TEST BANK FOR ACCOUNTING PRINCIPLES 12TH EDITION WEYGANDT
TEST BANK
TEST BANK FOR ACCOUNTING PRINCIPLES
12TH EDITION WEYGANDT
,TEST BANK FOR ACCOUNTING PRINCIPLES 12TH EDITION WEYGANDT
CHAPTER 2
THE RECORDING PROCESS
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S
TAXONOMY
Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT
True-False Statements
1. 1 K 9. 1 K 17. 2 K 25. 3 K 33. 2 K
2. 1 K 10. 1 K 18. 2 K 26. 3 C 34. 3 K
3. 1 K 11. 1 K 19. 2 K 27. 3 K 35. 3 C
4. 1 K 12. 1 K 20. 2 K 28. 3 K 36. 4 K
5. 1 K 13. 1 K 21. 2 K 29. 3 K 37. 4 K
6. 1 K 14. 1 K 22. 2 K 30. 4 K
7. 1 K 15. 2 K 23. 2 K 31. 1 K
8. 1 K 16. 2 K 24. 2 K 32. 1 K
Multiple Choice Questions
38. 1 K 63. 1 C 88. 2 K 113. 3 K 138. 4 C
39. 1 K 64. 1 C 89. 2 K 114. 3 K 139. 1 K
st
40. 1 K 65. 1 K 90. 2 K 115. 3 C 140. 1 K
41. 1 C 66. 1 K 91. 2 K 116. 3 K 141. 1 K
st
42. 1 K 67. 1 K 92. 2 C 117. 3 K 142. 1 K
43. 1 K 68. 1 K 93. 2 K 118. 2 AP 143. 1 K
st
44. 1 K 69. 1 K 94. 2 K 119. 3 K 144. 2 K
45. 1 K 70. 1 C 95. 2 K 120. 3 K 145. 2 K
46. 1 K 71. 1 K 96. 2 K 121. 3 K 146. 2 K
47. 1 K 72. 1 K 97. 2 K 122. 3 K 147. 2 C
st
48. 1 K 73. 1 K 98. 2 K 123. 3 K 148. 3 K
49. 1 K 74. 1 C 99. 2 K 124. 3 K 149. 3 K
st
50. 1 K 75. 1 K 100. 2 K 125. 3 K 150. 4 K
51. 1 K 76. 1 K 101. 2 K 126. 3 K 151. 4 C
52. 1 K 77. 1 C 102. 2 K 127. 3 K 152. 5 K
53. 1 K 78. 1 AP 103. 2 K 128. 3 K 153. 5 K
54. 1 C 79. 1 AP 104. 2 C 129. 3 K 154. 5 K
55. 1 C 80. 1 AP 105. 2 K 130. 3 K 155. 5 K
56. 1 C 81. 2 AP 106. 2 K 131. 3 K 156. 5 K
57. 1 K 82. 1 AP 107. 2 K 132. 4 K 157. 5 K
58. 1 K 83. 1 AP 108. 2 K 133. 4 C 158. 5 K
59. 1 K 84. 1 C 109. 2 C 134. 4 K
60. 1 K 85. 1 AP 110. 2 AN 135. 4 C
61. 1 K 86. 1 AP 111. 3 K 136. 4 K
62. 1 K 87. 2 K 112. 3 K 137. 4 K
Brief Exercises
159. 1 AP 162. 2 AP 164. 2 K 166. 3 AP 168. 4 AP
160. 1 C 163. 2 AP 165. 2 AP 167. 3 AP 169. 4 AP
161. 1 K
st
This question also appears in a self-test at the student companion website.
