100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Using Financial Accounting Information The Alternative to Debits and Credits 10th Edition - Test Bank CA$33.88   Add to cart
Quickly navigate to
Preview
  2.  
  3. Accounting - Test Bank
  4.  
  5. Accounting - Test Bank
  6.  
  7. Accounting - Test Bank

Exam (elaborations)

Using Financial Accounting Information The Alternative to Debits and Credits 10th Edition - Test Bank
 11 views  0 purchase
  • Course
  • Accounting - Test Bank
  • Institution
  • Accounting - Test Bank

Appendix A True / False 1. The state of economic development can affect accounting standards. a. True b. False ANSWER: DIFFICULTY: REFERENCES: LEARNING OBJECTIVES: NATIONAL STANDARDS: ACCREDITING STANDARDS: KEYWORDS: True Easy pp. A-2-A-3 FACC.PONO.18.A-01 - LO: A-01 United States - BUSP...

[Show more]

Preview 4 out of 1472  pages

Document information

  • September 13, 2023
  • 1472
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • complete test bank
  • latest test bank
  • using financial accounting information the alterna

Written for

  • Accounting - Test Bank
  • Accounting - Test Bank
  • Accounting - Test Bank
All documents for this subject (74)

Seller

avatar-seller
ExamsExpert

Reviews received

Content preview

,Appendix A
True / False

1. The state of economic development can affect accounting standards.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
REFERENCES: pp. A-2-A-3
LEARNING OBJECTIVES: FACC.PONO.18.A-01 - LO: A-01
NATIONAL STANDARDS: United States - BUSPROG: Diversity
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Remembering

2. Japan has a greater number of differences than the United States between the amount of income reported to
stockholders and that reported to the taxing authorities.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
REFERENCES: pp. A-2-A-3
LEARNING OBJECTIVES: FACC.PONO.18.A-01 - LO: A-01
NATIONAL STANDARDS: United States - BUSPROG: Communications
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Remembering

3. No single explanation can be given for the divergence of accounting standards.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
REFERENCES: pp. A-2-A-3
LEARNING OBJECTIVES: FACC.PONO.18.A-01 - LO: A-01
NATIONAL STANDARDS: United States - BUSPROG: Diversity
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Remembering




© 2018 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Page 1

,Appendix A
4. In countries, like Japan and much of Europe, fewer differences between the amount of income reported to stockholders
and that reported to the taxing authorities exist than in the United States.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
REFERENCES: pp. A-2-A-3
LEARNING OBJECTIVES: FACC.PONO.18.A-01 - LO: A-01
NATIONAL STANDARDS: United States - BUSPROG: Diversity
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Remembering

5. According to the text, in economies like those that made up the former Soviet Union, accounting standards are
relatively less complex due to the fact that they are just beginning to be developed.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
REFERENCES: pp. A-2-A-3
LEARNING OBJECTIVES: FACC.PONO.18.A-01 - LO: A-01
NATIONAL STANDARDS: United States - BUSPROG: Communications
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Remembering

6. Ultimately, it will be the responsibility of the FASB in the United States to decide if the advantages of IFRS’s outweigh
the disadvantages.
a. True
b. False
ANSWER: False
DIFFICULTY: Moderate
REFERENCES: pp. A-3-A-4
LEARNING OBJECTIVES: FACC.PONO.18.A-02 - LO: A-02
NATIONAL STANDARDS: United States - BUSPROG: Diversity
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Understanding




© 2018 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Page 2

, Appendix A
7. A single set of accounting standards could help a U.S. company save time and money in the acquisition of a German
company.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
REFERENCES: pp. A-3-A-4
LEARNING OBJECTIVES: FACC.PONO.18.A-02 - LO: A-02
NATIONAL STANDARDS: United States - BUSPROG: Diversity
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Understanding

8. IFRS are now mandatory in all member states of the economic and political organization known as the European
Union.
a. True
b. False
ANSWER: True
DIFFICULTY: Easy
REFERENCES: pp. A-4-A-5
LEARNING OBJECTIVES: FACC.PONO.18.A-03 - LO: A-03
NATIONAL STANDARDS: United States - BUSPROG: Diversity
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Remembering

9. Companies in Mexico have to begin using IFRS by 2020.
a. True
b. False
ANSWER: False
DIFFICULTY: Easy
REFERENCES: pp. A-4-A-5
LEARNING OBJECTIVES: FACC.PONO.18.A-03 - LO: A-03
NATIONAL STANDARDS: United States - BUSPROG: Communications
ACCREDITING STANDARDS: ACBSP: APC-02-GAAP
AICPA: FN-Reporting
KEYWORDS: Bloom's: Remembering




© 2018 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Page 3

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$33.88. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$33.88
  • (0)
  Add to cart