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Financial Accounting for
ST
Managers, 1st Edition
UV
TEST BANK
IA
Wayne Thomas, David Spiceland, Mark Nelson
_A
Comprehensive Test Bank for Instructors
PP
and Students
RO
||| ||| || ||| || | || ||| | || ||| |
9781260786521
VE
© Wayne Thomas, David Spiceland & Mark Nelson. All
rights reserved. Reproduction or distribution without
permission is prohibited.
D?
© MEDGEEK
, TABLE OF CONTENTS
Test Bank – Financial Accounting for Managers (1st Edition)
Authors: Wayne Thomas, David Spiceland, and Mark Nelson
ISBN: 9781260786521
ST
PART I: THE ACCOUNTING CYCLE
Chapter 1: A Framework for Financial Accounting
Chapter 2: The Accounting Cycle: During the Period
UV
Chapter 3: The Accounting Cycle: End of the Period
PART II: ASSETS AND INTERNAL CONTROLS
Chapter 4: Cash and Internal Controls
Chapter 5: Receivables and Sales
IA
Chapter 6: Inventory and Cost of Goods Sold
Chapter 7: Long-Term Assets
PART III: LIABILITIES AND STOCKHOLDERS' EQUITY
_A
Chapter 8: Current Liabilities
Chapter 9: Long-Term Liabilities
Chapter 10: Stockholders’ Equity
PP
PART IV: ANALYSIS AND REPORTING
Chapter 11: Statement of Cash Flows
Chapter 12: Financial Statement Analysis
RO
VE
D?
, FULL TEST BANK FOR
ST
Financial Accounting for Managers 1st Edition By Wayne Thomas and David
Spiceland and Mark Nelson
UV
Answers are at the end of each chapter
Chapter 1 Version 1
Student name:__________
IA
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Accounting is a system of maintaining records of a company's operations and
communicating that information to decision makers.
_A
⊚ true
⊚ false
PP
2) Accounting information is used by investors to decide whether to invest in a company's
stock.
⊚ true
⊚ false
RO
3) Accounting information is used by creditors to decide whether to invest in a company's
stock.
⊚ true
VE
⊚ false
4) The primary functions of financial accounting are to measure business activities of a
D?
company and to communicate those measurements to internal parties for decision-making
purposes.
⊚ true
⊚ false
Version 1 1
, 5) Financing activities include transactions the company has with investors and creditors.
⊚ true
⊚ false
ST
6) Investing activities include transactions involving the purchase and sale of resources that
are expected to benefit the company for several years.
⊚ true
UV
⊚ false
7) Operating activities include transactions that relate to the primary operations of the
company, such as providing products and services to customers and the associated costs.
IA
⊚ true
⊚ false
_A
8) A corporation is an entity that is legally separate from its owners.
⊚ true
⊚ false
PP
9) Cash, inventory for sale to customers, supplies, and buildings are examples of liabilities.
⊚ true
⊚ false
RO
10) Amounts owed to suppliers, employees, the government in the form of taxes, and utility
companies are examples of liabilities.
⊚ true
VE
⊚ false
11) If total assets of a company equal $12,000 and total stockholders' equity equals $4,000,
D?
then total liabilities equal $8,000.
⊚ true
⊚ false
Version 1 2
Financial Accounting for
ST
Managers, 1st Edition
UV
TEST BANK
IA
Wayne Thomas, David Spiceland, Mark Nelson
_A
Comprehensive Test Bank for Instructors
PP
and Students
RO
||| ||| || ||| || | || ||| | || ||| |
9781260786521
VE
© Wayne Thomas, David Spiceland & Mark Nelson. All
rights reserved. Reproduction or distribution without
permission is prohibited.
D?
© MEDGEEK
, TABLE OF CONTENTS
Test Bank – Financial Accounting for Managers (1st Edition)
Authors: Wayne Thomas, David Spiceland, and Mark Nelson
ISBN: 9781260786521
ST
PART I: THE ACCOUNTING CYCLE
Chapter 1: A Framework for Financial Accounting
Chapter 2: The Accounting Cycle: During the Period
UV
Chapter 3: The Accounting Cycle: End of the Period
PART II: ASSETS AND INTERNAL CONTROLS
Chapter 4: Cash and Internal Controls
Chapter 5: Receivables and Sales
IA
Chapter 6: Inventory and Cost of Goods Sold
Chapter 7: Long-Term Assets
PART III: LIABILITIES AND STOCKHOLDERS' EQUITY
_A
Chapter 8: Current Liabilities
Chapter 9: Long-Term Liabilities
Chapter 10: Stockholders’ Equity
PP
PART IV: ANALYSIS AND REPORTING
Chapter 11: Statement of Cash Flows
Chapter 12: Financial Statement Analysis
RO
VE
D?
, FULL TEST BANK FOR
ST
Financial Accounting for Managers 1st Edition By Wayne Thomas and David
Spiceland and Mark Nelson
UV
Answers are at the end of each chapter
Chapter 1 Version 1
Student name:__________
IA
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Accounting is a system of maintaining records of a company's operations and
communicating that information to decision makers.
_A
⊚ true
⊚ false
PP
2) Accounting information is used by investors to decide whether to invest in a company's
stock.
⊚ true
⊚ false
RO
3) Accounting information is used by creditors to decide whether to invest in a company's
stock.
⊚ true
VE
⊚ false
4) The primary functions of financial accounting are to measure business activities of a
D?
company and to communicate those measurements to internal parties for decision-making
purposes.
⊚ true
⊚ false
Version 1 1
, 5) Financing activities include transactions the company has with investors and creditors.
⊚ true
⊚ false
ST
6) Investing activities include transactions involving the purchase and sale of resources that
are expected to benefit the company for several years.
⊚ true
UV
⊚ false
7) Operating activities include transactions that relate to the primary operations of the
company, such as providing products and services to customers and the associated costs.
IA
⊚ true
⊚ false
_A
8) A corporation is an entity that is legally separate from its owners.
⊚ true
⊚ false
PP
9) Cash, inventory for sale to customers, supplies, and buildings are examples of liabilities.
⊚ true
⊚ false
RO
10) Amounts owed to suppliers, employees, the government in the form of taxes, and utility
companies are examples of liabilities.
⊚ true
VE
⊚ false
11) If total assets of a company equal $12,000 and total stockholders' equity equals $4,000,
D?
then total liabilities equal $8,000.
⊚ true
⊚ false
Version 1 2
