TEST BANK
Intermediate Accounting
David Spiceland
9781264134526 11th Edition
Get 100% authentic test banks with verified
questions / answers and instant access!
,Table of content
Chapter 1: Environment and Theoretical Structure of Financial Accounting
Chapter 2: Review of the Accounting Process
Chapter 3: The Balance Sheet and Financial Disclosures
Chapter 4: The Income Statement, Comprehensive Income, and the Statement of
Cash Flows
Chapter 5: Time Value of Money Concepts
Chapter 6: Revenue Recognition
Chapter 7: Cash and Receivables
Chapter 8: Inventories: Measurement
Chapter 9: Inventories: Additional Issues
Chapter 10: Property, Plant, and Equipment and Intangible Assets: Acquisition
Chapter 11: Property, Plant, and Equipment and Intangible Assets: Utilization and
Disposition
Chapter 12: Investments
Chapter 13: Current Liabilities and Contingencies
Chapter 14: Bonds and Long-Term Notes
Chapter 15: Leases
Chapter 16: Accounting for Income Taxes
Chapter 17: Pensions and Other Postretirement Benefits
Chapter 18: Shareholders’ Equity
Chapter 19: Share-Based Compensation and Earnings per Share
Chapter 20: Accounting Changes and Error Corrections
Chapter 21: The Statement of Cash Flows Revisited
,Test Bank For
Intermediate Accounting, 11th Edition by David Spiceland, Mark
Nelson, Wayne Thomas, Jennifer Chapter 1-21
Answers Are At the End of Each Chapter
Chapter 1
Student name:__________
1) Listed below are five terms followed by a list of phrases that describe or characterize
each of the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Predictive value Information is useful in ____
projecting cash flows.
2. Relevance Pertinent to the decision at ____
hand.
3. Distribution to Information is available prior ____
owners to the decision.
4. Confirmatory Decrease in equity due to ____
value transfers to owners.
5. Timeliness Information confirms ____
expectations.
Question Details
Topic : Conceptual framework--Purpose
Difficulty : 2 Medium
Topic : Concepts--Qualitative characteristics
Topic : Concepts--Elements of financial statements
Topic : GAAP--Underlying assumptions
Learning Objective : 01-06 Explain the purpose of the conceptual framework.
Learning Objective : 01-08 Describe the four basic assumptions underlying GAAP.
Bloom's : Understand
AACSB : Reflective Thinking
AICPA : FN Measurement
AICPA : BB Critical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Type : Static
Learning Objective : 01-07 Identify the objective and qualitative characteristics of financial report
Gradable : manual
Version 1 1
, 2) Listed below are five terms followed by a list of phrases that describe or characterize
each of the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Gain Along with relevance, a ____
fundamental decision-specific
quality.
2. Materiality Results if an asset is sold for ____
more than book value.
3. Completeness Contains all information ____
necessary for faithful
representation.
4. Comprehensive The change in equity from ____
income nonowner transactions.
5. Faithful Concerns the decision-making ____
representation impact of both the amount and
nature of an item.
Question Details
Topic : Conceptual framework--Purpose
Difficulty : 2 Medium
Topic : Concepts--Qualitative characteristics
Topic : Concepts--Elements of financial statements
Learning Objective : 01-06 Explain the purpose of the conceptual framework.
Bloom's : Understand
AACSB : Reflective Thinking
AICPA : FN Measurement
AICPA : BB Critical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Type : Static
Learning Objective : 01-07 Identify the objective and qualitative characteristics of financial report
Gradable : manual
3) Listed below are five terms followed by a list of phrases that describe or characterize
each of the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Neutrality Important in analysis between ____
Version 1 2
Intermediate Accounting
David Spiceland
9781264134526 11th Edition
Get 100% authentic test banks with verified
questions / answers and instant access!
,Table of content
Chapter 1: Environment and Theoretical Structure of Financial Accounting
Chapter 2: Review of the Accounting Process
Chapter 3: The Balance Sheet and Financial Disclosures
Chapter 4: The Income Statement, Comprehensive Income, and the Statement of
Cash Flows
Chapter 5: Time Value of Money Concepts
Chapter 6: Revenue Recognition
Chapter 7: Cash and Receivables
Chapter 8: Inventories: Measurement
Chapter 9: Inventories: Additional Issues
Chapter 10: Property, Plant, and Equipment and Intangible Assets: Acquisition
Chapter 11: Property, Plant, and Equipment and Intangible Assets: Utilization and
Disposition
Chapter 12: Investments
Chapter 13: Current Liabilities and Contingencies
Chapter 14: Bonds and Long-Term Notes
Chapter 15: Leases
Chapter 16: Accounting for Income Taxes
Chapter 17: Pensions and Other Postretirement Benefits
Chapter 18: Shareholders’ Equity
Chapter 19: Share-Based Compensation and Earnings per Share
Chapter 20: Accounting Changes and Error Corrections
Chapter 21: The Statement of Cash Flows Revisited
,Test Bank For
Intermediate Accounting, 11th Edition by David Spiceland, Mark
Nelson, Wayne Thomas, Jennifer Chapter 1-21
Answers Are At the End of Each Chapter
Chapter 1
Student name:__________
1) Listed below are five terms followed by a list of phrases that describe or characterize
each of the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Predictive value Information is useful in ____
projecting cash flows.
2. Relevance Pertinent to the decision at ____
hand.
3. Distribution to Information is available prior ____
owners to the decision.
4. Confirmatory Decrease in equity due to ____
value transfers to owners.
5. Timeliness Information confirms ____
expectations.
Question Details
Topic : Conceptual framework--Purpose
Difficulty : 2 Medium
Topic : Concepts--Qualitative characteristics
Topic : Concepts--Elements of financial statements
Topic : GAAP--Underlying assumptions
Learning Objective : 01-06 Explain the purpose of the conceptual framework.
Learning Objective : 01-08 Describe the four basic assumptions underlying GAAP.
Bloom's : Understand
AACSB : Reflective Thinking
AICPA : FN Measurement
AICPA : BB Critical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Type : Static
Learning Objective : 01-07 Identify the objective and qualitative characteristics of financial report
Gradable : manual
Version 1 1
, 2) Listed below are five terms followed by a list of phrases that describe or characterize
each of the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Gain Along with relevance, a ____
fundamental decision-specific
quality.
2. Materiality Results if an asset is sold for ____
more than book value.
3. Completeness Contains all information ____
necessary for faithful
representation.
4. Comprehensive The change in equity from ____
income nonowner transactions.
5. Faithful Concerns the decision-making ____
representation impact of both the amount and
nature of an item.
Question Details
Topic : Conceptual framework--Purpose
Difficulty : 2 Medium
Topic : Concepts--Qualitative characteristics
Topic : Concepts--Elements of financial statements
Learning Objective : 01-06 Explain the purpose of the conceptual framework.
Bloom's : Understand
AACSB : Reflective Thinking
AICPA : FN Measurement
AICPA : BB Critical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Type : Static
Learning Objective : 01-07 Identify the objective and qualitative characteristics of financial report
Gradable : manual
3) Listed below are five terms followed by a list of phrases that describe or characterize
each of the terms. Match each phrase with the correct number code for the term.
TERM PHRASE Term number
that matches
the phrase.
1. Neutrality Important in analysis between ____
Version 1 2
