kieso15e_testbank_ch04
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kieso15e_testbank_ch04

Course: ACC 300, Fall 2013

School: CSB-SJU

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CHAPTER 4 INCOME STATEMENT AND RELATED INFORMATION IFRS questions are available at the end of this chapter. TRUE-FALSEConceptual Answer T F F T T T T F T F T F F T T F T T F T No. Description 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Usefulness of the income statement. Limitations of the income statement. Earnings management. Transaction approach of income measurement. Single-step...

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CHAPTER 4 INCOME STATEMENT AND RELATED INFORMATION IFRS questions are available at the end of this chapter. TRUE-FALSE Conceptual Answer No. Description T 1. Usefulness of the income statement. F 2. Limitations of the income statement. F 3. Earnings management. T 4. Transaction approach of income measurement. T 5. Single-step income statement. T 6. Revenues and gains. T 7. Income from continuing operations. F 8. Multiple-step income statement. T 9. Multiple-step vs. single-step income statement. F 10. Current operating performance approach. T 11. Reporting discontinued operations. F 12. Reporting extraordinary items. F 13. Irregular items. T 14. Intraperiod tax allocation. T 15. Reporting earnings per share. F 16. Computation of earnings per share. T 17. Prior period adjustments. T 18. Retained earnings restrictions. F 19. Comprehensive income definition. T 20. Reporting other comprehensive income. MULTIPLE CHOICE Conceptual Answer No. Description c 21. Elements of the income statement. d 22. Usefulness of the income statement. b 23. Limitations of the income statement. d S 24. Use of an income statement. d S 25. Income statement reporting. b 26. Usefulness of income statement. b 27. Example of managing earnings down. c 28. Example of managing earnings up. b 29. Improving current net income. a 30. Decreasing current net income. d 31. Single-step income statement advantage. b 32. Single-step income statement. d 33. Methods of preparing income statements. a 34. Income statement presentation. b 35. Event with no income statement effect. Test Bank for Intermediate Accounting, Fifteenth Edition c S 36. Event with no income statement effect. MULTIPLE CHOICE Conceptual (cont.) Answer No. Description b P 37. Selling expenses. b P 38. Reporting merchandise inventory. a 39. Definition of an extraordinary item. c 40. Accounting for changes in estimates. d 41. Identification of an extraordinary item. a 42. Identification of an extraordinary item. d 43. Identification of an extraordinary item. a 44. Presentation of unusual or infrequent items. a 45. Reporting of a change in accounting principle. d 46. Classification of extraordinary items. c 47. EPS disclosures on income statement. c 48. Reporting discontinued operations. c S 49. Reporting unusual or infrequent items. d 50. Intraperiod tax allocation. d 51. Purpose of intraperiod tax allocation. c 52. Intraperiod tax allocation. d 53. Reporting items net of tax. d 54. Reporting items at gross amount. c 55. Earnings per share disclosure. b 56. EPS and preferred dividends. d 57. EPS disclosures on income statement. c S 58. Earnings per share disclosure. d P 59. Reporting correction of an error. c 60. Retained earnings statement.