,TEST BANK FOR ACCOUNTING PRINCIPLES 12TH EDITION WEYGANDT
2-2 Test Bank for Accounting Principles, Twelfth Edition
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S
TAXONOMY
Exercises
170. 1 AP 175. 1 C 180. 1 C 185. 4 AP 190. 4 AP
171. 1 C 176. 1 C 181. 2 AP 186. 3 AN 191. 4 AP
172. 1 C 177. 1 C 182. 2 C 187. 3 AP 192. 4 AP
173. 1 C 178. 1 C 183. 2 AP 188. 4 AN 193. 4 AN
174. 1 C 179. 2 AP 184. 3 AP 189. 4 AN
Completion Statements
194. 1 K 196. 1 K 198. 2 K 200. 2 K 202. 3 K
195. 1 K 197. 1 K 199. 2 K 201. 2 K 203. 4 K
Short-Answer Essay
205. 1 C 208. 4 AN 211. 2 C 214. 2, 3 S
206. 1 C 209. 2 S 212. 3 C 215. 1 E
207. 1 S 210. 2 C 213. 3 S 216. 1 S
SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE
Item Type Item Type Item Type Item Type Item Type Item Type Item Type
Learning Objective 1
1. TF 31. TF 50. MC 64. MC 78. MC 160. BE 196. C
2. TF 32. TF 51. MC 65. MC 79. MC 161. BE 197. C
3. TF 38. MC 52. MC 66. MC 80. MC 170. Ex 205. SA
4. TF 39. MC 53. MC 67. MC 82. MC 171. Ex 206. SA
5. TF 40. MC 54. MC 68. MC 83. MC 172. Ex 207. SA
6. TF 41. MC 55. MC 69. MC 84. MC 173. Ex 215. SA
7. TF 42. MC 56. MC 70. MC 85. MC 174. Ex 216. SA
8. TF 43. MC 57. MC 71. MC 86. MC 175. Ex
9. TF 44. MC 58. MC 72. MC 139. MC 176. Ex
10. TF 45. MC 59. MC 73. MC 140. MC 177. Ex
11. TF 46. MC 60. MC 74. MC 141. MC 178. Ex
12. TF 47. MC 61. MC 75. MC 142. MC 180. Ex
13. TF 48. MC 62. MC 76. MC 143. MC 194. C
14. TF 49. MC 63. MC 77. MC 159. BE 195. C
Learning Objective 2
15. TF 24. TF 93. MC 102. MC 118. MC 179. Ex 210. SA
16. TF 33. TF 94. MC 103. MC 144. MC 181. Ex 211. SA
17. TF 81. MC 95. MC 104. MC 145. MC 182. Ex 214. SA
18. TF 87. MC 96. MC 105. MC 146. MC 183. Ex
19. TF 88. MC 97. MC 106. MC 147. MC 198. C
20. TF 89. MC 98. MC 107. MC 162. BE 199. C
21. TF 90. MC 99. MC 108. MC 163. BE 200. C
22. TF 91. MC 100. MC 109. MC 164. BE 201. C
23. TF 92. MC 101. MC 110. MC 165. BE 209. SA
FOR INSTRUCTOR USE ONLY
, TEST BANK FOR ACCOUNTING PRINCIPLES 12TH EDITION WEYGANDT
The Recording Process 2-3
SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE
Learning Objective 3
25. TF 111. MC 119. MC 126. MC 149. MC 212. SA
26. TF 112. MC 120. MC 127. MC 166. BE 213. SA
27. TF 113. MC 121. MC 128. MC 167. BE 214. SA
28. TF 114. MC 122. MC 129. MC 184. Ex
29. TF 115. MC 123. MC 130. MC 186. Ex
34. TF 116. MC 124. MC 131. MC 187. Ex
35. TF 117. MC 125. MC 148. MC 202. C
Learning Objective 4
30. TF 134. MC 150. MC 188. Ex 193. Ex
36. TF 135. MC 151. MC 189. Ex 203. C
37. TF 136. MC 168. BE 190. Ex 208. SA
132. MC 137. MC 169. BE 191. Ex 193. Ex
133. MC 138. MC 185. Ex 192. Ex
Learning Objective 5
152. MC 153. MC 154. MC 155. MC 156. MC 157. MC 158. MC
Note: TF = True-False BE = Brief Exercise C = Completion
MC = Multiple Choice Ex = Exercise SA = Short-Answer Essay
The chapter also contains one set of ten Matching questions and six Short-Answer Essay
questions. A summary table of all learning outcomes, including AACSB, AICPA, and IMA
professional standards, is available on the Weygandt Accounting Principles 12e instructor web
site.
