Archives: Quiz
Chapter 4 2 It declared and paid common stock dividends
Income Statement and Related Information 4 – 21 90. In 2014, Esther Corporation reported net income of $600,000. It declared and paid preferred stock dividends of $150,000 and common stock dividends of $60,000. During 2014, Esther had a weighted average […]
Chapter 10 Clearly Indicate The Fund Which The Entry
ch10.doc Page 1 Chapter 10 Fiduciary Funds and Permanent Funds TRUE/FALSE (CHAPTER 10) 1. Per GASB Statement No. 34, permanent funds are classified as fiduciary funds. 2. In accounting for permanent funds only the income can be spent; the principal […]
Chapter 11 Which of the following could be considered a component unit
Chapter 11 – Financial Reporting Issues MULTIPLE CHOICE 1. The GASB Statement No. 34 reporting model includes, but is not limited to which of the following reports? a. Government-wide financial statements b. a management discussion and analysis section c. funds […]
Chapter 4 1 Changes Estimates Are Considered Errors Extraordinary Items
CHAPTER 4 INCOME STATEMENT AND RELATED INFORMATION IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Answer No. Description MULTIPLE CHOICE—Conceptual Answer No. Description c 21. Elements of the income statement. d 22. Usefulness of the income statement. […]
Chapter 9 Which The Following Statements About Accounting For
Ch 9 Test Bank-4e doc Page 1 Chapter 9 Business-Type Activities TRUE/FALSE (CHAPTER 9) 1. In both the fund statements and the government-wide statements, business-type activities and internal service funds are on a full accrual basis, and their measurement focus […]
Chapter 10 There Were No supplies Hand Year Ago The
Chapter 10 — Governmental Accounting: The General Fund and the Account Groups (including Other Governmental Funds, Proprietary Funds, and Fiduciary Funds) MULTIPLE CHOICE 1. What is the cornerstone of external financial reporting for governmental units and not-for-profit organizations? a. show […]
Chapter 3 3 Prepare The Entry Record Cash Interest Received
The Accounting Information System 3 – 35 *Ex. 3-131—Accrual basis. The records for Kiley Company showed the following for 2014: Jan. 1 Dec. 31 Unearned revenue $1,100 $2,160 Accrued revenue 1,260 920 Cash collected during the year for revenue, $65,000 […]
Chapter 8 The City Successfully Issues 20 Million Long term
ch08.doc Page 1 Chapter 8 Long-term Obligations TRUE/FALSE (CHAPTER 8) 1. Unlike individuals and businesses, governments cannot seek protection under the Federal Bankruptcy Code. 2. General obligation debt is the obligation of the government at large and is thereby backed […]
Appendix C First Revalues The Entire Controlling Interest Held b
Special Appendix – Analysis of FASB Exposure Drafts for Business Combinations by Impact on Chapters 1–5 MULTIPLE CHOICE 1. Publics Company acquired the net assets of Citizen Company during 2005. The purchase price was $800,000. On the date of the […]
Chapter 3 2 The following balances have been excerpted from Olsen’s balance
The Accounting Information System 3 – 21 98. Big-Mouth Frog Corporation had revenues of $300,000, expenses of $200,000, and dividends of $45,000. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings […]
Chapter 7 During The Year The City Spent 12
ch07.doc Page 1 Chapter 7 Long-lived Assets and Investments in Marketable Securities TRUE/FALSE (CHAPTER 7) 1. General capital assets are distinguished from the capital assets of proprietary funds and fiduciary funds. 2. General capital assets are not reported in governmental […]
Chapter 9 Answers Noncash Capital And Loan Balances Cash Assets
Noncash Capital and Loan Balances Cash Assets Liabilities Merz Dechter Flowers Beginning balances……………… $ 25,000 $200,000 $165,000 $ 40,000 $ 30,000 $(10,000) Liquidation expense…………… (20,000) (8,000) (8,000) (4,000) Sale of non-cash assets……… 160,000 (200,000) (16,000) (16,000) (8,000) Payment of liabilities…………….. […]
Chapter 6 The Face Value The New Debt Less
ch06.doc Page 1 Chapter 6 Accounting for Capital Projects and Debt Service TRUE/FALSE (CHAPTER 6) 1. The resources to service all general long-term debt of governments are typically accounted for in debt service funds. 2. When governments establish capital projects […]
