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Financial Accounting:
UV V
S
Information for Decisions,
9th Edition
IAIA
TEST BANK
?_?_
AAP
John Wild
PPPR
Comprehensive Test Bank for Instructors
and Students
ROOV
||| ||| || ||| || | || ||| | || ||| |
9781259917042
VE D
© John Wild. All rights reserved. Reproduction or distribution
E
without permission is prohibited.
D? ?
?
© MEDGEEK
,ST TU
TABLE OF CONTENTS
Test Bank – Financial Accounting: Information for Decisions (9th Edition)
Author: John Wild
UV V
S
ISBN: 9781259917042
PART I: THE ACCOUNTING CYCLE AND FOUNDATIONS
Chapter 1: Introducing Financial Statements
Chapter 2: Financial Statements and the Accounting System
Chapter 3: Adjusting Accounts for Financial Statements
IAIA
PART II: OPERATIONAL ASSETS AND CONTROLS
Chapter 4: Reporting and Analyzing Merchandising Operations
?_?_
Chapter 5: Reporting and Analyzing Inventories
Chapter 6: Reporting and Analyzing Cash, Fraud, and Internal Control
Chapter 7: Reporting and Analyzing Receivables
Chapter 8: Reporting and Analyzing Long Term Assets
PART III: LIABILITIES AND EQUITY
AAP
Chapter 9: Reporting and Analyzing Current Liabilities
Chapter 10: Reporting and Analyzing Long Term Liabilities
Chapter 11: Reporting and Analyzing Equity
PPPR
PART IV: ANALYSIS AND INTERPRETATION
Chapter 12: Reporting and Analyzing Cash Flows
Chapter 13: Analyzing and Interpreting Financial Statements
ROOV
VE D
E
D? ?
?
,ST TU
Financial Accounting, 9e (Wild)
Chapter 1 Introducing Financial Statements
1) Accounting is an information and measurement system that identifies, records, and
UV V
S
communicates relevant, reliable, and comparable information about an organization's business
activities.
Answer: TRUE
Difficulty: 1 Easy
Topic: Importance of Accounting
Learning Objective: 01-C1 Explain the purpose and importance of accounting.
IAIA
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
?_?_
2) Recordkeeping, or bookkeeping, is the recording of transactions and events, either manually
or electronically.
Answer: TRUE
Difficulty: 1 Easy
Topic: Importance of Accounting
AAP
Learning Objective: 01-C1 Explain the purpose and importance of accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
PPPR
3) Accounting is an information and measurement system that identifies, records, and
communicates information about an organization's business activities.
Answer: TRUE
Difficulty: 1 Easy
ROOV
Topic: Importance of Accounting
Learning Objective: 01-C1 Explain the purpose and importance of accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
VE D
E
D? ?
?
1
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
,ST TU
4) Financial accounting serves external users by providing them with general-purpose financial
statements.
Answer: TRUE
UV V
S
Difficulty: 1 Easy
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
5) External users of accounting information do not directly run the organization and have limited
IAIA
access to its accounting information.
Answer: TRUE
Difficulty: 1 Easy
?_?_
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
AAP
6) The primary objective of managerial accounting is to provide general purpose financial
statements to help external users analyze and interpret an organization's activities.
Answer: FALSE
Difficulty: 1 Easy
PPPR
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
ROOV
7) External auditors examine financial statements to verify that they are prepared according to
generally accepted accounting principles.
Answer: TRUE
VE D
Difficulty: 1 Easy
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
E
Bloom's: Remember
AACSB: Communication
D? ?
AICPA: BB Industry; FN Decision Making
?
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
ST TU
Financial Accounting:
UV V
S
Information for Decisions,
9th Edition
IAIA
TEST BANK
?_?_
AAP
John Wild
PPPR
Comprehensive Test Bank for Instructors
and Students
ROOV
||| ||| || ||| || | || ||| | || ||| |
9781259917042
VE D
© John Wild. All rights reserved. Reproduction or distribution
E
without permission is prohibited.
D? ?
?
© MEDGEEK
,ST TU
TABLE OF CONTENTS
Test Bank – Financial Accounting: Information for Decisions (9th Edition)
Author: John Wild
UV V
S
ISBN: 9781259917042
PART I: THE ACCOUNTING CYCLE AND FOUNDATIONS
Chapter 1: Introducing Financial Statements
Chapter 2: Financial Statements and the Accounting System
Chapter 3: Adjusting Accounts for Financial Statements
IAIA
PART II: OPERATIONAL ASSETS AND CONTROLS
Chapter 4: Reporting and Analyzing Merchandising Operations
?_?_
Chapter 5: Reporting and Analyzing Inventories
Chapter 6: Reporting and Analyzing Cash, Fraud, and Internal Control
Chapter 7: Reporting and Analyzing Receivables
Chapter 8: Reporting and Analyzing Long Term Assets
PART III: LIABILITIES AND EQUITY
AAP
Chapter 9: Reporting and Analyzing Current Liabilities
Chapter 10: Reporting and Analyzing Long Term Liabilities
Chapter 11: Reporting and Analyzing Equity
PPPR
PART IV: ANALYSIS AND INTERPRETATION
Chapter 12: Reporting and Analyzing Cash Flows
Chapter 13: Analyzing and Interpreting Financial Statements
ROOV
VE D
E
D? ?
?
,ST TU
Financial Accounting, 9e (Wild)
Chapter 1 Introducing Financial Statements
1) Accounting is an information and measurement system that identifies, records, and
UV V
S
communicates relevant, reliable, and comparable information about an organization's business
activities.
Answer: TRUE
Difficulty: 1 Easy
Topic: Importance of Accounting
Learning Objective: 01-C1 Explain the purpose and importance of accounting.
IAIA
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
?_?_
2) Recordkeeping, or bookkeeping, is the recording of transactions and events, either manually
or electronically.
Answer: TRUE
Difficulty: 1 Easy
Topic: Importance of Accounting
AAP
Learning Objective: 01-C1 Explain the purpose and importance of accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
PPPR
3) Accounting is an information and measurement system that identifies, records, and
communicates information about an organization's business activities.
Answer: TRUE
Difficulty: 1 Easy
ROOV
Topic: Importance of Accounting
Learning Objective: 01-C1 Explain the purpose and importance of accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
VE D
E
D? ?
?
1
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
,ST TU
4) Financial accounting serves external users by providing them with general-purpose financial
statements.
Answer: TRUE
UV V
S
Difficulty: 1 Easy
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
5) External users of accounting information do not directly run the organization and have limited
IAIA
access to its accounting information.
Answer: TRUE
Difficulty: 1 Easy
?_?_
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
AAP
6) The primary objective of managerial accounting is to provide general purpose financial
statements to help external users analyze and interpret an organization's activities.
Answer: FALSE
Difficulty: 1 Easy
PPPR
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Decision Making
ROOV
7) External auditors examine financial statements to verify that they are prepared according to
generally accepted accounting principles.
Answer: TRUE
VE D
Difficulty: 1 Easy
Topic: Users of Accounting Information
Learning Objective: 01-C2 Identify users and uses of, and opportunities in, accounting.
E
Bloom's: Remember
AACSB: Communication
D? ?
AICPA: BB Industry; FN Decision Making
?
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
