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TEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen Chapter 1 - 20 |Complete Newest Version

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Advanced Financial Accounting 13th Edi

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Advanced Financial Accounting 13th Edi

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Advanced Financial Accounting

TEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen Chapter 1 - 20 |Complete Newest VersionTEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen Chapter 1 - 20 |Complete Newest VersionTEST BANK For Advanced Financial Accounting 13th Edition By...

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test bank for advanced financial accounting 13th e
test bank for advanced financial accounting
advanced financial accounting 13th edition
advanced financial accounting
13th edition by theodore christe

Institution Advanced Financial Accounting 13th Edi
Course Advanced Financial Accounting 13th Edi

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TEST BANKx x

Advanced Financial Accounting13th
x x x

Edition
By Theodore Christensen ALL CHAPTERS 1 TO 20
x x x x x x x

COVERED
x

,TABLE OF CONTENT
x x
x x x x x

PREFACE1. xIntercorporate xAcquisitions xand xInvestments xin xOther xEntities
2. xReporting xIntercorporate xInvestments xand xConsolidation xof xWholly xOwned xSubsidiaries xwith xNo xDifferential
3. xThe xReporting xEntity xand xthe xConsolidation xof xLess-Than-Wholly-Owned xSubsidiaries xwith xNoDifferential
4. xConsolidation xof xWholly xOwned xSubsidiaries xAcquired xat xMore xThan xBook xValue
5. xConsolidation xof xLess-Than-Wholly-Owned xSubsidiaries xAcquired xat xMore xThan xBook xValue
6. xIntercompany xInventory xTransactions
7. xIntercompany xTransfers xof xServices xand xNoncurrent xAssets
8. xIntercompany xIndebtedness
9. xConsolidation xOwnership xIssues
10. xAdditional xConsolidation xReporting xIssues
11. xMultinational xAccounting: xForeign xCurrency xTransactions xand xFinancial xInstruments
12. xMultinational xAccounting: xIssues xin xFinancial xReporting xand xTranslation xof xForeign xEntity xStatements
13. xSegment xand xInterim xReporting
14. xSEC xReporting
15. xPartnerships: xFormation, xOperation, xand xChanges xin xMembership
16. xPartnerships: xLiquidation
17. xGovernmental xEntities: xIntroduction xand xGeneral xFund xAccounting
18. xGovernmental xEntities: xSpecial xFunds xand xGovernmentwide x Financial xStatements
19. xNot-for-Profit xEntities
20. xCorporations xin xFinancial xDifficulty

Chapter x1 Intercorporate x Acquisitions x and x Investments x in x Other x Entities

1) Assuming x no x impairment x in x value x prior x to x transfer, x assets x transferred x by x a x parent
x company x tox another x entity x it x has x created x should x be x recorded x by xthe x newly x created x entity
xat x the x assets':

A) cost x to x the x parent x company.
B) book x value x on xthe x parent x company's x books x at x the x date x of x transfer.
C) fair x value x at x the x date x of xtransfer.
D) fair xvalue xof xconsideration xexchanged xby xthe xnewly xcreated xentity.

Answer: x B
xDifficulty: x1

xEasy

Topic: x Internal x Expansion: x Creating x a x Business x Entity; x Valuation x of x Business x Entities
x Learning xObjective: 01-01 x Understand x and x explain x the xreasons x for x and x different x methods

xof xbusiness x expansion, x the x types x of x organizational x structures, x and x the x types x of

x acquisitions.; x 01 x-03 xMake x calculations x and x prepare x journal x entries x for x the x creation x of xa

x business x entity.

Bloom's: Remember
xAACSB: x Reflective

xThinkingxA ICPA: FN
x Decision x Making

2) Given xthe xincreased xdevelopment xof xcomplex xbusiness xstructures, xwhich xof xthe
xfollowingxr egulators xis xresponsible x for xthe xcontinued x usefulness x of xaccounting x reports?