Chapter 9 Martel Tusk And Davis Are Partners With
Chapter 9 — Partnerships: Ownership Changes and Liquidations MULTIPLE CHOICE 1. Which of the following results in dissolution of a partnership? a. contribution of additional assets to the partnership by an existing partner b. receipt of a draw by an […]
Chapter 2 2 Relevance And Faithful Representation 3 Comparability And
Test Bank for Intermediate Accounting, Fifteenth Edition 2 – 18 89. The measurement principle includes the a. fair value principle only. b. historical cost principle only. c. revenue recognition principle and expense recognition principle. d. historical cost principle and the […]
Chapter 5 Service Fund For Automobile Usage During The
ch05.doc Page 1 Chapter 5 Recognizing Expenditures in Governmental Funds TRUE/FALSE (CHAPTER 5) 1. Expenditures are generally recognized when resources are acquired; expenses when resources are consumed. 2. Governmental fund liabilities are considered current only when they must be liquidated […]
Chapter 8 Which of the following best describes the use of interest
Chapter 8 — Partnerships: Characteristics, Formation, and Accounting for Activities MULTIPLE CHOICE 1. Which of the following is NOT a characteristic of the proprietary theory that influences accounting for partnerships? a. Partners’ salaries are viewed as a distribution of income […]
Chapter 2 1 Provide Information That Useful Those Making Investing
CHAPTER 2 CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual Answer No. Description MULTIPLE CHOICE—Conceptual Answer No. Description c 21. GAAP defined. d 22. Purpose of conceptual framework. c 23. Conceptual framework. […]
Chapter 4 Should The City Report These Grants Grant
ch04 Page 1 Chapter 4 Recognizing Revenue in Governmental Funds TRUE/FALSE (CHAPTER 4) 1. If an entity elects to focus on all economic resources, then it should adopt a modified accrual basis of accounting. 2. The budgetary measurement focus of […]
Chapter 7 If the functional currency is determined to not be the foreign
Kerry Manufacturing Company Trial Balance Translation December 31, 20X4 Account Balance in Euros Relevant Exchange Rate (Pds/Euros) Balance in Pounds Relevant Exchange Rate ($/Pds) Balance in Dollars Cash 240,000 0.288 69,120 1.64 113,357 Accounts Receivable (net) 2,760,000 0.288 794,880 1.64 […]
Chapter 1 2 Statement Iii The Securities And Exchange Commission
Test Bank for Intermediate Accounting, Fifteenth Edition 1 – 12 61. FASB Technical Bulletins a. are similar to FASB Interpretations in that they establish enforceable standards under the AICPA’s Code of Professional Ethics. b. are issued monthly by the FASB […]
Chapter 3 Capital budgets concentrate on long-lived assets
Granof Test Bank Chapter 3 Page 1 Chapter 3 Issues of Budgeting and Control TRUE/FALSE (CHAPTER 3) 1. Capital budgets focus on plans for the acquisition and construction of fixed assets. 2. The accounting cycle for most governments is two […]
Chapter 7 Labor is acquired locally and paid in pesos
Chapter 7 — Translation of Foreign Financial Statements MULTIPLE CHOICE 1. The functional currency approach adopted by FASB 52 requires: a. separate statements be maintained by the domestic parent company and the foreign branch both in their own currencies b. […]
Chapter 2 Prepare Journal Entries Record Each These Transactions
Granof Test Bank Chapter 2 Page 1 Chapter 2 Fund Accounting TRUE/FALSE (CHAPTER 2) 1. Fund accounting promotes control and accountability over restricted resources. 2. The basis of accounting determines when transactions and events are recognized. 3. If an entity […]
Chapter 6 A U.S. company purchases medical lab equipment from
Chapter 6 — Foreign Currency Transactions MULTIPLE CHOICE 1. The best definition for direct quotes would be “direct quotes measure a. how much foreign currency must be exchanged to receive 1 domestic currency.” b. current or spot rates.” c. how […]
Exam F The Following Calculations Present Depreciation Both Bases
COMPREHENSIVE EXAMINATION F PART 6 (Chapters 22-24) Approximate Problem Topic Time F-I Multiple Choice Questions. 25 min. F-II Statement of Cash Flows. 25 min. F-III Accounting Changes, Error Corrections, and Prior Period Adjustments. 30 min. F-IV * Analysis of Financial […]
