Test bank for survey of accounting 8th edition

Testn Bankn Surveyn ofn Accountingn 8thn Editionn Carln Warren

1.nThenbasicnelementsnofnanfinancialnaccountingnsystemnincludenanframeworknfornpreparingnfinancialnstatements.

a. True
b. False



ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONnTYPE: Truen/nFalse
HASnVARIABLES: False
LEARNINGnOBJECTIVES: SACC.WARR.18.2-1n-nLO:n02.01
NATIONALnSTANDARDS: UnitednStatesn-nBUSPROG:nAnalytic
STATEnSTANDARDS: UnitednStatesn-nDISC:n-nACBSP:nAPC-01n-nPurpose
UnitednStatesn-nAKn-nDISC:nAICPA:nFN-Measurement
KEYWORDS: Bloom's:nRemembering
DATEnCREATED: 7/19/2016n9:45nAM
DATEnMODIFIED: 7/19/2016n9:45nAM
QUESTIONnID: JFND-GO3A-EW4R-GQNB



QUESTIONnGLOBALnID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
KC5R-CF1U-NA31-GHSU-OATA-8RSU-OA3Z-GOSU-QQMR-GCSU-1ATU-CO5G-NA3U-E7JI-YT4D-JFNN-4OTI-GO4W-NQ

,2.nThenaccountingnequationnisnexpressednasnfollows:nAssetsn=nLiabilitiesn+nStockholders'nEquity.

a. True
b. False



ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONnTYPE: Truen/nFalse
HASnVARIABLES: False
LEARNINGnOBJECTIVES: SACC.WARR.18.2-1n-nLO:n02.01
NATIONALnSTANDARDS: UnitednStatesn-nBUSPROG:nAnalytic
STATEnSTANDARDS: UnitednStatesn-nDISC:n-nACBSP:nAPC-06n-nRecordingnTransactions
UnitednStatesn-nAKn-nDISC:nAICPA:nFN-Measurement
KEYWORDS: Bloom's:nRemembering
DATEnCREATED: 7/19/2016n9:45nAM
DATEnMODIFIED: 7/19/2016n9:45nAM
QUESTIONnID: JFND-GO3A-EW4R-GQB3



QUESTIONnGLOBALnID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
CE5U-NATI-GBTD-OCB1-CRSU-EATI-8RSS-RP3T-GOSU-QA33-GHSS-G3UR-GRHU-CA3Z-E7JI-YT4D-JFNN-4OTI-GO4W




3.nAnyngivenntransactionnmustnaffectnatnleastntwondifferentnpartsnofnthenaccountingnequation.

, a. True
b. False



ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTIONnTYPE: Truen/nFalse
HASnVARIABLES: False
LEARNINGnOBJECTIVES: SACC.WARR.18.2-1n-nLO:n02.01
NATIONALnSTANDARDS: UnitednStatesn-nBUSPROG:nAnalytic
STATEnSTANDARDS: UnitednStatesn-nDISC:n-nACBSP:nAPC-06n-nRecordingnTransactions
UnitednStatesn-nAKn-nDISC:nAICPA:nFN-Measurement
KEYWORDS: Bloom's:nUnderstanding
DATEnCREATED: 7/19/2016n9:45nAM
DATEnMODIFIED: 7/19/2016n9:45nAM
QUESTIONnID: JFND-GO3A-EW4R-GQBA



QUESTIONnGLOBALnID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
CCT3-GA5G-EPJW-CASU-GQJU-CESU-YAMR-GOSU-OQDR-GOSS-NCBT-8YAD-1C5D-E7JI-YT4D-JFNN-4OTI-GO4W-NQ




4.nThenaccountingnequationncannbenexpressednas:nAssetsn−nLiabilitiesn=nRevenues.

a. True
b. False

, ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTIONnTYPE: Truen/nFalse
HASnVARIABLES: False
LEARNINGnOBJECTIVES: SACC.WARR.18.2-1n-nLO:n02.01
NATIONALnSTANDARDS: UnitednStatesn-nBUSPROG:nAnalytic
STATEnSTANDARDS: UnitednStatesn-nDISC:n-nACBSP:nAPC-06n-nRecordingnTransactions
UnitednStatesn-nAKn-nDISC:nAICPA:nFN-Measurement
KEYWORDS: Bloom's:nRemembering
DATEnCREATED: 7/19/2016n9:45nAM
DATEnMODIFIED: 11/2/2016n4:53nAM
QUESTIONnID: JFND-GO3A-EW4R-GQNG



QUESTIONnGLOBALnID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN
8RAU-OATZ-GTTU-GPUG-CRSU-NCDN-8RSS-CPTA-GOSU-13TU-CWSU-YPTS-CWHU-EPUD-E7JI-YT4D-JFNN-4OTI-GO




5.nOnnanstatementnofncashnflows,neachncashntransactionnisnrecordednandnclassifiednasnannoperating,ninvesting,nornfinancingnactivity.

a. True
b. False