1. Introduction to Accounting

Which of the following is NOT a type of permanent life insurance?

Which of the following best describes the primary focus of financial accounting as compared to managerial accounting?

Which of the following is a primary benefit of having a cosigner when taking out a loan?

Which of the following is NOT a type of inventory commonly recognized in accounting?

Tom is considering two types of accounting for his new business: financial accounting and managerial accounting. If Tom wants to prepare reports primarily for external stakeholders such as investors and creditors, which type of accounting should he use?

By holding a portfolio of more than 30 stocks, this portfolio can have:

Which of the following is considered a discipline within the accounting profession?

Which of the following terms refers to a list of accounts used by a business?

Which of the following rights does a stockholder NOT have?

Which of the following statements exemplifies the entity theory of partnership taxation?

The tax based on the profits (earnings) of a business is known as:

Which of the following groups is considered to be internal users of accounting information?

Which type of accounting system reports on various segments or business units of a company?

Which of the following is a reason that corporations are able to raise large amounts of money compared to other types of business organizations?

Credit card companies make the most profit from which of the following sources?