CHAPTER LEARNING OBJECTIVES
1. Describe how accounts, debits, and credits are used to record business transactions .
An account is a record of increases and decreases in specific asset, liability, and owner’s
equity items. The terms debit and credit are synonymous with left and right. Assets, drawings,
and expenses are increased by debits and decreased by credits. Liabilities, owner’s capital,
and revenues are increased by credits and decreased by debits.
2. Indicate how a journal is used in the recording process. The basic steps in the recording
process are (a) analyze each transaction for its effects on the accounts, (b) enter the
transaction information in a journal, and (c) transfer the journal information to the appropriate
accounts in the ledger. The initial accounting record of a transaction is entered in a journal
before the data are entered in the accounts. A journal (a) discloses in one place the complete
effects of a transaction, (b) provides a chronological record of transactions, and (c) prevents
or locates errors because the debit and credit amounts for each entry can be easily
compared.
3. Explain how a ledger and posting help in the recording process. The ledger is the entire
group of accounts maintained by a company. The ledger provides the balance in each of the
accounts as well as keeps track of changes in these balances. Posting is the transfer of
journal entries to the ledger accounts. This phase of the recording process accumulates the
effects of journalized transactions in the individual accounts.
4. Prepare a trial balance. A trial balance is a list of accounts and their balances at a given
time. Its primary purpose is to prove the equality of debits and credits after posting. A trial
balance also uncovers errors in journalizing and posting and is useful in preparing financial
statements.
FOR INSTRUCTOR USE ONLY
TEST BANK
TEST BANK FOR ACCOUNTING PRINCIPLES
12TH EDITION WEYGANDT
,TEST BANK FOR ACCOUNTING PRINCIPLES 12TH EDITION WEYGANDT
CHAPTER 2
THE RECORDING PROCESS
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S
TAXONOMY
Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT
True-False Statements
1. 1 K 9. 1 K 17. 2 K 25. 3 K 33. 2 K
2. 1 K 10. 1 K 18. 2 K 26. 3 C 34. 3 K
3. 1 K 11. 1 K 19. 2 K 27. 3 K 35. 3 C
4. 1 K 12. 1 K 20. 2 K 28. 3 K 36. 4 K
5. 1 K 13. 1 K 21. 2 K 29. 3 K 37. 4 K
6. 1 K 14. 1 K 22. 2 K 30. 4 K
7. 1 K 15. 2 K 23. 2 K 31. 1 K
8. 1 K 16. 2 K 24. 2 K 32. 1 K
Multiple Choice Questions
38. 1 K 63. 1 C 88. 2 K 113. 3 K 138. 4 C
39. 1 K 64. 1 C 89. 2 K 114. 3 K 139. 1 K
st
40. 1 K 65. 1 K 90. 2 K 115. 3 C 140. 1 K
41. 1 C 66. 1 K 91. 2 K 116. 3 K 141. 1 K
st
42. 1 K 67. 1 K 92. 2 C 117. 3 K 142. 1 K
43. 1 K 68. 1 K 93. 2 K 118. 2 AP 143. 1 K
st
44. 1 K 69. 1 K 94. 2 K 119. 3 K 144. 2 K
45. 1 K 70. 1 C 95. 2 K 120. 3 K 145. 2 K
46. 1 K 71. 1 K 96. 2 K 121. 3 K 146. 2 K
