ACC 405 TEST BANK_INTERMEDIATE FINANCIAL ACCOUNTING PART 1A (2015 EDITION)

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



CHAPTER 9
INVESTMENTS (PART 1)....................................................................150

, CHAPTER 9: THEORY OF ACCOUNTS REVIEWER...........................................153
CHAPTER 9 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS....168
CHAPTER 10
INVESTMENTS (PART 2)....................................................................169
CHAPTER 10: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
..............................................................................................................169
CHAPTER 10: THEORY OF ACCOUNTS REVIEWER........................................175
CHAPTER 10 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS. .185
CHAPTER 11
INVESTMENTS (PART 3)....................................................................186
CHAPTER 11: MULTIPLE CHOICE – COMPUTATIONAL (SET B) – (FOR CLASSROOM INSTRUCTION PURPOSES)
..............................................................................................................186
CHAPTER 11: THEORY OF ACCOUNTS REVIEWER........................................187
CHAPTER 11 - SUGGESTED ANSWERS TO THEORY OF ACCOUNTS QUESTIONS. .188