TEST BANK For Intermediate Accounting, 11th Edition By David Spiceland, Mark Nelson, Wayne Thomas and Jennifer

Test Bank For Intermediate Accounting,
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11th Edition
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by David Spiceland, Mark Nelson, Wayne Thomas, Jennifer
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Version 1
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,Answer Key g




Test name: chapter
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TERM PHRASE Term
gnumbergthat
gmatchesgthe
gphrase.

1. gPredictive gva lue Information gis guseful gin 1
projecting gcash gflows.
2. gRelevance Pertinent gto gthe gdecision gat 2
hand.
3. gDistribution to Information gis gavailable gprior 5
owners to gthe gdecision.
4. gConfirmatory Decrease gin gequity gdue 3
value gtog
transfers gto gowners.
5. gTimeliness Information gconfirms 4
expectations.
2)
TERM PHRASE Term
gnumberg that
gmatches

the gphrase.
1. gGain Along gwith grelevance, ga 5
fundamental gdecision-
specificgquality.
2. gMateriality Results gif gan gasset gis gsold for 1
more gthan gbook gvalue.
3. gCompleteness Contains gall ginformation 3
necessary gfor gfaithful
representation.
4. gComprehensive The gchange gin gequity gfrom 4
income nonowner gtransactions.




Version 2
g1

, 5. gFaithful Concerns gthe gdecision-making 2
grepresentatio impact gof gboth gthe gamount
n gandg
nature gof gan gitem.


3)
TERM PHRASE Term
gnumbergthat
gmatchesgthe
gphrase.

1. Neutrality Important gin ganalysis gbetween 2
firms.
2. Comparability Accounting ginformation gshould 1
be gunbiased.
3. Consistency The gdecision gto ginclude gan 5
amount gin gthe
gfinancialgstatements.
4. Cost-effectiveness g Applying gthe gsame gaccounting 3
practices gover gtime.
5. Recognition Considers gthe gvalue gof gusing 4
information grelative gto gcost
gofg
providing git.
4)
TERM PHRASE Term
gnumbergthat
gmatchesgthe
gphrase.

1. Monetary Implies gconsensus gamong 2
gunitg
assumption different gobservers.
2. Verifiability Assumes gall gtransactions gcan gbe 3
identified gwith ga
gparticulargentity.
3. Economic Assumes gan gentity gwill gcontinue 4
gentityg
assumption to goperate gindefinitely.
4. Going Requires greporting gthe 5
gconcerngassumpti financial glife gof gan gentity
on ging
discrete gtime gframes.
Ignores gthe gpossibility gof 1
5. Periodicityg inflation.
assumption
5)
TERM PHRASE Term gnumber

Version 3
g1

, that gmatches
the gphrase.
1. gHistorical cost Basis gof gmeasurement gfor gfixed 1




Version 4
g1