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ve been. My mother was as stay at home mom, she was always there, and always in mybusiness. It was difficult to see where she was coming from because I felt that she did notunderstand me as well as my peers 
CSB-SJU - ACC - 300
CHAPTER 6ACCOUNTING AND THE TIME VALUE OF MONEYIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFTFTTFFTTTFFFTTTFTFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19
UC Davis - ARE - 143
1!"#$%&'($)*+,-./$012234)56/.$#7/,$$8*69$)*+,-./$:;<#($=6.2>$*312+?5>2$>3/329@$/>-,2$56$A*69$B+5C56D$,$E$FG$!.>*@$HI$E$5JK!"L$/69$K!"$5>$3MB5C/.M$N%@OOOG$$F<IPFK!"K8$$3F<% Q<R P F% Q<R P F3%$$K8IF%Q<R P F%K!"SQ<R P FTS% SQ<R P F
CSB-SJU - ACC - 300
CHAPTER 9INVENTORIES: ADDITIONAL VALUATION ISSUESIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerTFFTFTTFFTFTFTFFTFTTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 18Corporate BondsProblem 1:What are some of the advantages and disadvantages of owning convertible bonds?Convertible bonds limit downside risk
CSB-SJU - ACC - 300
CHAPTER 7CASH AND RECEIVABLESIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerTFFFFTFFTTTFFTFTFFTFTFFTFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEYChapter 5Problem 1:If you were to visit your local car retailer, there is both a primary and secondary market in action.Explain. Is the car retailer a d
CSB-SJU - ACC - 300
CHAPTER 11DEPRECIATION, IMPAIRMENTS, AND DEPLETIONIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerTFTTFFTFFTTFTFTTFTFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEYChapter 6Time Value of MoneyProblem 1:(a)One Year Future Value What is the future value of $400 deposited for one year earning aninterest rate of 11
CSB-SJU - ACC - 300
CHAPTER 8VALUATION OF INVENTORIES:A COST-BASIS APPROACHIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerTFTFTTFTFTTFFTTFFTFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.1
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 6Common Stock ValuationProblem 1:World-Tour Co. has just now paid a dividend of $2.83 per share; the dividends are expected to grow at aconstan
CSB-SJU - ACC - 300
CHAPTER 12INTANGIBLE ASSETSIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFFTFTFTFTTFTFTTTFFFFFFFTFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 19Government BondsPBC21YTM / 21(YTM / 2)(1 (YTM / 2)PAR2T1YTM / 22TProblem 1:What is the price of a STRIPS with a maturity of 20 y
UC Davis - ARE - 143
JOURNAL OF ECONOMICS AND FINANCE Volume 25 Number 2 Summer 2001181The Day of the Week Effecton Stock Market VolatilityHakan Berument and Halil Kiymaz *AbstractThis study tests the presence of the day of the week effecton stock market volatility by
CSB-SJU - ACC - 300
CHAPTER 13CURRENT LIABILITIES AND CONTINGENCIESIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFFTTTTTFTFTFTFTTFFFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 4Mutual FundsProblem 1:Given that no-load funds are widely available, why would a rational investor pay a front-end load? Moregenerally, why
CSB-SJU - ACC - 300
CHAPTER 15STOCKHOLDERS EQUITYIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerTFTFTFTFFTFTTFFTTFFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.State a corp
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 7Stock Price Behavior and Market EfficiencyProblem 1:True, false, and explain. The questions all pertain to the efficient-markets hypothesis.(a
CSB-SJU - ACC - 300
CHAPTER 14LONG-TERM LIABILITIESIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerTFTFFTFFFTTFTTTTFFFFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.*19.*20.Bond int
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 8Behavioral FinanceNOTE: Charting/Technical Analysis terms from Chapter 8 you do NOT need to know: Arms,Relative Strength Charts, Open-High-Low-
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 9Interest RatesProblem 1:A stock had a return of 12.2 percent last year. If the inflation rate was 4.3 percent, then what was theapproximate re
CSB-SJU - ACC - 300
CHAPTER 16DILUTIVE SECURITIES AND EARNINGS PER SHAREIFRS questions are available at the end of this chapter.TRUE-FALSEDilutive SecuritiesConceptualAnswerTFTFFTFTFTFFTFTFT.F.TFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.
