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FINANCIAL ACCOUNTING 2ND EDITION BY DON HERRMANN, J. DAVID SPICELAND, WAYNE THOMAS
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FINANCIAL ACCOUNTING 2ND EDITION BY DON HERRMANN, J. DAVID SPICELAND, WAYNE THOMAS
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FINANCIAL ACCOUNTING 2ND EDITION BY DONHERRMANN, J. DAVID SPICELAND, WAYNE THOMAS
LATEST EXAM UPDATE CHAPTERS 1, 2 AND 3
COMPLETE REVIEW WITH CORRECTLY ANSWERED
SINGLE CHOICE QUESTIONS
Financial wAccounting w2nd wEdition wby wDon wHerrmann, wJ. wDavid
w Spiceland, wWayne wThomas
Textbook wsolutions
Verified
Chapter w1:Accounting wInformation wand wDecision wMaking
Chapter w2:The wAccounting wInformation wSystem
Chapter w3:The wFinancial wReporting wProcess
,Chapter w4:Cash wand wInternal wControls
Chapter w5:Receivables wand wSales
Chapter w6:Inventory wand wCost wof wGoods wSold
Chapter w7:Long-Term wAssets
Chapter w8:Current wLiabilities
Chapter w9:Long-Term wLiabilities
Chapter w10:Stockholder's wEquity
Chapter w11:Statement wof wCash wFlows
Chapter w12:Financial wStatement wAnalysis
Chapter wAppendix wC:Time wValue wof wMoney
,Chapter wAppendix wD:Investments
Chapter wAppendix wE:International wFinancial wReporting wStandards
Accounting w w w w w w w w wANSWER: w✔- wan winformation wsystem wthat
provides wreports wto wstakeholders wabout wthe weconomic wactivities
w
and wcondition wof wa wbusiness
w
Accounting wEquation w w w w w w w w wANSWER: w✔-
assets=liabilities+stockholders wequity
w
Accounting wPeriod wConcept w w w w w w w w wANSWER: w✔- wAn waccounting
concept win wwhich waccounting wdata ware wrecorded wand
w
summarized win wa wperiod wprocess.
w
, Accounts wPayable w w w w w w w w wANSWER: w✔- wLiabilities wfor wamounts
incurred wfrom wpurchases wof wproducts wor wservices win wthe wnormal
w
operations wof wa wbusiness
w
Accounts wReceivable w w w w w w w w wANSWER: w✔- wLiabilities wfor
amounts wincurred wfrom wpurchases wof wproducts wor wservices win
w
the wnormal woperations wof wa wbusiness
w
Adequate wDisclosure wConcept w w w w w w w w wANSWER: w✔- wAn
accounting wconcept wthat wrequires wfinancial wstatements wto
w
include wall wrelevant wdata wa wreader wneeds wto wunderstand wthe
w
financial wcondition wand wperformance wof wa wbusiness.
w
Administrative wExpenses w w w w w w w w wANSWER: w✔- wExpenses wincurred
in wthe wadministration wor wgeneral woperations wof wthe wbusiness.
w
Assets w w w w w w w w wANSWER: w✔- wresources wowned wby wa wbusiness
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