Tuesday, April 14, 2015

92 Free Test Bank for Horngrens Accounting The Financial Chapters 10th Edition by Nobles 

Based on the basis of free accounting testing resources, the following free questions of 92 free test bank for Horngrens Accounting The Financial Chapters 10th Edition by Nobles Multiple Choice Questions are orientedly designed to help learners succeed at present. Just a few click-aways you will be provided a truly effective learning experience.
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According to the ________, the acquired assets should be recorded at the amount actually paid rather than at the estimated market value.
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Caleb Brown is the sole owner of a bicycle sales and repair shop from several years. Which of the following business types would limit Caleb's personal liability exposure to the entity's debts?
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Which of the following organizations is responsible for the creation and governance of accounting standards in the United States?
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Which of the following is a characteristic of a corporation?
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30 years ago, Star Grocer Corporation had purchased a building for its grocery store by paying $30,000. Based on inflation estimates, the amount of the building has been adjusted in the accounting records. The building is now reported at $75,000 in the financial statements of Star Grocer. Which of the following concepts or principles of accounting is being violated?
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A debt that a business owes to an outside party is called:
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Which of the following is an external user of a business' financial information?
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________ are professional accountants who serve the general public, not one particular company.
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Managerial accounting provides information to:
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Which of the following users would rely on management accounting information for decision-making purposes?
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Which of the following organizations requires publicly owned companies to be audited by independent accountants (CPAs)?
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David has decided to open an auto-detailing business. He will pick up an automobile from the client, take it to his parents' garage, detail it, and return it to the client. If he does all of the work himself and takes no legal steps to form a special organization, which type of business organization, in effect, has he chosen?
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The economic resources of a business such as furniture, building, and land are its:
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Which of the following statements is true of a sole proprietorship?
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From a legal perspective, a sole proprietorship:
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The field of accounting that focuses on providing information for internal decision makers is:
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Gunnie Inc., located in Texas, records business transactions in dollars and disregards changes in the value of a dollar over time. Which of the following accounting assumptions does this represent?
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Scott's Camera Shop started the year with total assets of $80,000 and total liabilities of $40,000. During the year, the business earned revenues of $120,000 and incurred expenses of $70,000. Scott made no additional capital contributions during the year, but did make withdrawals of $60,000. What is the amount of owner's equity at the end of the year?
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The taxable income of a sole proprietorship is:
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Joshua Thomas is the owner of Nexus Inc., a manufacturer and retailer of computer hardware. Joshua recently bought a new car as a gift for his daughter. Since Joshua paid for the car from the earnings of the business, he recorded it in the books of Nexus as an asset. Which of the following concepts or principles of accounting is Joshua violating?
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The Sarbanes-Oxley Act (SOX) made it a criminal offense to:
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GAAP are the rules that govern accounting in the United States. The acronym GAAP in this statement refers to:
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Which of the following is a characteristic of a limited-liability company (LLC)?
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Which of the following statements best defines financial statements?
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The field of accounting that focuses on providing information for external decision makers is:
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The formation of a partnership firm requires a minimum of:
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As per the ________, the entity will remain in operation for the foreseeable future.
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Which of the following is the correct accounting equation?
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The Public Company Accounting Oversight Board (PCAOB) was created by the:
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Lorna Smith decided to start her own CPA practice as a professional corporation, Smith CPA PC. Her corporation purchased an office building for $35,000 that her real estate agent said was worth $50,000 in the current market. The corporation records the building as a $50,000 asset because Lorna believes that is the real value of the building. Which of the following concepts or principles of accounting is being violated?
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