100% tevredenheidsgarantie Direct beschikbaar na je betaling Lees online óf als PDF Geen vaste maandelijkse kosten
logo-home
Eerder door jou gezocht
Eerder door jou gezocht
logo
TEST BANK Intermediate Accounting, 18th Edition by Kieso, Warfield Chapter 1 - 23 Complete $17.99
In winkelwagen
Snel navigeren naar
Voorbeeld
  2.  
  3. West Virgina University
  4.  
  5. NURSING456 (BIO56)

Tentamen (uitwerkingen)

TEST BANK Intermediate Accounting, 18th Edition by Kieso, Warfield Chapter 1 - 23 Complete
 0 keer verkocht

1. Financial statements are the principal means through which a company communicates its financial information to those outside it. Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial Sta...

[Meer zien]

Voorbeeld 4 van de 1352  pagina's

Document informatie

  • 26 september 2024
  • 1352
  • 2024/2025
  • Tentamen (uitwerkingen)
  • Vragen en antwoorden

Onderwerpen

  • 1 financial statements are the principal means th
  • 2 users of financial reports of a company use the
  • 3 an effective process of capital allocation prov
  • 4 investors are interested in financial reporting

Geschreven voor

Alle documenten voor dit vak (1)

Verkoper

avatar-seller
OCEANTALENT

Voorbeeld van de inhoud

TEST BANK
Intermediate Accounting, 18th Edition
by Kieso, Warfield Chapter 1 - 23 Complete

,Table of Contents
1 The Environment and Conceptual Framework of Financial Reporting

2 The Accounting Information System

3 Income Statement, Related Information, and Revenue Recognition

4 Balance Sheet and Statement of Cash Flows

5 Accounting and the Time Value of Money

6 Cash and Receivables

7 Valuation of Inventories: A Cost-Basis Approach

8 Inventories: Additional Valuation Issues

9 Acquisition and Disposition of Property, Plant, and Equipment

10 Depreciation, Impairments, and Depletion

11 Intangible Assets

12 Current Liabilities and Contingencies

13 Long-Term Liabilities

14 Stockholders’ Equity

15 Dilutive Securities and Earnings per Share

16 Investments

17 Revenue Recognition

18 Accounting for Income Taxes

19 Accounting for Pensions and Postretirement Benefits

20 Accounting for Leases

21 Accounting Changes and Error Analysis

22 Statement of Cash Flows

23 Full Disclosure in Financial Reporting

, CHAPTER 1
THE ENVIRONMENT AND CONCEPTUAL FRAMEWORK OF
FINANCIAL REPORTING
IFRS questions are available at the end of this chapter.


TRUE-FALSE—Conceptual
1. Financial statements are the principal means through which a company communicates its financial
information to those outside it.
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Preparation, IFRS: None

2. Users of financial reports of a company use the information provided by these reports to make
capital allocation decisions.
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Preparation, IFRS: None

3. An effective process of capital allocation provides an efficient market for buying and selling securities
and obtaining and granting credit.
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Preparation, IFRS: None

4. Investors are interested in financial reporting because it provides information that is useful for making
decisions.
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Preparation, IFRS: None

5. Users of financial accounting statements have both coinciding and conflicting needs for
information of various types.
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Preparation, IFRS: None

6. Although the FASB has developed a conceptual framework, no Statements of Financial Accounting
Concepts have been issued to date.
Ans: F, LO: 1, Bloom: K, Difficulty: Moderate, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

7. The passage of a new FASB Accounting Standards Update requires the support of five of the seven
board members.
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Preparation, IFRS: None

8. Statements of Financial Accounting Concepts set forth fundamental objectives and concepts that are
used by the FASB in developing future standards of financial accounting and reporting.
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

9. The FASB’s Codification creates a new set of GAAP.
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

, 1-2 Test Bank for Intermediate Accounting, Eighteenth Edition

10. The objective of financial reporting is to report the plans made by a company to improve the
productivity of its employees.
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Preparation, IFRS: None

