Garantie de satisfaction à 100% Disponible immédiatement après paiement En ligne et en PDF Tu n'es attaché à rien
logo-home
College Accounting A Practical Approach 14th Canadian Edition Jeffrey Slater Test Bank $19.99   Ajouter au panier

Examen

College Accounting A Practical Approach 14th Canadian Edition Jeffrey Slater Test Bank

 21 vues  0 fois vendu
  • Cours
  • College Accounting
  • Établissement
  • College Accounting

Test Bank for College Accounting A Practical Approach 14th Canadian Edition Jeffrey Slater, Debra Good. Table of Contents: Accounting Concepts and Procedures An Introduction Debits and Credits Analyzing and Recording Business Transactions Beginning the Accounting Cycle Journalizing, Posting, and th...

[Montrer plus]

Aperçu 4 sur 616  pages

  • 24 avril 2024
  • 616
  • 2024/2025
  • Examen
  • Questions et réponses
  • a practical approach
book image

Titre de l’ouvrage:

Auteur(s):

  • Édition:
  • ISBN:
  • Édition:
  • College Accounting
  • College Accounting
avatar-seller
MedExcellence
TEST BANK FOR
COLLEGE ACCOUNTING A PRACTICAL APPROACH 14TH CANADIAN EDITION
JEFFREY SLATER, DEBRA GOO
M
College Accounting, 14Ce (Slater/Good)
Chapter 1 Accounting Concepts and Procedures: An Introduction
ED
1.1 Defining and listing the functions of accounting.

1) Which of the following professional accounting designations has been replaced by "CPA"?
A) CA
B) CMA
C) CGA
C
D) All of the above
Answer: D
Diff: 1 Type: MC
O
Objective: 1-1

2) The type of business organization that can continue indefinitely is known as a
N
A) sole proprietorship.
B) partnership.
C) corporation.
N
D) None of the above.
Answer: C
Diff: 1 Type: MC
O
Objective: 1-1

3) This type of business organization is subject to income tax.
IS
A) sole proprietorship.
B) partnership.
C) corporation.
D) All of the above.
SE
Answer: C
Diff: 1 Type: MC
Objective: 1-1

4) Putting the information into the accounting system would be called
U
A) analyzing.
B) recording.
C) classifying.
R
D) summarizing.
Answer: B
Diff: 2 Type: MC
Objective: 1-1


1
Copyright © 2021 Pearson Education, Inc.

, 5) The purpose of the accounting process is to provide financial information about
A) sole proprietorships.
B) small businesses.
C) large corporations.
D) All of these answers are correct.
M
Answer: D
Diff: 2 Type: MC
Objective: 1-1
ED
6) The advantages of a corporation do NOT include
A) limited personal risk.
B) can continue indefinitely.
C) business decisions made by career administrators.
D) easy to set up.
Answer: D
C
Diff: 1 Type: MC
Objective: 1-1
O
7) Accounting reports are least helpful in answering which of the following questions?
A) How much cash was available at the end of the last year?
B) How well were the employees treated by management?
N
C) Did the company make a profit for the previous year?
D) Can the company pay its debts on time?
Answer: B
N
Diff: 3 Type: MC
Objective: 1-1
O
8) Accounting provides information to
A) managers.
B) government.
IS
C) investors.
D) All of these answers are correct
Answer: D
Diff: 2 Type: MC
SE
Objective: 1-1

9) Which of the following is a characteristic of a sole proprietorship?
A) Business owned by more than one person
B) Easy to form
U
C) Each shareholder acts as an owner of the company
D) Can continue indefinitely
Answer: B
R
Diff: 1 Type: MC
Objective: 1-1




2
Copyright © 2021 Pearson Education, Inc.

, 10) A partnership is a business which is
A) easy to form.
B) ends with the death of a partner.
C) owned by more than one person.
D) All of these answers are correct.
M
Answer: D
Diff: 1 Type: MC
Objective: 1-1
ED
11) Which is an advantage of a sole proprietorship form of business?
A) There is limited personal risk.
B) The business can continue indefinitely.
C) The owner makes all the decisions.
D) All of these answers are correct.
Answer: C
C
Diff: 1 Type: MC
Objective: 1-1
O
12) Which of the following is NOT a type of business organization?
A) Corporation
B) Partnership
N
C) Sole proprietorship
D) Operation
Answer: D
N
Diff: 2 Type: MC
Objective: 1-1
O
13) A corporation
A) can continue indefinitely.
B) is owned by shareholders.
IS
C) has limited risk to shareholders.
D) all of the above.
Answer: D
Diff: 2 Type: MC
SE
Objective: 1-1

14) The Sarbanes-Oxley Act in the United States and National Policies in Canada were passed to
A) prevent fraud at public companies.
B) replace all of the old accounting procedures with new ones.
U
C) improve the accuracy of the company's financial reporting.
D) Both A and C are correct.
Answer: D
R
Diff: 2 Type: MC
Objective: 1-1




3
Copyright © 2021 Pearson Education, Inc.

, 15) A legal firm would be considered a
A) merchandise company.
B) manufacturer.
C) service company.
D) None of the above are correct.
M
Answer: C
Diff: 1 Type: MC
Objective: 1-1
ED
16) Not-for-profit organizations
A) aim to improve society in some way.
B) seek to maximize profits.
C) usually obtain funding from donations and government grants.
D) Both A and C are correct.
Answer: D
C
Diff: 1 Type: MC
Objective: 1-1
O
17) Generally Accepted Accounting Principles are the underlying concepts that make up
acceptable accounting practices.
Answer: TRUE
N
Diff: 1 Type: TF
Objective: 1-1
N
18) Not-for-profit businesses are not permitted to earn any revenue.
Answer: FALSE
Diff: 2 Type: TF
O
Objective: 1-1

19) The primary objective of a not-for-profit business is to maximize revenue.
IS
Answer: FALSE
Diff: 1 Type: TF
Objective: 1-1
SE
20) The new accounting designation for Canada is CGA.
Answer: FALSE
Diff: 1 Type: TF
Objective: 1-1
U
21) A disadvantage of a corporation is that shareholders are held personally liable for the
corporation's debts.
Answer: FALSE
R
Diff: 2 Type: TF
Objective: 1-1




4
Copyright © 2021 Pearson Education, Inc.

Les avantages d'acheter des résumés chez Stuvia:

Qualité garantie par les avis des clients

Qualité garantie par les avis des clients

Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.

L’achat facile et rapide

L’achat facile et rapide

Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.

Focus sur l’essentiel

Focus sur l’essentiel

Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.

Foire aux questions

Qu'est-ce que j'obtiens en achetant ce document ?

Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.

Garantie de remboursement : comment ça marche ?

Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.

Auprès de qui est-ce que j'achète ce résumé ?

Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur MedExcellence. Stuvia facilite les paiements au vendeur.

Est-ce que j'aurai un abonnement?

Non, vous n'achetez ce résumé que pour $19.99. Vous n'êtes lié à rien après votre achat.

Peut-on faire confiance à Stuvia ?

4.6 étoiles sur Google & Trustpilot (+1000 avis)

79202 résumés ont été vendus ces 30 derniers jours

Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans

Commencez à vendre!
$19.99
  • (0)
  Ajouter