TEST BANK Rachel Bexon College Accounting A Practical Approach Fourteenth Canadian Edition Jeffrey Slater Debra Good (Complete And Verified Study material) (617pages) LEARNEXAMS

College Accounting, 14Ce (Slater/Good) Chapter 1 Accounting Concepts and Procedures: An Introduction 1.1 Defining and listing the functions of accounting. 1) Which of the following professional accounting designations has been replaced by "CPA"? A) CA B) CMA C) CGA D) All of the above Answer: D Diff: 1 Type: MC Objective: 1-1 2) The type of business organization that can continue indefinitely is known as a A) sole proprietorship. B) partnership. C) corporation. D) None of the above. Answer: C Diff: 1 Type: MC Objective: 1-1 3) This type of business organization is subject to income tax. A) sole proprietorship. B) partnership. C) corporation. D) All of the above. Answer: C Diff: 1 Type: MC Objective: 1-1 4) Putting the information into the accounting system would be called A) analyzing. B) recording. C) classifying. D) summarizing. Answer: B Diff: 2 Type: MC Objective: 1-1