Test Bank For Cornerstones of Financial Accounting - 4th - 2018 All Chapters - 9781337690881.pdf

DOWNLOAD THE Test Bank for Financial Accounting 15th Edition Warren
p p p p p p p p p



Chapter 2 - Analyzing Transactions
p p p p



Truep/pFalse

1. Accountspareprecordspofpincreasespandpdecreasespinpindividualpfinancialpstatementpitems.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
Bloom's:pRememberingpLEARNI
NGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-
01pACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.01p-
pPurpose

ACCT.ACBSP.APC.02p-pGAAP
ACCT.AICPA.FN.03p-
pMeasurementpBUSPROG:pAnalytic




2. Apchartpofpaccountspispaplistingpofpaccountspthatpmakepuppthepjournal.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.01p-pPurpose
ACCT.ACBSP.APC.02p-pGAAP
ACCT.AICPA.FN.03p-
pMeasurementpBUSPROG:pAnalytic




3. Thepchartpofpaccountspshouldpbepthepsamepforpeachpbusiness.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.03p-
pBusinesspFormspACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




©p2018pCengage.pMaypnotpbepscanned,pcopiedporpduplicated,porppostedptopappubliclypaccessiblepwebsite,pinpwholeporpinppart Pagep1
.
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,DOWNLOAD THE Test Bank for Financial Accounting 15th Edition Warren
p p p p p p p p p



Chapter 2 - Analyzing Transactions
p p p p



4. Accountsppayableparepaccountspthatpyoupexpectpwillpbeppaidptopyou.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pOHp-pFN-Measurement
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.04p-
pCashpvs.pAccrualpACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




5. Consumingpgoodspandpservicespinpthepprocesspofpgeneratingprevenuespresultspinpexpenses.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-06-RecordingpTransactions
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.06p-
pRecordingpTransactionspACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




6. Prepaidpexpensesparepanpexamplepofpanpexpense.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-04-Cashpvs.pAccrual
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.04p-
pCashpvs.pAccrualpACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




©p2018pCengage.pMaypnotpbepscanned,pcopiedporpduplicated,porppostedptopappubliclypaccessiblepwebsite,pinpwholeporpinppart Pagep2
.
mynursytest.store

,DOWNLOAD THE Test Bank for Financial Accounting 15th Edition Warren
p p p p p p p p p



Chapter 2 - Analyzing Transactions
p p p p



7. Thepunearnedprevenuepaccountpispanpexamplepofpapliability.
a. True
b. False
ANSWER: True
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-04-Cashpvs.pAccrual
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.04p-
pCashpvs.pAccrualpACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




8. Thepdrawingpaccountpispanpexpense.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-06-RecordingpTransactions
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.06p-
pRecordingpTransactionspACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




9. Accountspinpthepledgerparepusuallypmaintainedpinpalphabeticalporder.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-06-RecordingpTransactions
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.06p-
pRecordingpTransactionspACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




©p2018pCengage.pMaypnotpbepscanned,pcopiedporpduplicated,porppostedptopappubliclypaccessiblepwebsite,pinpwholeporpinppart Pagep3
.
mynursytest.store

, DOWNLOAD THE Test Bank for Financial Accounting 15th Edition Warren
p p p p p p p p p



Chapter 2 - Analyzing Transactions
p p p p



10. Dependingponpthepaccountptitle,ptheprightpsidepofpthepaccountpispreferredptopaspthepcreditpside.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-06-RecordingpTransactions
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.06p-
pRecordingpTransactionspACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




11. Topdeterminepthepbalancepinpanpaccount,palwayspsubtractpcreditspfrompdebits.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-06-RecordingpTransactions
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.06p-
pRecordingpTransactionspACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




12. Anpaccountpinpitspsimplestpformphaspthreeppartsptopit:paptitle,panpincreasepside,pandpapdecreasepside.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
Bloom's:pRemembering
LEARNINGpOBJECTIVES: ACCT.WARD.18.02-01p-p02-01
STATEpSTANDARDS: UnitedpStatesp-pINp-pAPC-06-RecordingpTransactions
ACCREDITINGpSTANDARDS:p ACCT.ACBSP.APC.02p-pGAAP
ACCT.ACBSP.APC.06p-
pRecordingpTransactionspACCT.AICPA.FN.03p-

pMeasurementpBUSPROG:pAnalytic




©p2018pCengage.pMaypnotpbepscanned,pcopiedporpduplicated,porppostedptopappubliclypaccessiblepwebsite,pinpwholeporpinppart Pagep4
.
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