False True ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.01-01 - 01-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.AICPA.BB.03 - Legal ACCT.AICPA.FN.03 - Measurement BUSPROG: Ethics A business is an organization in which basic resources or inputs, like materials and labor, are assembled and processed to provide outputs in the form of goods or services to customers. True False True ANSWER: Easy DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.01-01 - 01-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.03 - Business Forms ACCREDITING STANDARDS: ACCT.AICPA.BB.01 - Industry ACCT.AICPA.BB.06 - Resource Management BUSPROG: Analytic Two factors that typically lead to ethical violations are relevance and timeliness of accounting information. True False False ANSWER: Easy DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.01-01 - 01-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.AICPA.BB.01 - Industry ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic An example of a general-purpose financial statement would be a report about projected price increases related to transportation costs. True False False ANSWER: Easy DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.01-01 - 01-01 LEARNING OBJECTIVES:
False ANSWER: True DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.01-01 - 01-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.AICPA.BB.03 - Legal ACCT.AICPA.FN.03 - Measurement BUSPROG: Ethics A business is an organization in which basic resources or inputs, like materials and labor, are assembled and processed to provide outputs in the form of goods or services to customers. True False ANSWER: True DIFFICULTY: Easy Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.01-01 - 01-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business Forms ACCT.AICPA.BB.01 - Industry ACCT.AICPA.BB.06 - Resource Management BUSPROG: Analytic Two factors that typically lead to ethical violations are relevance and timeliness of accounting information. True False ANSWER: False DIFFICULTY: Easy Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.01-01 - 01-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.AICPA.BB.01 - Industry ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic An example of a general-purpose financial statement would be a report about projected price increases related to transportation costs. True False ANSWER: False DIFFICULTY: Easy Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.01-01 - 01-01
Accouting-26th-Edition-Test-Bank.docx