11. A soundly developed conceptual framework enables the FASB to issue more useful and consistent
pronouncements over time.
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

12. A conceptual framework is a coherent system of concepts that flow from an objective.
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

13. The first level of the conceptual framework identifies the recognition, measurement, and
disclosure concepts used in establishing accounting standards.
Ans: F, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None


14. The objective of financial reporting serves as the foundation of the conceptual framework.
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

15. Users of financial statements are assumed to need no knowledge of business and financial accounting
matters to understand the information contained in financial statements.
Ans: F, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

16. Relevance and faithful representation are the two fundamental qualities that make
accounting information useful for decision-making.
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

17. The idea of consistency does not mean that companies cannot switch from one accounting method to
another.
Ans: T, LO: 2, Bloom: C, Difficulty: Moderate, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

18. Timeliness and neutrality are two ingredients of relevance.
Ans: F, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

19. Verifiability and predictive value are two ingredients of faithful representation.
Ans: F, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Reporting, AICPA PC: None, IMA: Reporting & Control: Financial
Statement Analysis, IFRS: None

20. Revenues, gains, and distributions to owners all increase equity.
Ans: F, LO: 2, Bloom: C, Difficulty: Moderate, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Measurement Analysis and Interpretation, AICPA PC: None, IMA:
Reporting & Control: Financial Statement Analysis, IFRS: None

21. Comprehensive income includes all changes in equity during a period except those resulting
from investments by owners and distributions to owners.
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: Knowledge, AICPA BC: None, AICPA AC: Measurement Analysis and Interpretation, AICPA PC: None, IMA:
Reporting & Control: Financial Statement Analysis, IFRS: None

Dit zijn jouw voordelen als je samenvattingen koopt bij Stuvia:

Bewezen kwaliteit door reviews

Bewezen kwaliteit door reviews

Studenten hebben al meer dan 850.000 samenvattingen beoordeeld. Zo weet jij zeker dat je de beste keuze maakt!

In een paar klikken geregeld

In een paar klikken geregeld

Geen gedoe — betaal gewoon eenmalig met iDeal, creditcard of je Stuvia-tegoed en je bent klaar. Geen abonnement nodig.

Direct to-the-point

Direct to-the-point

Studenten maken samenvattingen voor studenten. Dat betekent: actuele inhoud waar jij écht wat aan hebt. Geen overbodige details!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper OCEANTALENT. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor $17.99. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 63950 samenvattingen verkocht

Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen

Begin nu gratis

Laatst bekeken door jou

College aantekeningen ·

(0)

Beknopte samenvatting tentamenstof Sociaalzekerheidsrecht HBO-Rechten leerjaar 3

Samenvatting ·

(0)

Samenvatting Ontwikkelingspsychologie van prenatale fase tot schoolkind (B1-K1-W6)

Tentamen (uitwerkingen) ·

(0)

Test Bank for Math and Science for Young Children, 9th Edition by Rosalind Charlesworth

Samenvatting ·

(0)

Samenvatting Basisboek facility management - oriëntatie op facility management (OFM/ORIFAM)

Voordeelbundel ·

(0)

A-level Edexcel History Paper 3 Ireland and the Union c1774-1923 Summary notes

Tentamen (uitwerkingen) ·

(0)

TEST BANK FOR CLAYTON’S BASIC PHARMACOLOGY FOR NURSES 18TH EDITION BY WILLIHNGANZ

Tentamen (uitwerkingen) ·

(0)

ATI Fundamentals Proctored Exam (100 Questions and Answers) LATEST UPDATE 2022/2023

Tentamen (uitwerkingen) ·

(0)

NURSING NR224 Fundamental of Nursing Complete Question Bank with Answers and Rationale

Tentamen (uitwerkingen) ·

(0)

Oefententamen 4 Financieel Management; Basisboek bedrijfseconomie; HBO Accountancy
$17.99
  • (0)
In winkelwagen
Toegevoegd