FinancialmAccountingmFundamentalsm8thmEditionmby mWildm
CH01m
Versionm1m
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m
m
m
m
m
m
m
m
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1m
TRUE/FALSE m-mWritem'T' mif mthemstatementmismtruemandm'F' mif mthemstatementmismfalse.m
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Externalmauditorsmexaminemfinancialmstatementsmtomverify mthatmthey marempreparedmaccordi
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DOWNLOADmTHEmTestmBankmformFinancialmAccountingmFundamentalsm8th
mmmmmmmmmmmmmmmmmmmmmmmmmm EditionmWild
nursytestbank.store
FinancialmAccountingmFundamentalsm8thmEditionmby mWildm
CH01m
Versionm1m
m
m
m
m
m
m
m
m
m
m
2m
6)m______
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Internalmusersmincludemlenders,mshareholders,mbrokersmandmnonexecutivememployees.m
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Themfraudmtrianglemshowsmthatmthreemfactorsmthatmpushmampersonmtomcommitmfraudmarem
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Internalmcontrolsmaremproceduresmtomprotectmassets,mensuremreliablemaccounting,mpromotem
efficiency,mandmupholdmcompany mpolicies.m
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DOWNLOADmTHEmTestmBankmformFinancialmAccountingmFundamentalsm8th
mmmmmmmmmmmmmmmmmmmmmmmmmm EditionmWild
nursytestbank.store
FinancialmAccountingmFundamentalsm8thmEditionmby mWildm
CH01m
, Versionm1m
m
m
m
m
m
m
m
m
m
m
3m
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m
12)m
Ampartnershipmismambusinessmownedmby mtwomormmorempeople.m
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Ownersmof mamcorporationmaremcalledmshareholdersmormstockholders.m
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CH01m
Versionm1m
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m
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m
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1m
TRUE/FALSE m-mWritem'T' mif mthemstatementmismtruemandm'F' mif mthemstatementmismfalse.m
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6)m
Externalmauditorsmexaminemfinancialmstatementsmtomverify mthatmthey marempreparedmaccordi
ngm
tomgenerally macceptedmaccountingmprinciples.m
DOWNLOADmTHEmTestmBankmformFinancialmAccountingmFundamentalsm8th
mmmmmmmmmmmmmmmmmmmmmmmmmm EditionmWild
nursytestbank.store
FinancialmAccountingmFundamentalsm8thmEditionmby mWildm
CH01m
Versionm1m
m
m
m
m
m
m
m
m
m
m
2m
6)m______
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⊚m
truem
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9)m______
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10)m
Themfraudmtrianglemshowsmthatmthreemfactorsmthatmpushmampersonmtomcommitmfraudmarem
opportunity,mpressure,mandmrationalization.m
10)m______
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⊚m
falsem
m
m
11)m
Internalmcontrolsmaremproceduresmtomprotectmassets,mensuremreliablemaccounting,mpromotem
efficiency,mandmupholdmcompany mpolicies.m
11)m______
m
⊚m
truem
m
⊚m
falsem
DOWNLOADmTHEmTestmBankmformFinancialmAccountingmFundamentalsm8th
mmmmmmmmmmmmmmmmmmmmmmmmmm EditionmWild
nursytestbank.store
FinancialmAccountingmFundamentalsm8thmEditionmby mWildm
CH01m
, Versionm1m
m
m
m
m
m
m
m
m
m
m
3m
m
m
12)m
Ampartnershipmismambusinessmownedmby mtwomormmorempeople.m
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m
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Ownersmof mamcorporationmaremcalledmshareholdersmormstockholders.m
13)m______
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Inmampartnership,mthemownersmaremcalledmstockholders.m
14)m______
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15)m
Thembalancemsheetmshowsmamcompany'smnetmincomemormlossmovermamperiodmof mtime.
15)m______
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