Exam (elaborations)
Intermediate Accounting 11th Edition By David Spiceland (Test Bank)
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Intermediate Accounting, 11e David Spiceland (Test Bank) Intermediate Accounting, 11e David Spiceland (Test Bank)
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IntermediateAccounting, 11e
David Spiceland
(Test Bank All
Chapters)
(Answers at the end
of each Chapter)
(Download link at the
end of this file)
,Chapter 1 (1)
1) Listed below are five terms followed by a list of phrases that describe or characterize each of
the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Predictive value Information is useful in ____
projecting cash flows.
2. Relevance Pertinent to the decision at ____
hand.
3. Distribution to Information is available prior ____
owners to the decision.
4. Confirmatory Decrease in equity due to ____
value transfers to owners.
5. Timeliness Information confirms ____
expectations.
Version 1 1
,2) Listed below are five terms followed by a list of phrases that describe or characterize each of
the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Gain Along with relevance, a ____
fundamental decision-specific
quality.
2. Materiality Results if an asset is sold ____
for more than book value.
3. Completeness Contains all information ____
necessary for faithful
representation.
4. Comprehensive The change in equity from ____
income nonowner transactions.
5. Faithful Concerns the decision-making ____
representation impact of both the amount and
nature of an item.
Version 1 2
, 3) Listed below are five terms followed by a list of phrases that describe or characterize each of
the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Neutrality Important in analysis between ____
firms.
2. Comparability Accounting information should ____
be unbiased.
3. Consistency The decision to include an ____
amount in the financial
statements.
4. Cost- Applying the same accounting ____
effectiveness practices over time.
5. Recognition Considers the value of using ____
information relative to cost
of providing it.
Version 1 3
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