TEST BANK FOR INTERMEDIATE ACCOUNTING, 11TH EDITION BY SPICELAND,| NELSON |
THOMAS,| WINCHEL WITH ALL 1-20 CHAPTERS COVERED NEWEST EDITION
TEST BANK
Version 1 1
,Table of contents
1. Environment and Theoretical Structure of Financial Accounting
2. Review of the Accounting Process
3. The Balance Sheet and Financial Disclosures
4. The Income Statement, Comprehensive Income, and the Statement of Cash
Flows
5. Time Value of Money Concepts
6. Revenue Recognition Section 2: Assets
7. Cash and Receivables
8. Inventories: Measurement
9. Inventories: Additional Issue
10. Property, Plant, and Equipment and Intangible Assets: Acquisition
11. Property, Plant, and Equipment and Intangible Assets: Utilization and
Disposition
12. Investments Section 3: Liabilities and Shareholders’ Equity
13. Current Liabilities and Contingencies
14. Bonds and Long-Term Notes
15. Leases
16. Accounting for Income Taxes
17. Pensions and Other Postretirement Benefits
18. Shareholders’ Equity Section 4: Additional Financial Reporting Issues
19. Share-Based Compensation and Earnings per Share
20. Accounting Changes and Error Corrections
21. The Statement of Cash Flows Revisited
Version 1 2
,Full Test Bank For
Intermediate Accounting, 11th Edition
Answer Key
Test Name:
Chapter 1 1)
Term Phrase Term Number
That Matches
The Phrase.
1. Predictive Value Information Is Useful In 1
Projecting Cash Flows.
2. Relevance Pertinent To The Decision At 2
Hand.
3. Distribution To Information Is Available Prior 5
Owners To The Decision.
4. Confirmatory Decrease In Equity Due To 3
Value Transfers To Owners.
5. Timeliness Information Confirms 4
Expectations.
2)
Term Phrase Term Number
That Matches
The Phrase.
1. Gain Along With Relevance, A 5
Fundamental Decision-SpecificQuality.
2. Materiality Results If An Asset Is Sold For 1
More Than Book Value.
3. Completeness Contains All Information 3
Necessary For Faithful
Representation.
4. Comprehensive The Change In Equity From 4
Income Nonowner Transactions.
Version 1 3
, Concerns The Decision-Making 2
5. Faithful Impact Of Both The Amount And
Representation Nature Of An Item.
3)
Term Phrase Term Number
That Matches
The Phrase.
1. Neutrality Important In Analysis BetweenFirms. 2
2. Comparability Accounting Information Should 1
Be Unbiased.
3. Consistency The Decision To Include An 5
Amount In The Financial
Statements.
4. Cost-Effectiveness Applying The Same Accounting 3
Practices Over Time.
5. Recognition Considers The Value Of Using 4
Information Relative To Cost Of Providing
It.
4)
Term Phrase Term Number
That Matches
The Phrase.
1. Monetary Unit Implies Consensus Among 2
Assumption Different Observers.
2. Verifiability Assumes All Transactions Can Be Identified 3
With A Particular
Entity.
3. Economic Entity Assumes An Entity Will ContinueTo 4
Assumption Operate Indefinitely.
4. Going Concern Requires Reporting The 5
Assumption Financial Life Of An Entity InDiscrete
Time Frames.
5. Periodicity Ignores The Possibility Of Inflation. 1
Assumption
5)
Version 1 4
THOMAS,| WINCHEL WITH ALL 1-20 CHAPTERS COVERED NEWEST EDITION
TEST BANK
Version 1 1
,Table of contents
1. Environment and Theoretical Structure of Financial Accounting
2. Review of the Accounting Process
3. The Balance Sheet and Financial Disclosures
4. The Income Statement, Comprehensive Income, and the Statement of Cash
Flows
5. Time Value of Money Concepts
6. Revenue Recognition Section 2: Assets
7. Cash and Receivables
8. Inventories: Measurement
9. Inventories: Additional Issue
10. Property, Plant, and Equipment and Intangible Assets: Acquisition
11. Property, Plant, and Equipment and Intangible Assets: Utilization and
Disposition
12. Investments Section 3: Liabilities and Shareholders’ Equity
13. Current Liabilities and Contingencies
14. Bonds and Long-Term Notes
15. Leases
16. Accounting for Income Taxes
17. Pensions and Other Postretirement Benefits
18. Shareholders’ Equity Section 4: Additional Financial Reporting Issues
19. Share-Based Compensation and Earnings per Share
20. Accounting Changes and Error Corrections
21. The Statement of Cash Flows Revisited
Version 1 2
,Full Test Bank For
Intermediate Accounting, 11th Edition
Answer Key
Test Name:
Chapter 1 1)
Term Phrase Term Number
That Matches
The Phrase.
1. Predictive Value Information Is Useful In 1
Projecting Cash Flows.
2. Relevance Pertinent To The Decision At 2
Hand.
3. Distribution To Information Is Available Prior 5
Owners To The Decision.
4. Confirmatory Decrease In Equity Due To 3
Value Transfers To Owners.
5. Timeliness Information Confirms 4
Expectations.
2)
Term Phrase Term Number
That Matches
The Phrase.
1. Gain Along With Relevance, A 5
Fundamental Decision-SpecificQuality.
2. Materiality Results If An Asset Is Sold For 1
More Than Book Value.
3. Completeness Contains All Information 3
Necessary For Faithful
Representation.
4. Comprehensive The Change In Equity From 4
Income Nonowner Transactions.
Version 1 3
, Concerns The Decision-Making 2
5. Faithful Impact Of Both The Amount And
Representation Nature Of An Item.
3)
Term Phrase Term Number
That Matches
The Phrase.
1. Neutrality Important In Analysis BetweenFirms. 2
2. Comparability Accounting Information Should 1
Be Unbiased.
3. Consistency The Decision To Include An 5
Amount In The Financial
Statements.
4. Cost-Effectiveness Applying The Same Accounting 3
Practices Over Time.
5. Recognition Considers The Value Of Using 4
Information Relative To Cost Of Providing
It.
4)
Term Phrase Term Number
That Matches
The Phrase.
1. Monetary Unit Implies Consensus Among 2
Assumption Different Observers.
2. Verifiability Assumes All Transactions Can Be Identified 3
With A Particular
Entity.
3. Economic Entity Assumes An Entity Will ContinueTo 4
Assumption Operate Indefinitely.
4. Going Concern Requires Reporting The 5
Assumption Financial Life Of An Entity InDiscrete
Time Frames.
5. Periodicity Ignores The Possibility Of Inflation. 1
Assumption
5)
Version 1 4
