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Chapter 01 - Introduction to Accounting and Business
from Test bank for financial and managerial accounting 15th edition carl warren jefferson p jones william
ANSWER: c a. Delta Air Lines, Marriott, Gap b. Gap, Amazon.com, Delta Air Lines c. GameStop, Sony, Dell d. GameStop, Best Buy, Gap
57. Which of the following groups of companies are all examples of a retail business?
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ANSWER: d a. employees and customers b. customers and vendors c. employees and managers d. government entities and banks
58. Which of the following groups are considered to be internal users of accounting information?
ANSWER: c
59. The following are examples of external users of accounting information except a. government entities b. customers c. creditors d. managers
ANSWER: d a. Accounting provides stockholders with information regarding the market value of the company’s stocks. b. Accounting provides information to managers to operate the business and to other users to make decisions regarding the economic condition of the company. c. Accounting helps in decreasing the credit risk of the company. d. Accounting is not responsible for providing any form of information to users. That is the role of the Information Systems Department.
60. Which of the following is the best description of accounting’s role in business?
ANSWER: b
61. Managerial accountants would be responsible for providing information regarding a. tax reports to government agencies b. profit reports to stockholders and management c. expansion of a product line report to management d. consumer reports to customers
ANSWER: c a. CIA b. CMA c. CISA d. IRS
62. Which of the following is not a certification for accountants?
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