Test Bank For Accounting Information for Business Decisions 2nd Edition By Billie Cunningham
ISBN-13: 9780170253703 (978-0-17-025370-3) ISBN-10:0170253708 (0-17-025370-8)
Chapter 1 – Introduction to Business Accounting and the Role of Professional Skills
COMPLETION
- Information explosion, evolving forms of businesses, more complex business activities, increased regulations, globalisation and technological advances are all factors affecting the ______________of the business environment.
ANS: complexity
PTS: 1 DIF: Difficult TOP: The changing business environment
- An __________ ___________ is a means by which accounting information about a business’ activity is identified, measured, recorded and summarised so it can be communicated in an accounting report.
ANS: accounting system
PTS: 1 DIF: Moderate TOP: The accounting system
- A business financial statement is meant to convey information about the business to ________ and __________ users in order to help them make decisions about the business.
ANS: internal; external
PTS: 1 DIF: Difficult TOP: Ethics in business and accounting
- __________ ___________ is a system in which individuals own businesses that produce and sell services and/or goods for a profit.
ANS: Private enterprise
PTS: 1 DIF: Moderate TOP: Private enterprise
- _________ ___________ perform services or activities that benefit individuals or business customers.
ANS: Service businesses
PTS: 1 DIF: Easy Top: Service businesses
- ____________________ businesses purchase goods for resale to their customers.
ANS: Merchandising
PTS: 1 DIF: Easy TOP: Merchandising business
- ____________________ are merchandising businesses that sell their products directly to the final customer or consumers.
ANS: Retailers
PTS: 1 DIF: Easy TOP: Merchandising business
- ____________________ are merchandising businesses that sell their goods to retailers or other commercial users.
ANS: Wholesalers
PTS: 1 DIF: Easy TOP: Merchandising business
Reviews
There are no reviews yet.