Tuesday, April 14, 2015

148 Free Test Bank for Financial Accounting 8th Edition by Weygandt

To help students further understand fundamental concepts, 148 free test bank for Financial Accounting Weygandt 8th Edition Multiple Choice Questions provides many questions with instant answers which assist learners to apply accounting effectively today. Just click away as follows.
Kindly go to the link below to get full questions and answers:
Generally accepted accounting principles are
  •  
  •  
  •  
  •  
A basic assumption of accounting assumes that the dollar is
  •  
  •  
  •  
  •  
The SEC and FASB are two organizations that are primarily responsible for establishing generally accepted accounting principles. It is true that
  •  
  •  
  •  
  •  
The economic entity assumption requires that the activities
  •  
  •  
  •  
  •  
Communication of economic events is the part of the accounting process that involves
  •  
  •  
  •  
  •  
Accounting consists of three basic activities which are related to economic events of an organization. These include
  •  
  •  
  •  
  •  
Which one of the following is not an external user of accounting information?
  •  
  •  
  •  
  •  
The cost principle requires that when assets are acquired, they be recorded at
  •  
  •  
  •  
  •  
The private sector organization involved in developing accounting principles is the
  •  
  •  
  •  
  •  
A business organized as a corporation
  •  
  •  
  •  
  •  
The accounting process is correctly sequenced as
  •  
  •  
  •  
  •  
Financial accounting provides economic and financial information for all of the following except
  •  
  •  
  •  
  •  
Andre Dickinson, owner of Andre's Fine Wines, also owns a personal residence that costs $475,000. The market value of his residence is $625,000. During preparation of the financial statements for Andre's Fine Wines, the accounting concept most relevant to the presentation of Andre's home is
  •  
  •  
  •  
  •  
The origins of accounting are generally attributed to the work of
  •  
  •  
  •  
  •  
The first step in solving an ethical dilemma is to
  •  
  •  
  •  
  •  
Which of the following techniques are not used by accountants to interpret and report financial information?
  •  
  •  
  •  
  •  
Which of the following is not an advantage of the corporate form of business organization?
  •  
  •  
  •  
  •  
Which of the following would not be considered internal users of accounting data for a company?
  •  
  •  
  •  
  •  
The final step in solving an ethical dilemma is to
  •  
  •  
  •  
  •  
Which of the following would not be considered an external user of accounting data for the GHI Company?
  •  
  •  
  •  
  •  
All of the following statements are correct except
  •  
  •  
  •  
  •  
Martin Corporation purchased land in 2007 for $290,000. In 2013, it purchased a nearly identical parcel of land for $460,000. In its 2013 balance sheet, Martin valued these two parcels of land at a combined value of $920,000. By reporting the land in this manner, Martin Corp. has violated the
  •  
  •  
  •  
  •  
John and Sam met at law school and decide to start a small law practice after graduation. They agree to split revenues and expenses evenly. The most common form of business organization for a business such as this would be a
  •  
  •  
  •  
  •  
Ted Leo is the proprietor (owner) of Ted's, a retailer of golf apparel. When recording the financial transactions of Ted's, Ted does not record an entry for a car he purchased for personal use. Ted took out a personal loan to pay for the car. What accounting concept guides Ted's behavior in this situation?
  •  
  •  
  •  
  •  
A small neighborhood barber shop that is operated by its owner would likely be organized as a
  •  
  •  
  •  
  •  
The use of computers in recording business events
  •  
  •  
  •  
  •  
Ethics are the standards of conduct by which one's actions are judged as
  •  
  •  
  •  
  •  
Which of the following events cannot be quantified into dollars and cents and recorded as an accounting transaction?
  •  
  •  
  •  
  •  
Owners enjoy limited liability in a
  •  
  •  
  •  
  •  
The process of recording transactions has become more efficient because
  •  
  •  
  •  
  •  
All of the following are steps in analyzing ethics cases in financial reporting except
  •  
  •  
  •  
  •  
Which of the following is an external user of accounting information?
  •  
  •  
  •  
  •  
In order to increase comparability, in recent years, the FASB and IASB have made efforts to reduce the differences between U.S.GAAP and IFRS through a process known as
  •  
  •  
  •  
  •  
Accountants refer to an economic event as a
  •  
  •  
  •  
  •  
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)