Unearned pr - Study guides, Class notes & Summaries
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Test Bank Chapter 3 The Accounting Information System.
- Exam (elaborations) • 44 pages • 2020
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CHAPTER 3

THE ACCOUNTING INFORMATION SYSTEM

IFRS questions are available at the end of this chapter.

TRUE/FALSE

	Description
	F	1.	Recording transactions.
	T	2.	Nominal accounts.
	F	3.	Real (permanent) accounts.
	F	4.	Internal event example.
	F	5.	Liability and stockholders’ equity accounts.
	F	6.	Debits and credits.
	F	7.	Steps in accounting cycle.
	T	8.	Purpose of trial balance.
	T	9.	General journal.
	F	10.	Posting and trial balance.
	T	11.	Adjusting entries for prepayments.
	T	12.	Exam...
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Test Bank CHAPTER 22 ACCOUNTING CHANGES AND ERROR ANALYSIS
- Answers • 35 pages • 2020
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CHAPTER 22

ACCOUNTING CHANGES AND ERROR ANALYSIS

TRUE-FALSE—Conceptual
Answer	No.	Description
	F	1.	Change in accounting estimate.
	T	2.	Errors in financial statements.
	F	3.	Adoption of a new principle.
	T	4.	Retrospective application of accounting principle.
	F	5.	Reporting cumulative effect of change in principle.
	T	6.	Disclosure requirements for a change in principle.
	T	7.	Indirect effect of an accounting change.
	T	8.	Retrospective application impracticality.
	F	9.	Reporting changes i...
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