explain why accounting is important
A-Head: Why is accounting important?
2. Which of the following are likely to be users of financial accounting information?
A. Taxing authorities
B. Potential investors
C. Creditors
D. All of the above
Answer: D
Difficulty: Basic
AACSB: Analytical Thinking, Reflective Thinking
Learning Objective: 1 Explain why accounting is important
A-Head: Why is accounting important?
True/False: Write 'T' if the statement is true and 'F' if the statement is false.
3. Accounting is the information system that measures business activity, processes the
data into reports and communicates the results to decision makers.
A. True
B. False
Answer: True
Difficulty: Basic
9781488617362/Miller-
Nobles/Accounting/9e
, AACSB: Analytical Thinking, Reflective Thinking
Learning Objective: 1 Explain why accounting is important
A-Head: Why is accounting important?
4. Outside investors would ordinarily use financial accounting information to decide
whether or not to invest in a business.
A. True
B. False
Answer: True
Difficulty: Basic
AACSB: Analytical Thinking, Reflective Thinking
Learning Objective: 1 Explain why accounting is important
A-Head: Why is accounting important?
5. Management accounting focuses on information for decision makers outside of the
business, such as outside investors and lenders.
A. True
B. False
Answer: False
Difficulty: Basic
AACSB: Analytical Thinking, Reflective Thinking
Learning Objective: 1 Explain why accounting is important
A-Head: Why is accounting important?
6. Accounting is 'the language of business'.
A. True
B. False
Answer: True
Difficulty: Basic
AACSB: Analytical Thinking, Reflective Thinking
Learning Objective: 1 Explain why accounting is important
A-Head: Why is accounting important?
7. An investor is someone who lends money to a business.
A. True
B. False
Answer: False
Difficulty: Basic
AACSB: Analytical Thinking, Reflective Thinking
2
9781488617362/Miller-
Nobles/Accounting/9e
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