FULL zTEST zBANK zFOR
Intermediate zAccounting, z11th zEdition
Answer zKey
Test zname: zchapter
11)
z z
TERM PHRASE Term
znumberzthat
zmatcheszthe
zphrase.
1. zPredictive lue Information zis zuseful zin 1
zva
projecting zcash zflows.
2. zRelevance Pertinent zto zthe zdecision zat 2
hand.
3. zDistribution to Information zis zavailable zprior 5
owners to zthe zdecision.
4. zConfirmatory Decrease zin zequity zdue 3
value ztoz
transfers zto zowners.
5. zTimeliness Information zconfirms 4
expectations.
2)
TERM PHRASE Term
znumberz
that
zmatches
the zphrase.
1. zGain Along zwith zrelevance, za 5
fundamental zdecision-
specificzquality.
2. zMateriality Results zif zan zasset zis for 1
zsold
more zthan zbook zvalue.
3. zCompleteness Contains zall zinformation 3
necessary zfor zfaithful
representation.
Version 1
z1
, 4. The zchange zin zequity zfrom 4
zComprehensive nonowner ztransactions.
income
Version 2
z1
, 5. zFaithful Concerns zthe zdecision-making 2
zrepresentatio impact zof zboth zthe zamount
n zandz
nature zof zan zitem.
3)
TERM PHRASE Term
znumberzthat
zmatcheszthe
zphrase.
1. Neutrality Important zin zanalysis zbetween 2
firms.
2. Comparability Accounting zinformation zshould 1
be zunbiased.
3. Consistency The zdecision zto zinclude zan 5
amount zin zthe
zfinancialz
statements.
4. Cost-effectiveness z Applying zthe zsame zaccounting 3
practices zover ztime.
5. Recognition Considers zthe zvalue zof zusing 4
information zrelative zto zcost
zofz
providing zit.
4)
TERM PHRASE Term
znumberz
that
zmatchesz
the
zphrase.
1. Monetary Implies zconsensus zamong 2
zunitz
assumption different zobservers.
2. Verifiability Assumes zall ztransactions zcan zbe 3
identified zwith za
zparticularzentity.
3. Economic Assumes zan zentity zwill zcontinue 4
zentityz
assumption to zoperate zindefinitely.
4. Going Requires zreporting zthe 5
zconcernzassumpti financial zlife zof zan zentity
on zinz
discrete ztime zframes.
Ignores zthe zpossibility zof 1
5. Periodicityz inflation.
assumption
5)
TERM PHRASE Term znumber
Version 3
z1
, that
zmatches
the zphrase.
1. zHistorical cost Basis zof zmeasurement zfor 1
zfixed
Version 4
z1
Intermediate zAccounting, z11th zEdition
Answer zKey
Test zname: zchapter
11)
z z
TERM PHRASE Term
znumberzthat
zmatcheszthe
zphrase.
1. zPredictive lue Information zis zuseful zin 1
zva
projecting zcash zflows.
2. zRelevance Pertinent zto zthe zdecision zat 2
hand.
3. zDistribution to Information zis zavailable zprior 5
owners to zthe zdecision.
4. zConfirmatory Decrease zin zequity zdue 3
value ztoz
transfers zto zowners.
5. zTimeliness Information zconfirms 4
expectations.
2)
TERM PHRASE Term
znumberz
that
zmatches
the zphrase.
1. zGain Along zwith zrelevance, za 5
fundamental zdecision-
specificzquality.
2. zMateriality Results zif zan zasset zis for 1
zsold
more zthan zbook zvalue.
3. zCompleteness Contains zall zinformation 3
necessary zfor zfaithful
representation.
Version 1
z1
, 4. The zchange zin zequity zfrom 4
zComprehensive nonowner ztransactions.
income
Version 2
z1
, 5. zFaithful Concerns zthe zdecision-making 2
zrepresentatio impact zof zboth zthe zamount
n zandz
nature zof zan zitem.
3)
TERM PHRASE Term
znumberzthat
zmatcheszthe
zphrase.
1. Neutrality Important zin zanalysis zbetween 2
firms.
2. Comparability Accounting zinformation zshould 1
be zunbiased.
3. Consistency The zdecision zto zinclude zan 5
amount zin zthe
zfinancialz
statements.
4. Cost-effectiveness z Applying zthe zsame zaccounting 3
practices zover ztime.
5. Recognition Considers zthe zvalue zof zusing 4
information zrelative zto zcost
zofz
providing zit.
4)
TERM PHRASE Term
znumberz
that
zmatchesz
the
zphrase.
1. Monetary Implies zconsensus zamong 2
zunitz
assumption different zobservers.
2. Verifiability Assumes zall ztransactions zcan zbe 3
identified zwith za
zparticularzentity.
3. Economic Assumes zan zentity zwill zcontinue 4
zentityz
assumption to zoperate zindefinitely.
4. Going Requires zreporting zthe 5
zconcernzassumpti financial zlife zof zan zentity
on zinz
discrete ztime zframes.
Ignores zthe zpossibility zof 1
5. Periodicityz inflation.
assumption
5)
TERM PHRASE Term znumber
Version 3
z1
, that
zmatches
the zphrase.
1. zHistorical cost Basis zof zmeasurement zfor 1
zfixed
Version 4
z1
