Thursday, March 12, 2015

84 Free Test Bank for Financial Accounting 1st Edition by Waybright 

Don’t lost confidence if you seem not to get a firm grasping of accounting concepts in your learning process. 84 Free Test Bank for Financial Accounting 1st Edition by Waybright Multiple Choice Questions throw away that fear of financial accounting. Through a variety of accounting questions from multiple choice, true/false to free text, students have a straightforward approach to the financial accounting world and in-depth thinking of knowledge. Just one simple click and submit for all, we would like to give you a true gauge of how well your study is. Come on! Hurry to check!
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Rick owns a sporting goods store. In his initial accounting records, he included his personal computer and all of his personal sporting gear. Rick is violating what principle of accounting?
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Which of the following may create an ethical dilemma?
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GAAP is the acronym for generally accepted _______________ principles.
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A business pays off a note payable. What effect does this have on the accounting equation?
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Words such as sales, expenses, financial statements, etc. are all part of the:
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To take an inventory of goods to be sold would be representative of what accounting concept or principle?
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What is the purpose of financial accounting information?
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Which of the following is NOT a reason to study accounting?
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Which of the following types of organizations would produce goods?
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By definition, which type of organization has stockholders?
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A company has $123,000 in assets and $65,000 in liabilities. How much does the company have in stockholders’ equity?
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Which of the following do NOT pay taxes through their individual owners?
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Revenues would have which of the following effects on the accounting equation?
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A company has liabilities of $23,500 and stockholders’ equity of $56,500. How much does the company have in assets?
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Which of the following concepts would NOT be considered if you were to compare the price of a Camaro in 1979 to the price of a Camaro in 2009?
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To ensure that the guidelines for right behavior are followed, a corporation should follow:
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Revenues, expenses and dividends are all a part of:
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Most assets should be listed at:
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Which of the following is a written promise to pay?
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Miranda opens her business by investing $12,000. How does this affect the accounting equation?
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Accountants who ignore the effect of inflation on prices may be violating which accounting principle?
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A business purchases a computer for cash. What effect does this have on the accounting equation?
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Cash and Accounts receivable are both a part of:
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If total assets remain the same and total stockholders’ equity increases, liabilities will:
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Which type of company is best described as having ownership by stock and double taxation of earnings?
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The main goal of understanding the process of accounting is to help ensure that the business is:
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The accounting principle that best defines a business is:
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Home Depot would primarily be considered a:
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FASB is made up of ___________ members.
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Which of the following is a disadvantage of the corporate form of business?
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Which of the following business forms is similar to a corporation in regard to owner liability?
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Rick is negotiating with friends who may buy some camping equipment in the near future. He records this information as possible sales. What principle is Rick violating?
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When a person combines separate business accounts, what concept or principle of accounting is being violated?
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The __________ issues pronouncements that are guidelines for accounting practice.
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One of the newer forms of business discussed in the text is a:
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Brandon borrowed money for his business from a local bank. What accounts will be affected?
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Ethical dilemmas may be created by all of the following EXCEPT:
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The guidelines that describe the rules of accounting are called:
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Financial statements are prepared based on which of the following?
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Ethical behavior is encouraged because:
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Which statement is FALSE about ethics?
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A tax service is primarily a:
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Which accounting concept or principle specifically states that we should record transactions that can be verified?
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Which type of business organization is owned by its stockholders?
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Rick lists his building at current replacement value, rather than the price he paid for the building. What principle is Rick violating?
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Which of the following is considered an asset?
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Which of the following types of organization would probably sell goods?
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Liabilities represent:
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