Test Bank - Survey of Accounting 27th Edition by Christopher T. Edmonds, All Chapters.pdf

Testw Bankw Surveyw ofw Accountingw 8thw Editionw Carlw Warren

1.wThewbasicwelementswofwawfinancialwaccountingwsystemwincludewawframeworkwforwpreparingwfinancialwstatements.

a. True
b. False



ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONwTYPE: Truew/wFalse
HASwVARIABLES: False
LEARNINGwOBJECTIVES: SACC.WARR.18.2-1w-wLO:w02.01
NATIONALwSTANDARDS: UnitedwStatesw-wBUSPROG:wAnalytic
STATEwSTANDARDS: UnitedwStatesw-wDISC:w-wACBSP:wAPC-01w-wPurpose
UnitedwStatesw-wAKw-wDISC:wAICPA:wFN-
Measurement
KEYWORDS: Bloom's:wRemembering
DATEwCREATED: 7/19/2016w9:45wAM
DATEwMODIFIED: 7/19/2016w9:45wAM
QUESTIONwID: JFND-GO3A-EW4R-GQNB



QUESTIONwGLOBALwID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN8-
KC5R-CF1U-NA31-GHSU-OATA-8RSU-OA3Z-GOSU-QQMR-GCSU-1ATU-CO5G-NA3U-E7JI-YT4D-JFNN-4OTI-GO4W-NQN

,2.wThewaccountingwequationwiswexpressedwaswfollows:wAssetsw=wLiabilitiesw+wStockholders'wEquity.

a. True
b. False



ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONwTYPE: Truew/wFalse
HASwVARIABLES: False
LEARNINGwOBJECTIVES: SACC.WARR.18.2-1w-wLO:w02.01
NATIONALwSTANDARDS: UnitedwStatesw-wBUSPROG:wAnalytic
STATEwSTANDARDS: UnitedwStatesw-wDISC:w-wACBSP:wAPC-06w-
wRecordingwTransactions

UnitedwStatesw-wAKw-wDISC:wAICPA:wFN-Measurement
KEYWORDS: Bloom's:wRemembering
DATEwCREATED: 7/19/2016w9:45wAM
DATEwMODIFIED: 7/19/2016w9:45wAM
QUESTIONwID: JFND-GO3A-EW4R-GQB3



QUESTIONwGLOBALwID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN8-
CE5U-NATI-GBTD-OCB1-CRSU-EATI-8RSS-RP3T-GOSU-QA33-GHSS-G3UR-GRHU-CA3Z-E7JI-YT4D-JFNN-4OTI-GO4W-N




3.wAnywgivenwtransactionwmustwaffectwatwleastwtwowdifferentwpartswofwthewaccountingwequation.

, a. True
b. False



ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTIONwTYPE: Truew/wFalse
HASwVARIABLES: False
LEARNINGwOBJECTIVES: SACC.WARR.18.2-1w-wLO:w02.01
NATIONALwSTANDARDS: UnitedwStatesw-wBUSPROG:wAnalytic
STATEwSTANDARDS: UnitedwStatesw-wDISC:w-wACBSP:wAPC-06w-
wRecordingwTransactions

UnitedwStatesw-wAKw-wDISC:wAICPA:wFN-Measurement
KEYWORDS: Bloom's:wUnderstanding
DATEwCREATED: 7/19/2016w9:45wAM
DATEwMODIFIED: 7/19/2016w9:45wAM
QUESTIONwID: JFND-GO3A-EW4R-GQBA



QUESTIONwGLOBALwID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN8-
CCT3-GA5G-EPJW-CASU-GQJU-CESU-YAMR-GOSU-OQDR-GOSS-NCBT-8YAD-1C5D-E7JI-YT4D-JFNN-4OTI-GO4W-NQN




4.wThewaccountingwequationwcanwbewexpressedwas:wAssetsw−wLiabilitiesw=wRevenues.

a. True
b. False

, ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTIONwTYPE: Truew/wFalse
HASwVARIABLES: False
LEARNINGwOBJECTIVES: SACC.WARR.18.2-1w-wLO:w02.01
NATIONALwSTANDARDS: UnitedwStatesw-wBUSPROG:wAnalytic
STATEwSTANDARDS: UnitedwStatesw-wDISC:w-wACBSP:wAPC-06w-
wRecordingwTransactions

UnitedwStatesw-wAKw-wDISC:wAICPA:wFN-Measurement
KEYWORDS: Bloom's:wRemembering
DATEwCREATED: 7/19/2016w9:45wAM
DATEwMODIFIED: 11/2/2016w4:53wAM
QUESTIONwID: JFND-GO3A-EW4R-GQNG



QUESTIONwGLOBALwID: GCID-E7BW-1TBP-CE4U-KPTI-8R4D-CQB1-GY5N-4A3W-COHN-4PTT-CE4N-4AUF-CC5N-4PUG-CJ1U-RCJZ-GTDI-GWN8-
8RAU-OATZ-GTTU-GPUG-CRSU-NCDN-8RSS-CPTA-GOSU-13TU-CWSU-YPTS-CWHU-EPUD-E7JI-YT4D-JFNN-4OTI-GO4




5.wOnwawstatementwofwcashwflows,weachwcashwtransactionwiswrecordedwandwclassifiedwaswanwoperating,winvesting,worwfinancingwactivity.

a. True
b. False