ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Which of the following groups are considered to be of accounting information? internal users employees and customers customers and vendors employees and managers government entities and banks c ANSWER: Easy DIFFICULTY: ACCT.WARD.16.01-01 - 01-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.01 - Purpose ACCREDITING STANDARDS: ACCT.AICPA.BB.01 - Industry ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic The following are examples of external users of accounting information except government entities customers creditors managers d ANSWER: Easy DIFFICULTY: Remembering Bloom’s: ACCT.WARD.16.01-01 - 01-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.01 - Purpose ACCREDITING STANDARDS: ACCT.AICPA.BB.01 - Industry ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Which of the following is the best description of role in business? accounting’s Accounting provides stockholders with information regarding the market value of the company’s stocks. Accounting provides information to managers to operate the business and to other users to make decisions regarding the economic condition of the company. Accounting helps in decreasing the credit risk of the company. Accounting is not responsible for providing any form of information to users. That is the role of the Information Systems Department. b ANSWER: Moderate DIFFICULTY: Remembering Bloom’s: ACCT.WARD.16.01-01 - 01-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.01 - Purpose ACCREDITING STANDARDS: ACCT.AICPA.BB.01 - Industry
ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Which of the following groups are considered to be internal users of accounting information? employees and customers customers and vendors employees and managers government entities and banks ANSWER: c DIFFICULTY: Easy LEARNING OBJECTIVES: ACCT.WARD.16.01-01 - 01-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose ACCT.AICPA.BB.01 - Industry ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic The following are examples of external users of accounting information except government entities customers creditors managers ANSWER: d DIFFICULTY: Easy Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.01-01 - 01-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose ACCT.AICPA.BB.01 - Industry ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Which of the following is the best description of accounting’s role in business? Accounting provides stockholders with information regarding the market value of the company’s stocks. Accounting provides information to managers to operate the business and to other users to make decisions regarding the economic condition of the company. Accounting helps in decreasing the credit risk of the company. Accounting is not responsible for providing any form of information to users. That is the role of the Information Systems Department. ANSWER: b DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.01-01 - 01-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose ACCT.AICPA.BB.01 - Industry
Accouting-26th-Edition-Test-Bank.docx