UC Davis - ARE - 143
1Managerial Economics (ARE) 143University of California, DavisInstructor: John H. ConstantineKEY Chapter 10Bond Prices and YieldsNOTE: You should be able to do the bond questions on a financial calculator.The answers in the KEY were written severa
CSB-SJU - ACC - 300
CHAPTER 10ACQUISITION AND DISPOSITION OFPROPERTY, PLANT, AND EQUIPMENTIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFTFTFTFFFTTTTFFTTFFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13
UC Davis - ARE - 143
Name:_KEY_Last 4 digits of your Student ID Number:_Managerial Economics (ARE) 143University of California, Davis, Winter 2012Dr. John H ConstantineMidterm 1, Friday, February 3, 201290 TOTAL POINTS1Part I: Multiple Choice (40 total points; each qu
CSB-SJU - ACC - 300
CHAPTER 18REVENUE RECOGNITIONIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFTTFTFTTFFTFFTFFTTFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.Recognition
UC Davis - ARE - 143
Name:_Last 4 digits of your Student ID Number:_Managerial Economics (ARE) 143University of California, Davis, Winter 2011Dr. John H ConstantineMidterm 2, Friday, March 4, 201190 TOTAL POINTSFOR ALL BONDS, ASSUME SEMI-ANNUAL COMPOUNDING.1Part I: M
CSB-SJU - ACC - 300
CHAPTER 19ACCOUNTING FOR INCOME TAXESIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFFTTFTFTFTFTTFFTTTFFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.Taxa
CSB-SJU - ACC - 300
CHAPTER 17INVESTMENTSIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFTFFTFTFTTFTFTFTFTFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.*20.Examples of debt se
UC Davis - ARE - 143
1Managerial Economics (ARE) 144University of California, DavisInstructor: John H. ConstantineKEY Handout: Chapter 8, Underwriting and Financing Residential Properties(1)What is the legislative intent of federal truth-in-lending disclosures, and what
CSB-SJU - ACC - 300
CHAPTER 21ACCOUNTING FOR LEASESIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerTFFTFFTFFTFFTFTFTFTTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.Benefits o
UC Davis - ARE - 143
1Managerial Economics (ARE) 144University of California, DavisInstructor: John H. ConstantineKEY Handout: Chapter 10, Valuation of Income Properties: Appraisal and the Market forCapitalFixed Problems 8 and 10.(1)What is the economic rationale for
CSB-SJU - ACC - 300
CHAPTER 23STATEMENT OF CASH FLOWSIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFTTFTFTFFTFTFFTFTTFTNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.Primary
CSB-SJU - ACC - 300
CHAPTER 24FULL DISCLOSURE IN FINANCIAL REPORTINGIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFTTFFTFTFTFTFTFTFTTFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.1
UC Davis - ARE - 143
Name:_Last 4 digits of your Student ID Number:_Managerial Economics (ARE) 144University of California, Davis, Spring 2011Dr. John H ConstantineMidterm 1, Friday, April 22, 2011100 TOTAL POINTS1Part I: Multiple Choice (45 total points; each questio
CSB-SJU - ACC - 300
CHAPTER 22ACCOUNTING CHANGES AND ERROR ANALYSISTRUE-FALSEConceptualAnswerFTFTFTTTFTFFTFTTTFTFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.*20.Change in accounting estimate.Errors in financial
UC Davis - ARE - 143
Name:_UPDATED KEY_Last 4 digits of your Student ID Number:_Managerial Economics (ARE) 144University of California, Davis, Spring 2011Dr. John H ConstantineMidterm 2, Friday, May 13, 2011100 TOTAL POINTS1Part I: Multiple Choice (24 total points; ea
CSB-SJU - ACC - 300
CHAPTER 20ACCOUNTING FOR PENSIONSAND POSTRETIREMENT BENEFITSIFRS questions are available at the end of this chapter.TRUE-FALSEConceptualAnswerFTFTTFFTFTFFTFTFTFTFNo.Description1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.
