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TEST BANK for Financial Accounting, 13th Edition by C William Thomas and Wendy M. Tietz Verified Chapters 1 - 12, Complete Newest Version $15.49   Add to cart
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TEST BANK for Financial Accounting, 13th Edition by C William Thomas and Wendy M. Tietz Verified Chapters 1 - 12, Complete Newest Version
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TEST BANK for Financial Accounting, 13th Edition by C William Thomas and Wendy M. Tietz Verified Chapters 1 - 12, Complete Newest Version TEST BANK for Financial Accounting, 13th Edition by C William Thomas and Wendy M. Tietz TEST BANK for Financial Accounting, 13th Edition Financial Accounting, 13...

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  • November 9, 2024
  • 886
  • 2024/2025
  • Exam (elaborations)
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  • financial accounting 13th edition
  • test bank for financial accounting 13th edition b
  • test bank for financial accounting

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TEST BANK for Financial Accounting
13th Edition
by C William Thomas and Wendy M. Tietz
Verified Chapter's 1 - 12 | Complete

,TABLE OF CONTENTS z z z




1. The Financial Statements
z z z




2. Transaction Analysis
z z




3. Accrual Accounting and Income
z z z z




4. Internal Control and Cash
z z z z




5. Receivables and Revenue
z z z




6. Inventory and Cost of Goods Sold
z z z z z z




7. Plant Assets, Natural Resources, and Intangibles
z z z z z z




8. Current and Contingent Liabilities
z z z z




9. Long-Term Liabilities
z z




10. Stockholders' Equity
z z




11. The Statement of Cash Flows
z z z z z




12. Financial Statement Analysis
z z z

,1.zThezFinancialzStatements



FullzTestzBankzforzFinancialzAccountingz13thzEditionzC.zWilliamzThomas,zWendyzMzTietz

FinancialzAccounting,z13ez(Thomas/Tietz)
Chapterz1 ThezFinancialzStatements

LearningzObjectivez1-1

1) Accountingziszanzinformationzsystemzthatzmeasureszbusinesszactivitie
s.zAnswer:z TRUE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatoryz
AICPAzFunctional:z Measurement

2) Bookkeepingziszazmechanicalzpartzofzaccounting
.zAnswer:z TRUE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatoryz
AICPAzFunctional:z Measurement

3) Accountingziszoftenzcalledzthezlanguagezofzbusiness
.zAnswer:z TRUE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatoryz
AICPAzFunctional:z Measurement

4) Accountingzproduceszfinancialzstatements,zwhichzreportzinformationzaboutzazbusines
s.zAnswer:z TRUE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatory
AICPAzFunctional:z Measurement,zReporting

5) Thezaccountingzprocesszbeginszandzendszwithzpeoplezmakingzdecision
s.zAnswer:z TRUE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatoryz
AICPAzFunctional:z Measurement

, 6) Accountingzinformationziszusedzbyzinvestorszandzcreditors,zbutznotzbyzregulatoryzbodie
s.zAnswer:z FALSE
Explanation:z Itziszusedzbyzindividuals,zinvestors,zcreditors,znonprofits,zandzregulatoryzbodies.
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z IndustryzSector,zLegal/RegulatoryzAICP
AzFunctional:z Measurement,zReporting

7) SincezHabitatzforzHumanityzisznotzconcernedzaboutzmakingzazprofit,zthezentityzdoesznotzneedztozu
sezaccountingzinformation.
Answer:z FALSE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z IndustryzSector,zLegal/RegulatoryzAICP
AzFunctional:z Measurement,zReporting

8) Thezbusinesszrecordszofzazsolezproprietorshipzshouldzincludezthezproprietor'szpersonalzfinance
s.zAnswer:z FALSE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatoryz
AICPAzFunctional:z Measurement

9) Azpartnershipziszaztaxpayingzentity
.zAnswer:z FALSE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatoryz
AICPAzFunctional:z Measurement

10) Stockholderszhaveznozpersonalzobligationzforzthezcorporation'szdebt
s.zAnswer:z TRUE
Diff:z1
LO:z 1-1
AACSB:z ReflectivezThinking
AICPAzBuszPersp:z Legal/Regulatoryz
AICPAzFunctional:z Measurement




11) Accounting:
A) measureszbusinesszactivities.
B) processeszdatazintozreportszandzcommunicateszthezdataztozdecisionzmakers.
C) iszoftenzcalledzthezlanguagezofzbusiness.
D) iszallzofzthezabove
.zAnswer:z D
Diff:z2
LO:z 1-1

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