Chapter 1 During The Current Year The City Pays
Granof Test Bank Chapter 1 Page 1 Chapter 1 The Government and Not-For-Profit Environment TRUE/FALSE (CHAPTER 1) 1. The main objective of a typical government or not-for-profit entity is to earn a profit. 2. A government’s budget may be backed […]
Chapter 5 Intercompany debt which must be eliminated from consolidated
Trial Balance Eliminations and Consol. Control. Consol. Pope Siegel Adjustments Income Retained Balance Account Titles Company Company Debit Credit Statement NCI Earnings Sheet Interest Receivable 7,500 (B1) 7,500 0 Other Current Assets 157,212 371,000 528,212 Investment in Sub. Company 410,000 […]
Exam E Pinkley Company For Machinery Which Was Carried
COMPREHENSIVE EXAMINATION E PART 5 (Chapters 18-21) Approximate Problem Topic Time E-I Long-Term Contracts. 15 min. E-II Installment Sales Method. 20 min. E-III Deferred Income Taxes. 25 min. E-IV Pensions. 15 min. E-V Leases. 25 min. 100 min. Test Bank […]
Chapter 5 The usual impetus for transactions that create a long-term
Chapter 5 — Intercompany Transactions: Bonds, Cash Flow, EPS, and Unconsolidated Investments MULTIPLE CHOICE 1. The usual impetus for transactions that create a long-term debtor– creditor relationship between members of a consolidated group is due to the: a. subsidiary’s ability […]
Exam D Show the proper disclosures in the stockholders’
COMPREHENSIVE EXAMINATION D PART 4 (Chapters 15-17) Approximate Problem Topic Time D-I Treasury Stock. 20 min. D-II *Cash Dividends. 10 min. D-III Stock Dividends and Stock Splits. 10 min. D-IV Earnings Per Share Concepts. 10 min. D-V Earnings Per Share […]
Chapter 4 Sally Corporation, an 80%-owned subsidiary of Reynolds Company
Trial Balance Eliminations and Consol. Control. Consol. Prange Seaman Adjustments Income Retained Balance Account Titles Company Company Debit Credit Statement NCI Earnings Sheet Inventory, December 31, 20X2 100,000 105,000 (EI) 8,000 197,000 Other Current Assets 207,000 325,000 (IA) 20,000 512,000 […]
Chapter 4 Schiff Company owns 100% of the outstanding common
Chapter 4 — Intercompany Transactions: Merchandise, Plant Assets, and Notes MULTIPLE CHOICE 1. Schiff Company owns 100% of the outstanding common stock of the Viel Company. During 20X1, Schiff sold merchandise to Viel that Viel, in turn, sold to unrelated […]
Chapter 3 The consolidated retained earnings will be the same as
Trial Balance Eliminations and Consol. Control. Consol. Parent Sub. Adjustments Income Retained Balance Account Titles Company Company Debit Credit Statement NCI Earnings Sheet Inventory, December 31 60,000 40,000 100,000 Other Current Assets 118,000 180,000 298,000 Investment in Sub. Company 404,000 […]
Chapter 3 Any remaining excess of cost over book value is attributable
Chapter 3 — Consolidated Statements: Subsequent to Acquisition MULTIPLE CHOICE 1. Pedro purchased 100% of the common stock of the Sanburn Company on January 1, 20X1, for $500,000. On that date, the stockholders’ equity of Sanburn Company was $380,000. On […]
Chapter 2 Current Liabilities Deferred Tax Liability Bonds
Trial Balance Priority Sub. Account Titles Company Company Debit Credit NCI Debit Credit Assets: Current Assets 425,000 500,000 (D) 240,000 1,165,000 Accounts Receivable 530,000 200,000 (D) 40,000 690,000 Inventory 1,600,000 800,000 2,400,000 Investment in Sub. Co. 1,550,000 (EL) 520,000 (D) […]
Chapter 2 What is the amount that will be recorded as Net Income for
Chapter 2 — Consolidated Statements: Date of Acquisition MULTIPLE CHOICE 1. Account Investor Investee Sales $500,000 $300,000 Cost of Goods Sold 230,000 170,000 Gross Profit $270,000 $130,000 Selling & Admin. Expenses 120,000 100,000 Net Income $150,000 $ 30,000 ======== ======== […]
Chapter 1 A tax advantage of business combination can occur when
Chapter 1 — Business Combinations: America’s Most Popular Business Activity, Bringing an End to the Controversy MULTIPLE CHOICE 1. An economic advantage of a business combination includes a. Utilizing duplicative assets. b. Creating separate management teams. c. Coordinated marketing campaigns. […]
