Test Bank for Intermediate Accounting: Reporting and Analysis 4th Edition by Wahle
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Chapter 1 Tr bgkr bgkr
ue / False
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1. A problem arising from equal information is called information asymmetry.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.1 - LO: 1.1
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
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LOCAL STANDARDS: bgkrUnited States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
2. The demand for relevant and reliable financial information stems from the needs of the internal and
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external stakeholders. bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / Falsebgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.1 - LO: 1.1
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
3. The mission of the Securities and Exchange Commission is to protect investors, maintain fair, orderly, and
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efficient markets, and assist in the formation of capital.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.2 - LO: 1.2
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
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LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
Page 1 bgkr
,Chapter bgkr
1
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
4. The SEC uses its authority to establish accounting standards, while also enforcing regulations on com
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panies, exchanges, and investors.
bgkr bgkr bgkr
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.2 - LO: 1.2
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkrUnited States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
5. The Financial Accounting Standards Board (FASB) began in 1973 after the AICPA phased out the Acc
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ounting Principles Board (APB).
bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.3 - LO: 1.3
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkrUnited States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
6. FASB’s Emerging Issues Task Force assists and advises the FASB by identifying and addressing timely b
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ut more narrow and specific standard setting issues.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
Page 2
bgkr
,Chapter bgkr
1
LEARNING OBJECTIVES: bgkr ACCT.WAHL.24.1.3 - LO: 1.3
b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: bgkr b g United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:
bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
7. The Codification is set up as a system of levels starting with sections, topics, and subtopics.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.4 - LO: 1.4
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
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LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:
bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
8. The Codification was established to assist in reducing the time necessary to research an accounting issue and
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improve the ability to utilize accounting information that conforms with GAAP.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.4 - LO: 1.4
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
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LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:
bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
9. A potential issue facing the convergence project is that many companies have entered into contracts based u
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pon U.S. GAAP financial reporting; many of these contracts will have to be renegotiated using IFRS which pote
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ntially could cause some companies more harm than good.
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a. True
b. False
ANSWER: True
POINTS: 1
Page 3 bgkr
, Chapter bgkr
1
DIFFICULTY: Easy
QUESTION TYPE: bgkr True / False bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: bgkr ACCT.WAHL.24.1.5 - LO: 1.5
b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: bgkr b g United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
10. The balance sheet is a snapshot of a company’s financial position at a particular date.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.6 - LO: 1.6
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
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LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
11. The statement of shareholders' equity reports the effects from the recognition or valuation of certain asset or
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liability transactions that change Accumulated Other Comprehensive Income.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.6 - LO: 1.6
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
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LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
12. ―In carrying out their responsibilities as professionals, members should exercise sensitive professional and
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moral judgments in all their activities.‖ This is the Integrity Principle of the AICPA Code of Professional
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Conduct.
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a. True
Page 4 bgkr
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
Chapter 1 Tr bgkr bgkr
ue / False
bgkr bgkr
1. A problem arising from equal information is called information asymmetry.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.1 - LO: 1.1
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkrUnited States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
2. The demand for relevant and reliable financial information stems from the needs of the internal and
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
external stakeholders. bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / Falsebgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.1 - LO: 1.1
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
3. The mission of the Securities and Exchange Commission is to protect investors, maintain fair, orderly, and
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
efficient markets, and assist in the formation of capital.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.2 - LO: 1.2
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
Page 1 bgkr
,Chapter bgkr
1
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
4. The SEC uses its authority to establish accounting standards, while also enforcing regulations on com
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
panies, exchanges, and investors.
bgkr bgkr bgkr
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.2 - LO: 1.2
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkrUnited States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
5. The Financial Accounting Standards Board (FASB) began in 1973 after the AICPA phased out the Acc
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
ounting Principles Board (APB).
bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.3 - LO: 1.3
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkrUnited States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED: bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED: bgkr 4/14/2023 11:31 AM bgkr bgkr
6. FASB’s Emerging Issues Task Force assists and advises the FASB by identifying and addressing timely b
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
ut more narrow and specific standard setting issues.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
Page 2
bgkr
,Chapter bgkr
1
LEARNING OBJECTIVES: bgkr ACCT.WAHL.24.1.3 - LO: 1.3
b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: bgkr b g United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:
bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
7. The Codification is set up as a system of levels starting with sections, topics, and subtopics.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.4 - LO: 1.4
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:
bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
8. The Codification was established to assist in reducing the time necessary to research an accounting issue and
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
improve the ability to utilize accounting information that conforms with GAAP.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.4 - LO: 1.4
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:
bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
9. A potential issue facing the convergence project is that many companies have entered into contracts based u
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pon U.S. GAAP financial reporting; many of these contracts will have to be renegotiated using IFRS which pote
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ntially could cause some companies more harm than good.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
Page 3 bgkr
, Chapter bgkr
1
DIFFICULTY: Easy
QUESTION TYPE: bgkr True / False bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: bgkr ACCT.WAHL.24.1.5 - LO: 1.5
b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: bgkr b g United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
10. The balance sheet is a snapshot of a company’s financial position at a particular date.
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.6 - LO: 1.6
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
11. The statement of shareholders' equity reports the effects from the recognition or valuation of certain asset or
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr b
liability transactions that change Accumulated Other Comprehensive Income.
gkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
bgkr bgkr bgkr
HAS VARIABLES:
bgkr False
LEARNING OBJECTIVES: ACCT.WAHL.24.1.6 - LO: 1.6
bgkr b g k r bgkr bgkr bgkr
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: FN: Reflective Thinking
bgkr b g k r bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
LOCAL STANDARDS: bgkr United States - OH - Default City - AICPA: FN-Decision Modeling bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr
KEYWORDS: Bloom's: Remember bgkr
DATE CREATED:bgkr 8/27/2018 10:46 AM bgkr bgkr
DATE MODIFIED:
bgkr 4/14/2023 11:31 AM bgkr bgkr
12. ―In carrying out their responsibilities as professionals, members should exercise sensitive professional and
bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr bgkr b
moral judgments in all their activities.‖ This is the Integrity Principle of the AICPA Code of Professional
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Conduct.
gkr
a. True
Page 4 bgkr
