FIN 311-ACCOUNTING AND TIME VALUE OF MONEY (FIN311)
Exam (elaborations)
FIN 311- ACCOUNTING AND THE TIME VALUE OF MONEY EXAM 2022.
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FIN 311-ACCOUNTING AND TIME VALUE OF MONEY (FIN311)
Institution
University Of South Africa
FIN 311- ACCOUNTING AND THE TIME VALUE OF MONEY EXAM 2022. CHAPTER 6
ACCOUNTING AND THE TIME VALUE OF MONEY
IFRS questions are available at the end of this chapter.
TRUE-FALSE—Conceptual
Answer No. Description
F 1. Time value of money.
T 2. Definition of interest expense.
F 3. Simple inter...
fin 311 accounting and the time value of money exam 2022
fin 311 exam 2022
fin 311 accounting and the time value of money exam
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University of South Africa
FIN 311-ACCOUNTING AND TIME VALUE OF MONEY (FIN311)
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FIN 311 CHAPTER 6
ACCOUNTING AND TIME
VALUE OF MONEY
EXAM 2022
, CHAPTER 6
ACCOUNTING AND THE TIME VALUE OF MONEY
IFRS questions are available at the end of this chapter.
TRUE-FALSE—Conceptual
Answer No. Description
F 1. Time value of money.
T 2. Definition of interest expense.
F 3. Simple interest.
T 4. Compound interest.
T 5. Compound interest.
F 6. Future value of an ordinary annuity.
F 7. Present value of an annuity due.
T 8. Compounding period interest rate.
T 9. Definition of present value.
T 10. Future value of a single sum.
F 11. Determining present value.
F 12. Present value of a single sum.
F 13. Annuity due and interest.
T 14. Annuity due and ordinary annuity.
T 15. Annuity due and ordinary annuity.
T 16. Number of compounding periods.
F 17. Future value of an annuity due factor.
T 18. Present value of an ordinary annuity.
F 19. Future value of a deferred annuity.
T 20. Expected cash flow approach.
MULTIPLE CHOICE—Conceptual
Answer No. Description
a 21. Appropriate use of an annuity due table.
d 22. Time value of money.
b 23. Present value situations.
a 24. Definition of interest.
c 25. Interest variables.
d 26. Identification of compounding approach.
b 27. Future value factor.
b 28. Understanding compound interest tables.
a 29. Identification of correct compound interest table.
d 30. Identification of correct compound interest table.
c 31. Identification of correct compound interest table.
c 32. Identification of correct compound interest table.
b 33. Identification of correct compound interest table.
c 34. Identification of present value of 1 table.
S
c 35. Identification of correct compound interest table.
S
a 36. Identification of correct compound interest table.
,6-2 Test Bank for Intermediate Accounting, Fifteenth Edition
MULTIPLE CHOICE—Conceptual (cont.)
Answer No. Description
S
a 37. Present value of an annuity due table.
P
c 38. Definition of an annuity due.
P
a 39. Identification of compound interest concept.
P
d 40. Identification of compound interest concept.
d 41. Identification of number of compounding periods.
a 42. Adjust the interest rate for time periods.
d 43. Definition of present value.
P
c 44. Compound interest concepts.
a 45. Difference between ordinary annuity and annuity due.
c 46. Future value of 1 and present value of 1 relationship.
b 47. Identify future value of 1 concept.
d 48. Determine best bonus option
d 49. Identify future value of an ordinary annuity
b 50. Identify future value of an ordinary annuity
P
c 51. Future value of an annuity due factor.
c 52. Determine the timing of rents of an annuity due.
b 53. Factors of an ordinary annuity and an annuity due.
c 54. Determine present value of an ordinary annuity.
b 55. Identification of a future value of an ordinary annuity of 1.
b 56. Present value of an ordinary annuity and an annuity due.
b 57. Difference between an ordinary annuity and an annuity due.
b 58. Present value of ordinary annuity and present value of annuity due
relationship
c 59. Identify present value of ordinary annuity concept.
c 60. Determine least costly option.
d 61. Definition of deferred annuities.
P
These questions also appear in the Problem-Solving Survival Guide.
S
These questions also appear in the Study Guide.
MULTIPLE CHOICE—Computational
Answer No. Description
a 62. Calculate the future value of 1.
d 63. Calculate amount of interest paid.
d 64. Interest compounded quarterly.
c 65. Calculate present value of a future amount.
b 66. Calculate a future value.
a 67. Calculate a future value of an annuity due.
b 68. Calculate a future value.
c 69. Calculate a future value.
c 70. Calculate present value of a future amount.
d 71. Calculate present value of a future amount.
a 72. Calculate present value of an annuity due.
d 73. Calculate the future value of 1.
b 74. Present value of a single sum.
c 75. Present value of a single sum, unknown number of periods.
c 76. Future value of a single sum.
, Accounting and the Time Value of Money 6-3
MULTIPLE CHOICE—Computational (cont.)
Answer No. Description
b 77. Present value of a single sum.
b 78. Present value of a single sum, unknown number of periods.
c 79. Future value of a single sum.
d 80. Calculate the present value of 1.
c 81. Calculate the future value of 1.
a 82. Calculate the present value of 1.
c 83. Calculate interest rate.
a 84. Calculate number of years.
b 85. Calculate the future value of 1.
c 86. Calculate the present value of 1.
c 87. Calculate the present value of 1.
d 88. Calculate the present value of 1 and present value of an ordinary annuity.
d 89. Calculate number of years.
b 90. Calculate the amount of annual deposit.
d 91. Calculate the amount of annual deposit.
d 92. Calculate the amount of annual deposit.
a 93. Present value of an ordinary annuity.
b 94. Present value of an annuity due.
c 95. Future value of an ordinary annuity.
d 96. Future value of an annuity due.
a 97. Present value of an ordinary annuity.
b 98. Present value of an annuity due.
c 99. Future value of an ordinary annuity.
d 100. Future value of an annuity due.
a 101. Calculate future value of an annuity due.
a 102. Calculate future value of an ordinary annuity.
d 103. Calculate future value of an annuity due.
c 104. Calculate annual deposit for annuity due.
d 105. Calculate cost of machine purchased on installment.
a 106. Calculate present value of an ordinary annuity.
b 107. Calculate present value of an annuity due.
b 108. Calculate cost of machine purchased on installment.
c 109. Calculate cost of machine purchased on installment.
a 110. Calculate the annual rents of leased equipment.
b 111. Calculate present value of an investment in equipment.
b 112. Calculate proceeds from issuance of bonds.
b 113. Calculate proceeds from issuance of bonds.
c 114. Calculate present value of an ordinary annuity.
d 115. Calculate interest rate.
a 116. Calculate present value of an annuity due.
b 117. Calculate effective interest rate.
d 118. Calculate present value of an ordinary annuity.
b 119. Calculate present value of an annuity due.
b 120. Calculate annual interest rate.
c 121. Calculate interest rate.
b 122. Calculate annual lease payment.
a 123. Calculate selling price of bonds.
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