Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 1, Problem 11MC
Which of the following is not considered a stakeholder of an organization?
A. creditors
B. lenders
C. employees
D. community residents
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Which of the following is not considered a stakeholder of an organization?
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Which of the following is not an external user of a business’s financial information?
a. Taxing authorities
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d. Investors
Chapter 1 Solutions
Principles of Accounting Volume 1
Ch. 1 - Accounting is sometimes called the language of...Ch. 1 - Financial accounting information ________. A....Ch. 1 - External users of financial accounting information...Ch. 1 - Which of the following groups would have access to...Ch. 1 - All of the following are examples of managerial...Ch. 1 - Which of the following is not true? A....Ch. 1 - The primary purpose of what type of business is to...Ch. 1 - Which of the following is not an example of a...Ch. 1 - A governmental agency can best be described by...Ch. 1 - Which of the following is likely not a type of...
Ch. 1 - Which of the following is not considered a...Ch. 1 - Stockholders can best be defined as which of the...Ch. 1 - Which of the following sell stock on an organized...Ch. 1 - All of the following are sustainable methods...Ch. 1 - The accounting information of a privately held...Ch. 1 - Which of the following skills/attributes is not a...Ch. 1 - Which of the following is typically required for...Ch. 1 - Typical accounting tasks include all of the...Ch. 1 - What type of organization primarily offers tax...Ch. 1 - Most states require 150 semester hours of college...Ch. 1 - Research your top five career choices. Identify...Ch. 1 - Using the same top five career choices, identify...Ch. 1 - Think about a recent purchase you made. Describe...Ch. 1 - Computerized accounting systems help businesses...Ch. 1 - The following information was taken from the...Ch. 1 - The following chart shows the price of Netflix...Ch. 1 - Use the internet to research one for-profit, one...Ch. 1 - Use the internet to research one manufacturing,...Ch. 1 - Assume you are considering opening a retail...Ch. 1 - Uber and Lyft are two popular ride-sharing...Ch. 1 - How would you categorize or classify a company...Ch. 1 - Charity Navigator...Ch. 1 - Use the internet to visit the Securities and...Ch. 1 - Imagine that you have just been elected president...Ch. 1 - According to a company press release, on January...Ch. 1 - The Dow Jones Industrial Average (DJIA) is often...Ch. 1 - Many professional certifications now have...Ch. 1 - The Certified Public Accountant (CPA) exam is a...
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Similar questions
That a business may only report activities on financial statements that are specifically related to company operations, not those activities that affect the owner personally, is known as which of the following? A. separate entity concept B. monetary measurement concept C. going concern assumption D. time period assumption
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Which of the following best defines stakeholders? A. investors and lenders B. environmental groups C. anyone directly or indirectly affected by the organization D. groups or individuals financially impacted by the organization
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External users of financial accounting information include all of the following except ________. A. lenders such as bankers B. governmental agencies such as the IRS C. employees of a business D. potential investors
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Each of the following situations relates to a different company. A. For each of these independent situations, find the missing amounts. B. How would stakeholders view the financial performance of each company? Explain.
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People affected by decisions made by a company, including Investors, creditors, employees, managers, regulators, customers, suppliers, and laypeople, are known as ________. A. quantitative factors B. qualitative factors C. stakeholders D. stockholders
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The accounting information of a privately held company is generally available to all of the following except for ________. A. governmental agencies B. investors C. creditors and lenders D. competitors
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According to which concept the owners are considered to be different from the business[A] Business entity concept[B] Going concern concept[C] Money measurement concept[D] Accounting period concept
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Which of the following statements is true regarding business plans:
A.
A corporation is the only legal form of business ownership that should develop a business plan.
B.
The operating plan details information regarding the business's services.
C.
Owners often use business plans as a tool to help them achieve their objectives.
D.
Lending institutions do not usually require loan applicants to submit a business plan.
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MCQS:
External reporting is the result of?
(a) Financial accounting
(b) Management accounting
(c) Cost accounting
(d) Social accounting
Which of the following business entity is collectively known as firm?
(a) Sole trader-ship
(b) Partnership
(c) Co-operative society
(d) Company
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External users of fi nancial accounting information includeall of the following except:a. Investors. c. Line managers.b. Labor unions. d. General public.
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a. define financial accounting and explain its role in business
b. how might accounting information differ at different types of businesses (public vs. private companies vs. nonprofits)
c. how do GAAP impact how we present financial information
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What significant information should each of the following be aware of in the financial statements and why?
A.shareholders
B. Prospective investors
C. Government
D. Customer/clients
E. Creditors
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