Test Bank for Intermediate accounting 9th edition by J. David Spiceland and Mark W. Nelson Chapters 1-21 Covered

Test Bank
Intermediate accounting 9th edition
by J. David Spiceland and Mark W. Nelson
Chapters 1-21 Covered

,TABLE OF CONTENT v v




SECTION 1 v




The Role of Accounting as an Information System
v v v v v v v




1. Environment and Theoretical Structure of Financial Accounting
v v v v v v v




2 Review of the Accounting Process
v v v v v




3. The Balance Sheet and Financial Disclosures
v v v v v v




4. The Income Statement, Comprehensive Income, and the Statement of Cash Flows
v v v v v v v v v v v




5. Revenue Recognition
v v




6. Time Value of Money Concepts
v v v v v




SECTION 2 v




Assets

7. Cash and Receivables
v v v




8. Inventories: Measurement
v v




9. Inventories: Additional Issues
v v v




10. Property, Plant, and Equipment and Intangible Assets: Acquisition
v v v v v v v v




11. Property, Plant, and Equipment and Intangible Assets: Utilization and Disposition
v v v v v v v v v v




12. Investments
v




SECTION 3 v




Liabilities and Shareholders' Equity
v v v




13. Current Liabilities and Contingencies
v v v v




14. Bonds and Long-Term Notes
v v v v




15. Leases
v

,16. Accounting for Income Taxes
v v v v




17. Pensions and Other Postretirement Benefits
v v v v v




18. Shareholders’ Equity
v v




SECTION 4 v




Additional Financial Reporting Issues
v v v




19. Share-Based Compensation and Earnings Per Share
v v v v v v




20. Accounting Changes and Error Corrections
v v v v v




21. The Statement of Cash Flows Revisited
v v v v v v

, True/FalsevQuestions

1. Thevprimaryvfunctionvofvfinancialvaccountingvisvtovprovidevrelevantvfinancialvinformationvtovp
artiesvexternalvtovbusinessventerprises.

Answer:vTrue
LevelvofvLearning:v1vEasyvLearnin
gvObjective:v01-01
TopicvArea:vEnvironmentvofvfinancialvaccountingvandvreportingvBl
ooms:vRemember
AACSB:vReflectivevthinkingvAICP
A:vBBvCriticalvThinking


2. Accrualvaccountingvattemptsvtovmeasurevrevenuesvandvexpensesvthatvoccurredvdurin
gvaccountingvperiodsvsovtheyvequalvnetvoperatingvcashvflow.

Answer:vFalse
LevelvofvLearning:v1vEasyvLearnin
gvObjective:v01-02
TopicvArea:vCashvversusvaccrualvaccountingvBloom
s:vUnderstand
AACSB:vReflectivevthinkingvAICP
A:vFNvMeasurement


3. ThevFASBvisvcurrentlyvthevpublic-
sectorvorganizationvresponsiblevforvsettingvaccountingvstandardsvinvthevUnitedvStates.

Answer:vFalse
LevelvofvLearning:v1vEasyvLearnin
gvObjective:v01-03
TopicvArea:vDevelopmentvofvaccountingvandvreportingvstandardsv
Blooms:vRemember
AACSB:vReflectivevthinkingvAICP
A:vBBvLegal


4. ThevFASB’svduevprocessvinvitesvvariousvinterestedvpartiesvtovindicatevtheirvopinionsvaboutv
whethervfinancialvaccountingvstandardsvshouldvbevchanged.

Answer:vTrue
LevelvofvLearning:v1vEasyvLearnin
gvObjective:v01-04
TopicvArea:vGAAP―Standard-
settingvprocessvBlooms:vRemember
AACSB:vReflectivevthinkingvAICP