47. 1 K 72. 1 K 97. 2 K 122. 3 K 147. 2 C
st
48. 1 K 73. 1 K 98. 2 K 123. 3 K 148. 3 K
49. 1 K 74. 1 C 99. 2 K 124. 3 K 149. 3 K
st
50. 1 K 75. 1 K 100. 2 K 125. 3 K 150. 4 K
51. 1 K 76. 1 K 101. 2 K 126. 3 K 151. 4 C
52. 1 K 77. 1 C 102. 2 K 127. 3 K 152. 5 K
53. 1 K 78. 1 AP 103. 2 K 128. 3 K 153. 5 K
54. 1 C 79. 1 AP 104. 2 C 129. 3 K 154. 5 K
55. 1 C 80. 1 AP 105. 2 K 130. 3 K 155. 5 K
56. 1 C 81. 2 AP 106. 2 K 131. 3 K 156. 5 K
57. 1 K 82. 1 AP 107. 2 K 132. 4 K 157. 5 K
58. 1 K 83. 1 AP 108. 2 K 133. 4 C 158. 5 K
59. 1 K 84. 1 C 109. 2 C 134. 4 K
60. 1 K 85. 1 AP 110. 2 AN 135. 4 C
61. 1 K 86. 1 AP 111. 3 K 136. 4 K
62. 1 K 87. 2 K 112. 3 K 137. 4 K
Brief Exercises
159. 1 AP 162. 2 AP 164. 2 K 166. 3 AP 168. 4 AP
160. 1 C 163. 2 AP 165. 2 AP 167. 3 AP 169. 4 AP
161. 1 K
st
This question also appears in a self-test at the student companion website.
,TEST BANK FOR ACCOUNTING PRINCIPLES 12TH EDITION WEYGANDT
2-2 Test Bank for Accounting Principles, Twelfth Edition
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S
TAXONOMY
Exercises
170. 1 AP 175. 1 C 180. 1 C 185. 4 AP 190. 4 AP
171. 1 C 176. 1 C 181. 2 AP 186. 3 AN 191. 4 AP
172. 1 C 177. 1 C 182. 2 C 187. 3 AP 192. 4 AP
173. 1 C 178. 1 C 183. 2 AP 188. 4 AN 193. 4 AN
174. 1 C 179. 2 AP 184. 3 AP 189. 4 AN
Completion Statements
194. 1 K 196. 1 K 198. 2 K 200. 2 K 202. 3 K
195. 1 K 197. 1 K 199. 2 K 201. 2 K 203. 4 K
Short-Answer Essay
205. 1 C 208. 4 AN 211. 2 C 214. 2, 3 S
206. 1 C 209. 2 S 212. 3 C 215. 1 E
207. 1 S 210. 2 C 213. 3 S 216. 1 S
SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE
Item Type Item Type Item Type Item Type Item Type Item Type Item Type
Learning Objective 1
1. TF 31. TF 50. MC 64. MC 78. MC 160. BE 196. C
2. TF 32. TF 51. MC 65. MC 79. MC 161. BE 197. C
3. TF 38. MC 52. MC 66. MC 80. MC 170. Ex 205. SA
4. TF 39. MC 53. MC 67. MC 82. MC 171. Ex 206. SA
5. TF 40. MC 54. MC 68. MC 83. MC 172. Ex 207. SA
6. TF 41. MC 55. MC 69. MC 84. MC 173. Ex 215. SA
7. TF 42. MC 56. MC 70. MC 85. MC 174. Ex 216. SA
8. TF 43. MC 57. MC 71. MC 86. MC 175. Ex
9. TF 44. MC 58. MC 72. MC 139. MC 176. Ex
10. TF 45. MC 59. MC 73. MC 140. MC 177. Ex
11. TF 46. MC 60. MC 74. MC 141. MC 178. Ex
12. TF 47. MC 61. MC 75. MC 142. MC 180. Ex
13. TF 48. MC 62. MC 76. MC 143. MC 194. C
14. TF 49. MC 63. MC 77. MC 159. BE 195. C
Learning Objective 2
15. TF 24. TF 93. MC 102. MC 118. MC 179. Ex 210. SA
16. TF 33. TF 94. MC 103. MC 144. MC 181. Ex 211. SA
17. TF 81. MC 95. MC 104. MC 145. MC 182. Ex 214. SA
18. TF 87. MC 96. MC 105. MC 146. MC 183. Ex
19. TF 88. MC 97. MC 106. MC 147. MC 198. C
20. TF 89. MC 98. MC 107. MC 162. BE 199. C
21. TF 90. MC 99. MC 108. MC 163. BE 200. C
22. TF 91. MC 100. MC 109. MC 164. BE 201. C
23. TF 92. MC 101. MC 110. MC 165. BE 209. SA
FOR INSTRUCTOR USE ONLY
, TEST BANK FOR ACCOUNTING PRINCIPLES 12TH EDITION WEYGANDT
The Recording Process 2-3
SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE
Learning Objective 3
25. TF 111. MC 119. MC 126. MC 149. MC 212. SA
26. TF 112. MC 120. MC 127. MC 166. BE 213. SA
27. TF 113. MC 121. MC 128. MC 167. BE 214. SA
28. TF 114. MC 122. MC 129. MC 184. Ex
29. TF 115. MC 123. MC 130. MC 186. Ex
34. TF 116. MC 124. MC 131. MC 187. Ex
35. TF 117. MC 125. MC 148. MC 202. C
Learning Objective 4
30. TF 134. MC 150. MC 188. Ex 193. Ex
36. TF 135. MC 151. MC 189. Ex 203. C
37. TF 136. MC 168. BE 190. Ex 208. SA
132. MC 137. MC 169. BE 191. Ex 193. Ex
133. MC 138. MC 185. Ex 192. Ex
Learning Objective 5
152. MC 153. MC 154. MC 155. MC 156. MC 157. MC 158. MC
Note: TF = True-False BE = Brief Exercise C = Completion
MC = Multiple Choice Ex = Exercise SA = Short-Answer Essay
The chapter also contains one set of ten Matching questions and six Short-Answer Essay
questions. A summary table of all learning outcomes, including AACSB, AICPA, and IMA
professional standards, is available on the Weygandt Accounting Principles 12e instructor web
site.
CHAPTER LEARNING OBJECTIVES
1. Describe how accounts, debits, and credits are used to record business transactions .
An account is a record of increases and decreases in specific asset, liability, and owner’s
equity items. The terms debit and credit are synonymous with left and right. Assets, drawings,
and expenses are increased by debits and decreased by credits. Liabilities, owner’s capital,
and revenues are increased by credits and decreased by debits.
2. Indicate how a journal is used in the recording process. The basic steps in the recording
process are (a) analyze each transaction for its effects on the accounts, (b) enter the
transaction information in a journal, and (c) transfer the journal information to the appropriate
accounts in the ledger. The initial accounting record of a transaction is entered in a journal
before the data are entered in the accounts. A journal (a) discloses in one place the complete
effects of a transaction, (b) provides a chronological record of transactions, and (c) prevents
or locates errors because the debit and credit amounts for each entry can be easily
compared.
3. Explain how a ledger and posting help in the recording process. The ledger is the entire
group of accounts maintained by a company. The ledger provides the balance in each of the
accounts as well as keeps track of changes in these balances. Posting is the transfer of
journal entries to the ledger accounts. This phase of the recording process accumulates the
effects of journalized transactions in the individual accounts.
4. Prepare a trial balance. A trial balance is a list of accounts and their balances at a given
time. Its primary purpose is to prove the equality of debits and credits after posting. A trial
balance also uncovers errors in journalizing and posting and is useful in preparing financial
statements.
FOR INSTRUCTOR USE ONLY
