Tuesday, March 31, 2015

111 Free Test Bank for Financial Accounting 9th Edition by Harrison

Truly understanding the underlying financial accounting concepts is crucial and seems to be the secret sauce to this subject because accounting exams will consist mainly of dealing with problems. Reading the textbook for thorough explanation of the concepts and making the leap from rote memorization to getting the concepts is not a good idea. What always helps students is free test bank of Financial Accounting 9th Edition Harrison that is willing to explain problems in detail illustrated by specific situations in business and give clear answer to them. Focus on our practical test bank of financial accounting for free. Just take a few minutes to complete all 111 mutple choice questions below to be checked with test bank.
Kindly go the link below to get full questions and answers:
Which of the following is a true statement about the characteristics of partnerships?
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To be useful, accounting information must have the fundamental qualitative characteristics of:
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In which form of business ownership are the owners of a business legally distinct from the business?
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An entity that is organized according to state law and in which ownership units are called stock is a:
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The accounting equation can be stated as:
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Historical cost:
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Shareholders of a corporation:
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Verifiability means that the information:
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Which of the following is a correct statement about GAAP and IFRS?
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Decision makers who use accounting include:
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Which type of business organization transacts the most business and is the largest in terms of assets, income, and number of employees?
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The accounting assumption that states that the business, rather than its owners, is the reporting unit is the:
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The type of accounting that makes projections to determine if a company should build a new store is:
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Another way to state the accounting equation is:
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The assets of a company:
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Liabilities are:
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________ means that the accounting information for a company must be prepared in such a way as to be capable of being compared with information from other companies in the same period and consistent with similar information for that company in previous periods.
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Accounting:
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The ________ is elected by the stockholders and is responsible for setting policy and appointing officers.
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An entity that must pay its own income taxes is:
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All of the following are true statements about the entity assumption EXCEPT for:
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An important fact to remember when studying GAAP and IFRS is:
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The CEO of ABC Company owns a vacation home in Hawaii. ABC owns a factory in Detroit where they are headquartered. Which of these properties is considered an asset(s) of the business?
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When dealing with the elements of the financial statements, it is important to consider that:
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When preparing accounting information, understand that:
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The relevant measure of the value of the assets of a company that is going out of business is the:
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The stable-monetary-unit assumption:
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The Financial Accounting Standards Board is responsible for establishing:
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Examples of liabilities include:
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The two types of accounting are:
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Regarding financial statement elements:
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An important fact to consider when determining how to organize a business is that:
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The principle stating that assets acquired by the business should be recorded at their actual cost on the date of purchase is the:
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Owners of an LLC are called:
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A construction company paid $80,000 cash for equipment used in the business. At the time of purchase, the equipment had a list price of $90,000. When the balance sheet was prepared, the value of the equipment was $83,000. At what amount should the equipment be recorded in the records of the company?
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The owners' equity of any business is its:
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The acronym GAAP stands for:
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If a company prepares its financial statements three years after the end of their accounting period, they have violated the qualitative characteristic of :
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