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Financial and Managerial
ST
Accounting, 20th Edition
UV
TEST BANK
IA
Jan R. Williams, Mark Bettner
_A
Comprehensive Test Bank for Instructors
PP
and Students
||| ||| || ||| || | || ||| | || ||| |
RO
9781266236372
© Jan R. Williams & Mark Bettner. All rights reserved.
VE
Reproduction or distribution without permission is
prohibited.
D?
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Financial and Managerial Accounting (20th Ed.)
Authors: Jan R. Williams and Mark Bettner
ISBN: 9781266236372
ST
PART I: THE ACCOUNTING CYCLE
Chapter 1: Accounting: Information for Decision Making
Chapter 2: Basic Financial Statements
UV
Chapter 3: The Accounting Cycle: Capturing Economic Events
Chapter 4: The Accounting Cycle: Accruals and Deferrals
Chapter 5: The Accounting Cycle: Reporting Financial Results
PART II: ASSETS, LIABILITIES, AND EQUITY
IA
Chapter 6: Merchandising Activities
Chapter 7: Financial Assets
Chapter 8: Inventories and the Cost of Goods Sold
Chapter 9: Plant and Intangible Assets
_A
Chapter 10: Liabilities
Chapter 11: Stockholder’s Equity: Paid-in Capital
PART III: ADVANCED FINANCIAL REPORTING AND ANALYSIS
PP
Chapter 12: Revenue Recognition and Reporting Results of Operations
Chapter 13: Statement of Cash Flows
Chapter 14: Financial Statement Analysis
Chapter 15: Global Business and Accounting
RO
PART IV: MANAGERIAL ACCOUNTING AND COST SYSTEMS
Chapter 16: Management Accounting: A Business Partner
Chapter 17: Job Order Cost Systems and Overhead Allocations
Chapter 18: Process Costing
Chapter 19: Costing and the Value Chain
VE
PART V: DECISION MAKING, BUDGETING, AND PERFORMANCE
Chapter 20: Cost-Volume-Profit Analysis
Chapter 21: Incremental Analysis
D?
Chapter 22: Responsibility Accounting and Transfer Pricing
Chapter 23: Operational Budgeting
Chapter 24: Standard Cost Systems
Chapter 25: Rewarding Business Performance
Chapter 26: Capital Budgeting
, Test Bank for Financial & Managerial Accounting, 20th Edition by Jan Williams
Answers Included ✅
Appendix B
1) Future value is the amount that must be invested today at a specific interest rate to receive a
particular amount at some future date.
⊚ true
⊚ false
ST
2) The present value of an ordinary annuity is the amount that must be invested today at a
UV
specific interest rate to in order to receive a particular amount at the end of a specified
number of future periods.
⊚ true
⊚ false
IA
3) The future value of an investment gradually increases toward its present value amount.
⊚ true
⊚ false
_A
4) Compound interest assumes that the interest earned on a particular investment is reinvested.
⊚ true
PP
⊚ false
5) Discounting a future value amount will determine its present value amount.
⊚ true
RO
⊚ false
6) The lower the discount rate of an investment, the lower the present value of the investment.
⊚ true
VE
⊚ false
7) Annuities provide a series of cash flows to investors at regular intervals for a specified period
D?
of time.
⊚ true
⊚ false
1
, 8) The market price of a bond is equal to the discounted present value of its future cash flows.
⊚ true
⊚ false
ST
9) An ordinary annuity is the discounted present value of a series of cash flows made at the
beginning of each of a specified number of periods.
⊚ true
⊚ false
UV
10) Interest rate percentages can be expressed in a variety of ways, including monthly, quarterly,
semiannually, and annually.
⊚ true
IA
⊚ false
_A
11) The difference between a present value and a related future value amount depends on (1) the
discount rate and (2) the length of time over which the present value accumulates interest.
⊚ true
⊚ false
PP
12) The liability for post-retirement benefits is reported at the discounted present value of
anticipated future cash outlays to retired employees in the form of pensions, health insurance
premiums, etc.
RO
⊚ true
⊚ false
13) As discount rates used to value investments increase, the present values of those investments
VE
decreases.
⊚ true
⊚ false
D?
