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,TEST BANK
Intermediate
Financial
Accounting
Part 1A
ZEUS VERNON B. MILLAN
, ALL RIGHTS RESERVED
2015
No part of this work covered by the
copyright hereon may be reproduced or
used in any form or by any means -
electronic or mechanical, including
photocopying – without the written
permission of the author.
ISBN 978-621-95096-0-2
Published by:
BANDOLIN ENTERPRISE
No. 100 Montebello Village, Bakakeng Sur, Baguio City 2600, Philippines
, TABLE OF CONTENTS
CHAPTER 1
OVERVIEW OF ACCOUNTING ............................................................................ 1
CHAPTER 1: THEORY OF ACCOUNTS REVIEWER ........................................................... 1
CHAPTER 1 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........... 27
CHAPTER 2
THE ACCOUNTING PROCESS ........................................................................... 28
CHAPTER 2: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 28
CHAPTER 2: THEORY OF ACCOUNTS REVIEWER ......................................................... 31
CHAPTER 2 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........... 45
CHAPTER 3
THE CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING ......... 46
CHAPTER 3: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 46
CHAPTER 3: THEORY OF ACCOUNTS REVIEWER ......................................................... 47
CHAPTER 3 - SUGGESTED ANSWERS TO REVIEW THEORY QUESTIONS...................... 71
CHAPTER 4
CASH & CASH EQUIVALENTS ........................................................................... 72
CHAPTER 4: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 72
CHAPTER 4: THEORY OF ACCOUNTS REVIEWER ......................................................... 76
CHAPTER 4 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........... 87
CHAPTER 5
RECEIVABLES (PART 1) .................................................................................... 88
CHAPTER 5: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 88
CHAPTER 5: THEORY OF ACCOUNTS REVIEWER ......................................................... 92
CHAPTER 5 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 100
CHAPTER 6
RECEIVABLES (PART 2) .................................................................................. 101
CHAPTER 6: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
............................................................................................................... 101
CHAPTER 6: THEORY OF ACCOUNTS REVIEWER ...................................................... 105
CHAPTER 6 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 110
CHAPTER 7
RECEIVABLES (PART 3) .................................................................................. 111
CHAPTER 7: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
............................................................................................................... 111
CHAPTER 7: THEORY OF ACCOUNTS REVIEWER ...................................................... 114
CHAPTER 7 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 125
CHAPTER 8
INVENTORIES ..................................................................................................... 126
CHAPTER 8: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
............................................................................................................... 126
CHAPTER 8: THEORY OF ACCOUNTS REVIEWER ...................................................... 132
CHAPTER 8 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 149
,TEST BANK
Intermediate
Financial
Accounting
Part 1A
ZEUS VERNON B. MILLAN
, ALL RIGHTS RESERVED
2015
No part of this work covered by the
copyright hereon may be reproduced or
used in any form or by any means -
electronic or mechanical, including
photocopying – without the written
permission of the author.
ISBN 978-621-95096-0-2
Published by:
BANDOLIN ENTERPRISE
No. 100 Montebello Village, Bakakeng Sur, Baguio City 2600, Philippines
, TABLE OF CONTENTS
CHAPTER 1
OVERVIEW OF ACCOUNTING ............................................................................ 1
CHAPTER 1: THEORY OF ACCOUNTS REVIEWER ........................................................... 1
CHAPTER 1 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........... 27
CHAPTER 2
THE ACCOUNTING PROCESS ........................................................................... 28
CHAPTER 2: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 28
CHAPTER 2: THEORY OF ACCOUNTS REVIEWER ......................................................... 31
CHAPTER 2 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........... 45
CHAPTER 3
THE CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING ......... 46
CHAPTER 3: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 46
CHAPTER 3: THEORY OF ACCOUNTS REVIEWER ......................................................... 47
CHAPTER 3 - SUGGESTED ANSWERS TO REVIEW THEORY QUESTIONS...................... 71
CHAPTER 4
CASH & CASH EQUIVALENTS ........................................................................... 72
CHAPTER 4: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 72
CHAPTER 4: THEORY OF ACCOUNTS REVIEWER ......................................................... 76
CHAPTER 4 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........... 87
CHAPTER 5
RECEIVABLES (PART 1) .................................................................................... 88
CHAPTER 5: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
................................................................................................................. 88
CHAPTER 5: THEORY OF ACCOUNTS REVIEWER ......................................................... 92
CHAPTER 5 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 100
CHAPTER 6
RECEIVABLES (PART 2) .................................................................................. 101
CHAPTER 6: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
............................................................................................................... 101
CHAPTER 6: THEORY OF ACCOUNTS REVIEWER ...................................................... 105
CHAPTER 6 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 110
CHAPTER 7
RECEIVABLES (PART 3) .................................................................................. 111
CHAPTER 7: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
............................................................................................................... 111
CHAPTER 7: THEORY OF ACCOUNTS REVIEWER ...................................................... 114
CHAPTER 7 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 125
CHAPTER 8
INVENTORIES ..................................................................................................... 126
CHAPTER 8: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
............................................................................................................... 126
CHAPTER 8: THEORY OF ACCOUNTS REVIEWER ...................................................... 132
CHAPTER 8 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS ........ 149
