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Test Bank for Survey of Accounting, 3rd Edition by Paul D. Kimmel. Latest Edition 2025

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Test Bank for Survey of Accounting, 3rd Edition by Paul D. Kimmel. Latest Edition 2025

Institution

Managerial Accounting

Module

Managerial Accounting

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Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell Survey of Accounting

Edition:Unknown
ISBN:9781119895688
Edition:Unknown

Written for

Institution: Managerial Accounting
Module: Managerial Accounting

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Uploaded on: January 13, 2026
Number of pages: 2607
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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test bank for survey of accounting 3rd edition by

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1

,Test Bank for Survey of Accounting, 3rd Edition by Paul D.
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Kimmel, Jerry J. Weygandt, Jill E. Mitchell e0 e0 e0 e0 e0 e0

Survey of Accounting, 3e (Kimmel)
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Appendix D Double-Entry Accounting System e0 e0 e0

1) A new account is opened for each transaction entered into by a business fir
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m. Answer: FALSE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

2) The recording process becomes more efficient and informative if all transactions are recorde
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d in one account.
e0 e0 e0

Answer: FALSE e 0 e0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

3) An account consists of two parts: (1) a left or debit side and (2) a right or credit si
e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0

de. Answer: FALSE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

4) For a T- e0 e0

account, an account balance is the difference in total dollars between total debit amounts
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0and total credit amounts.
e0 e0 e0

Answer: TRUE e 0 e0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

2

,5) An account is often referred to as a T-
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account because of the way it is constructed. Answer: TRUE
e0 e0 e0 e0 e0 e0 e0 e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

6) A debit to an account always indicates an increase in that accoun
e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0

t. Answer: FALSE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

7) If a revenue account is credited, the revenue account is increase
e0 e0 e0 e0 e0 e0 e0 e0 e0 e0

d. Answer: TRUE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

8) The normal balance of all accounts is a debit
e0 e0 e0 e0 e0 e0 e0 e0

. Answer: FALSE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

9) Debit and credit can be interpreted to mean "bad" and "good", respectivel
e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0

y. Answer: FALSE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reporting e0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

3

, 10) A credit means that an account has been increased
e0 e0 e0 e0 e0 e0 e0 e0

. Answer: FALSE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reportinge0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

11) A decrease in a liability account is recorded by a debi
e0 e0 e0 e0 e0 e0 e0 e0 e0 e0

t. Answer: TRUE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reportinge0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

12) An increase in an asset is recorded by a debit
e0 e0 e0 e0 e0 e0 e0 e0 e0

. Answer: TRUE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reportinge0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

13) The double- e0

entry system of accounting refers to the placement of a double line at the end of a column of
e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0

figures.
Answer: FALSE e 0 e0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reportinge0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

14) A credit balance in a liability account indicates that an error in recording has occurre
e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0 e0

d. Answer: FALSE
e0 e 0

Diff: 1 e0

LO: 1 e 0 e 0

Bloom: K e 0 e 0

AACSB / IMA: None / Reportinge0 e0 e 0 e 0 e0 e0

AICPA: BB: None; FC: Reporting; PC: None Minu
e 0 e0 e0 e0 e0 e0 e0

tes: 1 e 0

4

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Test Bank for Survey of Accounting, 3rd Edition by Paul D. Kimmel. Latest Edition 2025

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