Test Bank Survey of Accounting 8th Edition Carl Warren

Test Bank Survey of Accounting 8th Edition Carl Warren

1. The basic elements of a financial accounting system include a framework for preparing financial statements.

a. True

b. Fals
e


True
ANSWER:
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SACC.WARR.18.2-1 - LO: 02.01
NATIONAL STANDARDS: United States - BUSPROG: Analytic
STATE STANDARDS: United States - DISC: - ACBSP: APC-01 - Purpose
United States - AK - DISC: AICPA: FN-
Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/19/2016 9:45 AM
DATE MODIFIED: 7/19/2016 9:45 AM
QUESTION ID: JFND-GO3A-EW4R-GQNB


GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
QUESTION GLOBAL ID: KC5R-CF1U-NA31-GHSU-OATA-8RSU-OA3Z-GOSU-QQMR-GCSU-1ATU-CO5G-NA3U-E7JI-YT4D-JFNN-4OTI-GO4W-NQ

,2. The accounting equation is expressed as follows: Assets = Liabilities + Stockholders' Equity.

a. True

b. Fals
e


True
ANSWER:
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SACC.WARR.18.2-1 - LO: 02.01
NATIONAL STANDARDS: United States - BUSPROG: Analytic
STATE STANDARDS: United States - DISC: - ACBSP: APC-06 - Recording
Transactions
United States - AK - DISC: AICPA: FN-Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/19/2016 9:45 AM
DATE MODIFIED: 7/19/2016 9:45 AM
QUESTION ID: JFND-GO3A-EW4R-GQB3


GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
QUESTION GLOBAL ID: CE5U-NATI-GBTD-OCB1-CRSU-EATI-8RSS-RP3T-GOSU-QA33-GHSS-G3UR-GRHU-CA3Z-E7JI-YT4D-JFNN-4OTI-GO4W

,3. Any given transaction must affect at least two different parts of the accounting equation.

a. True

b. Fals
e


False
ANSWER:
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SACC.WARR.18.2-1 - LO: 02.01
NATIONAL STANDARDS: United States - BUSPROG: Analytic
STATE STANDARDS: United States - DISC: - ACBSP: APC-06 - Recording
Transactions
United States - AK - DISC: AICPA: FN-Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/19/2016 9:45 AM
DATE MODIFIED: 7/19/2016 9:45 AM
QUESTION ID: JFND-GO3A-EW4R-GQBA


GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
QUESTION GLOBAL ID: CCT3-GA5G-EPJW-CASU-GQJU-CESU-YAMR-GOSU-OQDR-GOSS-NCBT-8YAD-1C5D-E7JI-YT4D-JFNN-4OTI-GO4W-NQ

, 4. The accounting equation can be expressed as: Assets − Liabilities = Revenues.

a. True

b. Fals
e


False
ANSWER:
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: SACC.WARR.18.2-1 - LO: 02.01
NATIONAL STANDARDS: United States - BUSPROG: Analytic
STATE STANDARDS: United States - DISC: - ACBSP: APC-06 - Recording
Transactions
United States - AK - DISC: AICPA: FN-Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/19/2016 9:45 AM
DATE MODIFIED: 11/2/2016 4:53 AM
QUESTION ID: JFND-GO3A-EW4R-GQNG


GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
QUESTION GLOBAL ID: 8RAU-OATZ-GTTU-GPUG-CRSU-NCDN-8RSS-CPTA-GOSU-13TU-CWSU-YPTS-CWHU-EPUD-E7JI-YT4D-JFNN-4OTI-GO