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ACC 280 Final Exam (10th Set) 33 Questions

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True/False Questions


1. Accounting information is used only by external users with a financial interest in a business enterprise.
A.) True
B.) False
 

2. The dividends account is a subdivision of the returned earnings account and appears as an expense on the income statement.
A.) True
B.) False
 

3. Information is relevant if it provides a basis for predicting future earnings.
A.) True

B.) False
 

4. The safeguarding of assets is an objective of a company's system of internal control.
A.) True

B.) False
 

5. The ledger is merely a bookkeeping device and therefore does not provide much useful data for management.
A.) True
B.) Fa

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[Solved] ACC 280 Final Exam (10th Set) 33 Questions

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True/False Questions 1. Accounting information is used only by external users with a financial interest in a business enterprise. A.) True B.) False 2. The ...
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