$55.00 Original price was: $55.00.$40.00Current price is: $40.00.
Digital item No Waiting Time Instant DownloadISBN-13: 978-1337272094 ISBN-10: 1337272094
A test bank is an essential material that has a greater number of questions and answers regarding a specific textbook. The Accounting 27th edition by Warren Carl S, Reeve James M, and Duchac Jonathan Test Bank provides a variety of practice questions to students. This test bank is instrumental in helping the students prepare for examinations and also understand the subject more deeply.
The Accounting Test Bank is beneficial in numerous ways. First, it is a method that enables you to revise the important topics in the textbook. It is possible to practice questions that cut across financial concepts such as; Financial Statements, Balance Sheets, Income Statements, and Cash Flow Statements. These topics are vital for all accounting studies, and practicing them through the use of the test bank makes one become familiar with them.
For one to maximally benefit from the Accounting Test Bank, the following steps should be followed:
The Accounting, 27th Edition Test Bank has also been prepared in such a way that all features aid student study:
Test Bank for Accounting, 27th Edition by Carl S. Warren, James M. Reeve, and Jonathan Duchac is comparable to a tutor who will help you progress in many ways such as the following:
In brief, we have found the Test Bank for Accounting, 27th Edition, by Carl S. Warren, James M. Reeve, and Jonathan Duchac to be a great resource for students. It has several practice questions, it is consistent with your book, and it aids in boosting your level of confidence in accounting. This test bank will ensure that students’ studying is not only more efficient but also more fun. Make sure you do not miss the opportunity to have your learning experience improved!
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True / False |
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1. Even though GAAP requires the accrual basis of accounting, some businesses prefer using the cash basis of accounting. a. True b. False ANSWER: True DIFFICULTY: ModerateBloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 – GAAPACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
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2. Generally accepted accounting principles require the accrual basis of accounting. a. True b. False ANSWER: True DIFFICULTY: ModerateBloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 – GAAPACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
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3. The revenue recognition principle states that revenue should be recorded in the same period as the cash is received. a. True b. False ANSWER: False DIFFICULTY: ModerateBloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 – GAAPACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
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4. The system of accounting where revenues are recorded when they are earned and expenses are recorded when they are incurred is called the cash basis of accounting. a. True b. False ANSWER: False DIFFICULTY: ModerateBloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.04 – Cash vs. AccrualACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
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5. The matching principle requires expenses to be recorded in the same period that the related revenue is recorded. a. True b. False ANSWER: True DIFFICULTY: ModerateBloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 – GAAPACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
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6. For most large businesses, the cash basis of accounting will provide accurate financial statements for user needs. a. True b. False ANSWER: False DIFFICULTY: ModerateBloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 – Financial StatementsACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
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7. An example of deferred revenue is Unearned Rent. a. True b. False ANSWER: True DIFFICULTY: EasyBloom’s: Understanding LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.04 – Cash vs. AccrualACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
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8. Accruals are needed when an unrecorded expense has been incurred or an unrecorded revenue has been earned. a. True b. False ANSWER: True DIFFICULTY: ModerateBloom’s: Understanding LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.04 – Cash vs. AccrualACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
9. If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.
a. True
b. False
ANSWER: False
DIFFICULTY: ModerateBloom’s: Understanding
LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01
ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 – Recording TransactionsACCT.ACBSP.APC.07 – Adjusting EntriesACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic
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10. The revenue recognition principle requires that the reporting of revenue be included in the period when cash for the service is received. a. True b. False ANSWER: False DIFFICULTY: ModerateBloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.18.03-01 – 03-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 – GAAPACCT.AICPA.FN.03 – MeasurementBUSPROG: Analytic |
$55.00 Original price was: $55.00.$40.00Current price is: $40.00.
$55.00 Original price was: $55.00.$19.00Current price is: $19.00.
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