Test Bank all Chapters

Financial & Managerial Accounting, 20e Jan Williams, Mark Bettner, Kevin Smith (Test Bank all Chapters)

(Download Link at the end of each Chapter)

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1.

Award: 10.00 points

2.

Award: 10.00 points

Managerial accounting information is designed primarily to assist investors and creditors in deciding how to allocate scarce resources.True False References True / False Difficulty: 1 Easy Learning Objective: 01-01 Discuss accounting as the language of business and the role of accounting information in making economic decisions.Information provided to decision makers in an organization is comprised only of the accounting information generated by the organization’s information system.True False References True / False Difficulty: 1 Easy Learning Objective: 01-02 Discuss the significance of information systems in generating reliable accounting information and understand the five components of internal control.

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 3.

Award: 10.00 points

     4.

Award: 10.00 points

    All internal control systems need to be monitored.True False References True / False Difficulty: 2 Medium Learning Objective: 01-02 Discuss the significance of information systems in generating reliable accounting information and understand the five components of internal control.A data analytics system is the integrated management of core business processes that an organization can use to collect, store, manage, and interpret data across a wide range of business activities.True False References True / False Difficulty: 1 Easy Learning Objective: 01-02 Discuss the significance of information systems in generating reliable accounting information and understand the five components of internal control.

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 5.

Award: 10.00 points

    Management accounting information is oriented toward the future while financial accounting information is historical in nature.True False References

True / False Learning Objective:

01-03 Explain the importance of financial accounting information for external parties— primarily investors and creditors—in terms of the objectives and the characteristics of that information.

Difficulty: 2

Medium

Learning Objective:

01-04 Explain the importance of accounting information for internal parties— primarily management—in terms of the objectives and the characteristics of that information.

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