,A) Securities x and x Exchange x Commission x (SEC)
B) Public x Company x Accounting x Oversight x Board x (PCAOB)
C) Financial x Accounting x Standards x Board x (FASB)
D) All x of xthe x other x answers x are x correct

Answer: x D
xDifficulty: x1

xEasy

Topic: An x Introduction x to x Complex x Business x Structures
Learning xObjective: 01-01 xUnderstand xand xexplain xthe xreasons xfor xand xdifferent xmethods
xofxbusiness x expansion, x the x types x of x organizational x structures, x and x the x types x of

xacquisitions.

Bloom's: Remember
xAACSB: x Reflective

xThinkingxA ICPA: FN
xReporting

3) A xbusiness xcombination xin xwhich xthe xacquired xcompany's xassets xand xliabilities xare
xcombinedxw ith xthose x of xthe xacquiring x company xinto x a x single x entity xis xdefined xas:

A) Stock xacquisition
B) Leveraged xbuyout
C) Statutory xMerger
D) Reverse x statutory x rollup

, Answer: x C
xDifficulty: x1

xEasy

Topic: Organizational x Structure x and x Financial x Reporting
Learning xObjective: 01-04 xUnderstand xand xexplain xthe xdifferences xbetween xdifferent xforms
xofxb usiness x combinations.

Bloom's: Remember
xAACSB: x Reflective

xThinkingxA ICPA: FN
x Decision x Making

4) In x which x of xthe x following x situations x do x accounting x standards x not x require x that
x the x financialx
statements x of xthe x parent x and x subsidiary xbe x consolidated?
A) A xcorporation xcreates xa xnew x100 xpercent x owned xsubsidiary
B) A x corporation x purchases x 90 x percent x of xthe x voting x stock x of x another x company
C) A x corporation x has x both x control x and x majority x ownership x of x an x unincorporated x company
D) A x corporation x owns x less-than x a x controlling x interest x in x an x unincorporated x company

Answer: x D
xDifficulty: x1

xEasy

Topic: Organizational x Structure x and x Financial x Reporting
Learning xObjective: 01-01 xUnderstand xand xexplain xthe xreasons xfor xand xdifferent xmethods
xofxbusiness x expansion, x the x types x of x organizational x structures, x and x the x types x of

xacquisitions.

Bloom's: Remember
xAACSB: x Reflective

xThinkingxA ICPA: FN
x Decision x Making

During xits xinception, xDevon xCompany xpurchased xland x for x$100,000 xand xa xbuilding xfor
x$180,000. xAfter xexactly x3 xyears, xit xtransferred xthese xassets xand xcash xof x$50,000 xto xa xnewly

xcreated xsubsidiary,xR egan x Company, xin x exchange xfor x 15,000 xshares x of x Regan's x $10 x par

xvalue xstock. x Devon x uses x straight-line x depreciation. x Useful x life xfor x the x building x is x 30 x years,

xwith x zero xresidual x value. x An x appraisal xrevealed xthat x the x building x has xa x fair x value x of

x$200,000.

5) Based x on x the x information x provided, x at x the x time x of x the x transfer, x Regan x Company x should
x record:

A) Building x at x $180,000 x and x no x accumulated x depreciation.
B) Building x at x $162,000 x and x no x accumulated x depreciation.
C) Building x at x $200,000 x and x accumulated x depreciation x of x $24,000.
D) Building x at x $180,000 x and x accumulated x depreciation x of x $18,000.

Answer: x x D
xDifficulty: x 2

x Medium

Topic: Valuation x of x Business x Entities; x Accounting x for x Internal x Expansion: x Creating
x Business xEntities

Learning xObjective: 01-04 x Understand x and x explain x the x differences x between x different x forms
xof xbusiness x combinations.; x 01-03 x Make x calculations x and x prepare x journal x entries x for x the

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TEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen Chapter 1 - 20 |Complete Newest Version

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