FAA what is the value of the forward contract receivable
Fundamentals of Advanced Accounting by Fischer, Taylor & Cheng (HW: FAA) Chapter 1, Problem #6’s answer. Should the answer be aligned like in the PROPOSED section below? YES, this proposed alignment is fine. ORIGINAL PROPOSED FAA Issues List.doc 1 of […]
Psychology Chapter 16 1 You may adapt it periodically throughout your career as new
Chapter 16—Determining Personal Style and Future Theoretical/Practical Integration MULTIPLE CHOICE 1. Developing your own personal approach to interviewing and counseling involves a multiplicity of factors. These include all of the following choices EXCEPT ____. © 2014 Cengage Learning, Inc. a. […]
Psychology Chapter 15 1 Thus, select the one best alternative
Chapter 15—How to Use Microskills and the Five Stages With Theories of Counseling and Psychotherapy MULTIPLE CHOICE 1. Which of the following is NOT one of the major approaches to counseling considered in this text? © 2014 Cengage Learning, Inc. […]
Psychology Chapter 14 1 True About Marys Interview a The Relationship Between
Chapter 14—Skill Integration, Decisional Counseling, Treatment Planning, and Relapse Prevention MULTIPLE CHOICE 1. ____ the microskills into a well-formed interview and ____ the skills to situations beyond the training session or classroom. © 2014 Cengage Learning, Inc. a. Invent; apply […]
Psychology Chapter 13 1 Page 324 top Module Stress And Stressors 26 Which
Chapter 13—Concrete Action Strategies for Client Change: Logical Consequences, Instruction/Psychoeducation, Stress Management, and Therapeutic Lifestyle Changes MULTIPLE CHOICE 1. Logical consequences is a strategy appropriate rarely used by: © 2014 Cengage Learning, Inc. a. decisional counseling. b. cognitive behavioral therapy. […]
Psychology Chapter 12 1 Select Relevant Influencing Strategy Keep Brief And
Chapter 12—Self-Disclosure and Feedback Immediacy and Genuineness in Counseling and Therapy MULTIPLE CHOICE 1. Interviewer self-disclosure can generate client talk and create additional trust, but caution must be observed because _____________. © 2014 Cengage Learning, Inc. a. clients’ rights may […]
Psychology Chapter 11 1 Seek Discover How Deal With Major Life
Chapter 11—Reflection of Meaning and Interpretation/Reframe: Helping Clients Restory Their Lives MULTIPLE CHOICE 1. Choose the BEST method for formulating and responding to the client with an interpretation / reframe. © 2014 Cengage Learning, Inc. a. Match the client’s behavior […]
Psychology Chapter 10 1 Self talk And Internal Dialogue b Cognitive Distortions And
Chapter 10—Empathic Confrontation and the Creative New: Identifying and Challenging Client Conflict MULTIPLE CHOICE 1. “Mobility” is to “immobility” as cultural intentionality is to ____. © 2014 Cengage Learning, Inc. a. stuckness b. impasse c. blocked d. all of the […]
Psychology Appendix N 1 Cpts 132 Number Regions The Are
Appendix C—Counseling, Neuroscience, and Microskills MULTIPLE CHOICE 1. New neural connections can be developed in interviewing and counseling. This is an interactive process in which: © 2014 Cengage Learning, Inc. a. counselors impact the client’s brain. b. clients impact the […]
Psychology Chapter 9 1 Focus The Clientb Focus The Main Theme
Chapter 9—Focusing the Counseling Session: Exploring the Story From Multiple Perspectives MULTIPLE CHOICE 1. According to Ivey, consciousness represents the psychological present. What is the typical length of the psychological present? © 2014 Cengage Learning, Inc. a. 10 to 75 […]
Psychology Chapter 8 1 Which one of the following statements regarding the
Chapter 8—How to Conduct a Five-Stage Counseling Session Using Only Listening Skills MULTIPLE CHOICE 1. The basic listening sequence can be used ____. © 2014 Cengage Learning, Inc. a. widely in many fields of endeavor b. only in interviewing, counseling, […]
Psychology Chapter 7 1 Positive Emotions Make Everything For Clients Negative
Chapter 7—Reflecting Feelings: A Foundation of Client Experience MULTIPLE CHOICE 1. Paraphrasing is concerned with feeding back the key points of what a client has said. Reflection of feeling, in contrast, involves: © 2014 Cengage Learning, Inc. a. observing emotions. […]