TEST BANK FOR FINANCIAL ACCOUNTING, 6TH EDITION BY DAVID SPICELAND, WAYNE THOMAS, VERIFIED CHAPTERS 1 - 12, COMPLETE NEWEST VERSION

,DOWNLOAD THE Test Bank for Financial Accounting 6th Edition Spiceland
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Financial Accounting 6th Edition by Spiceland CH01 ff ff ff ff ff ff




ESSAY. Write your answer in the space provided or on a separate sheet of
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paper.
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1) Match each business activity with its example.
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1.A) Purchase office building. f f f f



2.B) Pay utilities.
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3.C) Receive investments from
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stockholders.Operating
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Financing pp



Investing
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2) Match each financial statement with the accounts reported on it:
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1.A) Dividends. ff



2.B) Assets and liabilities.
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3.C) Revenues and
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expenses.Income statement
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Statement of stockholders' ff ff



equityBalance sheet
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3) Match each organization to its role: f f f f f f f f f f



1.A) Ensure that auditors follow strict guidelines when conducting their audits.
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2.B) Independent, private-sector group that is primarily responsible for setting
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financialreporting rules in the United States.
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3.C) Develop a single set of high-quality, understandable global accounting
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standards.
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4.D) Enforce proper application of financial reporting rules for companies
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whose securities are publicly traded.
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Financial Accounting Standards Board f f f f f f


Public Company Accounting Oversight
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BoardInternational Accounting Standards
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Board Securities and Exchange
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Version 1
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,DOWNLOAD THE Test Bank for Financial Accounting 6th Edition Spiceland
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Financial Accounting 6th Edition by Spiceland CH01
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Commission
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Version 2
mynursytest.store

, DOWNLOAD THE Test Bank for Financial Accounting 6th Edition Spiceland
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Financial Accounting 6th Edition by Spiceland CH01
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4) Match each qualitative characteristic with its definition:
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1.A) All information necessary to describe an item is reported.
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2.B) Information provides feedback on past activities.
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3.C) Information is presented in time to make useful decisions.
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4.D) Information is useful in helping to forecast future outcomes.
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5.E) Measurements that independent parties would agree upon.
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6.F) Information that does not bias the decision
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maker.Predictive value
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Confirmatory
valueVerifiability
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Timeliness
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Neutrality
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Completeness
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5) For each transaction, indicate whether a company would classify the related
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f f account as anasset, liability, stockholders' equity, dividend, revenue, or expense.
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Transactions Related Accounts ff



1. Receive cash from investors. ff ff ff Common Stock ff


2. Pay rent for the current period.
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3. Purchase office equipment. ff ff Equipment
4. Pay cash to stockholders.
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5. Provide services to customers. ff ff ff Service Revenue ff




Version 3
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