Full Test Bank For Intermediate Accounting, 11th Edition by Donald E. Kieso All chapters fully covered, isbn:9780471426394

Full Test Bank For
Intermediate Accounting, 11th Edition
by Donald E. Kieso
All chapters fully covered




Versionm1 1

,Answer Key m




Test name: chapter 1
m m m m




1)
TERM PHRASE
Termmnumberm
thatmmatches
m themphrase.


1. Predictivemvalue Informationmismusefulmin 1
projectingmcashmflows.
2. Relevance Pertinentmtomthemdecisionmat 2
hand.
3. Distributionmto Informationmismavailablemprior 5
m owners tomthemdecision.
4. Confirmatory Decreaseminmequitymduemto 3
m value transfersmtomowners.
5. Timeliness Informationmconfirms 4
expectations.
2)
TERM PHRASE
Termmnumberm
thatmmatches
m themphrase.


1. Gain Alongmwithmrelevance,ma 5
fundamentalmdecision-
specificm quality.
2. Materiality Resultsmifmanmassetmismsoldmfor 1
moremthanmbookmvalue.
3. Completeness Containsmallminformation 3
necessarymformfaithfulm representat
ion.
4. Comprehensive Themchangeminmequitymfrom 4
m income nonownermtransactions.
Versionm1 2

, 5. Faithfulm re Concernsmthemdecision-making 2
presentation impactmofmbothmthemamountmandm na
turemofmanmitem.
3)
TERM PHRASE
Termmnumberm
thatmmatches
m themphrase.


1. Neutrality Importantminmanalysismbetween 2
firms.
2. Comparability Accountingminformationmshould 1
bemunbiased.
3. Consistency Themdecisionmtomincludeman 5
amountminmthemfinancialm statement
s.
4. Cost-effectiveness Applyingmthemsamemaccounting 3
practicesmovermtime.
5. Recognition Considersmthemvaluemofmusing 4
informationmrelativemtomcostmofm pr
ovidingmit.
4)
TERM PHRASE
Termmnumberm
thatmmatches
m themphrase.


1. Monetarymunit Impliesmconsensusmamong 2
m assumption differentmobservers.
2. Verifiability Assumesmallmtransactionsmcanmbe 3
identifiedmwithmamparticularm entit
y.
3. Economicmentity Assumesmanmentitymwillmcontinue 4
m assumption tomoperatemindefinitely.
4. Goingmconcern Requiresmreportingmthe 5
m assumption financialmlifemofmanmentityminm discretemt
imemframes.
5. Periodicity Ignoresmthempossibilitymof 1
m assumption inflation.
5)
TERM PHRASE Termmnumber
thatmmatches


Versionm1 3

, themphrase.
1.mHistorical cost Basismofmmeasurementmformfixed 1




Versionm1 4