BUSN 1011 Quiz 1 - View Attempt 1 of 1 Title: Started:...

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View Attempt 1 of 1 Title: Test #1-Ch. 1 Started: June 10, 2011 4:42 AM Submitted: June 10, 2011 5:38 AM Time spent: 00:56:06 Total score: 94/100 = 94% Total score adjusted by 0.0 Maximum possible score: 100 1. Chapter 1 1 Managers are most interested in detailed measures of bus performance. Student Response Value Correct Answer 1.True 100% Correct. 2.False Score: 2/2 2. Chapter 1 10 A interior design firm would be an example of a service bu Student Response Value Correct Answer 1.True 100% Correct. 2.False Score: 2/2 3. Chapter 1 11 Accounting clerks generally supervise the work of bookke Student Response Value Correct Answer 1.True
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Student Response Value Correct Answer 2.False 100% Correct. Score: 2/2 4. Chapter 1 12 The controller of a firm oversees the entire accounting pro the principal accounting officer of the company. Student Response Value Correct Answer 1.True 100% Correct. 2.False Score: 2/2 5. Chapter 1 2 Owners are most interested the company's profitability an financial condition. Student Response Value Correct Answer 1.True 100% Correct. 2.False Score: 2/2 6. Chapter 1 3 There are six major steps in the accounting process. Student Response Value Correct Answer 1.True 100% Correct.
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Student Response Value Correct Answer 2.False Score: 2/2 7. Chapter 1 4 If computers are used in the recording, classifying, summa reporting steps of the accounting process, the accounting techniques are significantly different than if the steps are p manually. Student Response Value Correct Answer 1.True 2.False 100% Correct. Score: 2/2 8. Chapter 1 5 A discussion memorandum is issued by the FASB after pu on an issue. Student Response Value Correct Answer 1.True 2.False 100% Correct. Score: 2/2 9. Chapter 1 6 The private standard-setting body that establishes GAAP Student Response Value Correct Answer
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Student Response Value Correct Answer 2.False Score: 2/2 10. Chapter 1 7 A stockholder assumes all risks for the business and pers can be taken to pay creditors. Student Response Value Correct Answer 1.True 2.False 100% Correct. Score: 2/2 11. Chapter 1 8 An advantage of a partnership is that the partners are not liable for the debts of the partnership. Student Response Value Correct Answer 1.True 2.False 100% Correct. Score: 2/2 12. Chapter 1 9 A business that makes a product to sell is called a manufa business. Student Response Value Correct Answer 1.True 100% Correct.
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Student Response Value Correct Answer 2.False Score: 2/2 13. Chapter 1—Introduction to Accounting Question CO #14 A(n) ____________________ is owned by two or more pe assume the risks for the business and whose assets may pay creditors. Student Response Value 1. partnership 100% Equals partnership Score: 2/2 14. Chapter 1—Introduction to
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This note was uploaded on 03/01/2012 for the course ACCOUTNING 550 taught by Professor Abner during the Spring '11 term at DeVry Houston.

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BUSN 1011 Quiz 1 - View Attempt 1 of 1 Title: Started:...

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