2
Financial and Managerial
ST
Accounting, 20th Edition
UV
TEST BANK
IA
Jan R. Williams, Mark Bettner
_A
Comprehensive Test Bank for Instructors
PP
and Students
||| ||| || ||| || | || ||| | || ||| |
RO
9781266236372
© Jan R. Williams & Mark Bettner. All rights reserved.
VE
Reproduction or distribution without permission is
prohibited.
D?
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Financial and Managerial Accounting (20th Ed.)
Authors: Jan R. Williams and Mark Bettner
ISBN: 9781266236372
ST
PART I: THE ACCOUNTING CYCLE
Chapter 1: Accounting: Information for Decision Making
Chapter 2: Basic Financial Statements
UV
Chapter 3: The Accounting Cycle: Capturing Economic Events
Chapter 4: The Accounting Cycle: Accruals and Deferrals
Chapter 5: The Accounting Cycle: Reporting Financial Results
PART II: ASSETS, LIABILITIES, AND EQUITY
IA
Chapter 6: Merchandising Activities
Chapter 7: Financial Assets
Chapter 8: Inventories and the Cost of Goods Sold
Chapter 9: Plant and Intangible Assets
_A
Chapter 10: Liabilities
Chapter 11: Stockholder’s Equity: Paid-in Capital
PART III: ADVANCED FINANCIAL REPORTING AND ANALYSIS
PP
Chapter 12: Revenue Recognition and Reporting Results of Operations
Chapter 13: Statement of Cash Flows
Chapter 14: Financial Statement Analysis
Chapter 15: Global Business and Accounting
RO
PART IV: MANAGERIAL ACCOUNTING AND COST SYSTEMS
Chapter 16: Management Accounting: A Business Partner
Chapter 17: Job Order Cost Systems and Overhead Allocations
Chapter 18: Process Costing
Chapter 19: Costing and the Value Chain
VE
PART V: DECISION MAKING, BUDGETING, AND PERFORMANCE
Chapter 20: Cost-Volume-Profit Analysis
Chapter 21: Incremental Analysis
D?
Chapter 22: Responsibility Accounting and Transfer Pricing
Chapter 23: Operational Budgeting
Chapter 24: Standard Cost Systems
Chapter 25: Rewarding Business Performance
Chapter 26: Capital Budgeting
, Test Bank for Financial & Managerial Accounting, 20th Edition by Jan Williams
Answers Included ✅
Appendix B
1) Future value is the amount that must be invested today at a specific interest rate to receive a
particular amount at some future date.
⊚ true
⊚ false
ST
2) The present value of an ordinary annuity is the amount that must be invested today at a
UV
specific interest rate to in order to receive a particular amount at the end of a specified
number of future periods.
⊚ true
⊚ false
IA
3) The future value of an investment gradually increases toward its present value amount.
⊚ true
⊚ false
_A
4) Compound interest assumes that the interest earned on a particular investment is reinvested.
⊚ true
PP
⊚ false
5) Discounting a future value amount will determine its present value amount.
⊚ true
RO
⊚ false
6) The lower the discount rate of an investment, the lower the present value of the investment.
⊚ true
VE
⊚ false
7) Annuities provide a series of cash flows to investors at regular intervals for a specified period
D?
of time.
⊚ true
⊚ false
1
, 8) The market price of a bond is equal to the discounted present value of its future cash flows.
⊚ true
⊚ false
ST
9) An ordinary annuity is the discounted present value of a series of cash flows made at the
beginning of each of a specified number of periods.
⊚ true
⊚ false
UV
10) Interest rate percentages can be expressed in a variety of ways, including monthly, quarterly,
semiannually, and annually.
⊚ true
IA
⊚ false
_A
11) The difference between a present value and a related future value amount depends on (1) the
discount rate and (2) the length of time over which the present value accumulates interest.
⊚ true
⊚ false
PP
12) The liability for post-retirement benefits is reported at the discounted present value of
anticipated future cash outlays to retired employees in the form of pensions, health insurance
premiums, etc.
RO
⊚ true
⊚ false
13) As discount rates used to value investments increase, the present values of those investments
VE
decreases.
⊚ true
⊚ false
D?
2