CSB-SJU - ACC - 300
CHAPTER 1 COVERAGE OF LEARNING OBJECTIVESFUNDACRITICAL MENTAL THINKING ASSIGNEXERCISES MENT AND MATERIAL EXERCISES A1, B1 A3 33 37, 38 CASES, EXCEL, COLLAB., & PROBLEMS INTERNET EXERCISES 39, 40, 42 55 47, 49, 40 41, 43 51, 55LEARNING OBJECTIVE LO1: Des
CSB-SJU - ACC - 300
CHAPTER 5 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL CRITICAL THINKING EXERCISES AND EXERCISES 23,30,37,38 CASES, EXCEL, COLLAB. & INTERNET EXERCISES 66LEARNING OBJECTIVE LO1: Discriminate between relevant and irrelevant information
CSB-SJU - ACC - 300
CHAPTER 2 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNLEARNING OBJECTIVE MENT MATERIA L A1, B1 A1, B1, A2, A3, B2, B3 A2, A3, B2, B3 CRITICAL THINKING EXERCISE S AND EXERCISE S CASES, NIKE 10K, EXCEL, COLLAB., PROBLEM & S INTERNET EXERCISES 41, 43,
CSB-SJU - ACC - 300
CHAPTER 6 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL CRITICAL THINKING EXERCISES AND EXERCISES 24,27,28,29, 30,31, 42,44 CASES, EXCEL, COLLAB. & INTERNET EXERCISESLEARNING OBJECTIVE LO1: Use a differential analysis to examine income
CSB-SJU - ACC - 300
CHAPTER 8 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL A1 A1, CRITICAL THINKING EXERCISES AND EXERCISES CASES, EXCEL, COLLAB., & INTERNET PROBLEMS EXERCISESLEARNING OBJECTIVE LO1: Distinguish between flexible budgets and static budgets
CSB-SJU - ACC - 300
CHAPTER 7 COVERAGE OF LEARNING OBJECTIVESLEARNING OBJECTIVE LO1: Explain how budgets facilitate planning and coordination. LO2: Anticipate possible human relations problems caused by budgets. LO3: Explain potentially dysfunctional incentives in the budge
CSB-SJU - ACC - 300
CHAPTER 10 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL LEARNING OBJECTIVE LO1: Define decentralization and identify its expected benefits and costs. LO2: Distinguish between responsibility centers and decentralization. LO3: Explain how the linking of rewa
CSB-SJU - ACC - 300
CHAPTER 9 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL CRITICAL THINKING EXERCISES AND EXERCISES 28, 30, 36 28 CASES, EXCEL, COLLAB., & INTERNET EXERCISES 50, 52, 53, 54LEARNING OBJECTIVE LO1: Describe the relationship of management co
CSB-SJU - ACC - 300
CHAPTER 3 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL CRITICAL THINKING EXERCISE S AND EXERCISE S 26, 30, 31, 32 27, 37 CASES, NIKE 10K, EXCEL, COLLAB., PROBLEM & S INTERNET EXERCISES 43,44,48,55 59, 61, 62 43 56, 60LEARNING OBJECTIVE
CSB-SJU - ACC - 300
CHAPTER 15 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL ADDITIONAL ASSIGNMENT MATERIAL 19, 20, 25, 30 36 22, 23, 26, 27 28, 29, 30, 31 36, 37 21, 36 EXCEL, COLLAB., & INTERNET EXERCISES 43 41, 42LEARNING OBJECTIVE LO1: Read and interpr
CSB-SJU - ACC - 300
CHAPTER 14 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL A1,B1 CRITICAL THINKING EXERCISES AND EXERCISES 16,18,20,29 22,25 CASES, NIKE 10K, EXCEL, COLLAB. & INTERNET EXERCISES 49,51,52LEARNING OBJECTIVE LO1: Distinguish between job-orde
CSB-SJU - ACC - 300
CHAPTER 11 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL A1, A2, B1 B2 CRITICAL THINKING EXERCISES AND EXERCISES 26, 29, 30 31, 32, 33 34, 35, 36 37, 38, 39 38, 39 CASES, EXCEL, COLLAB., & INTERNET PROBLEMS EXERCISES 48, 49, 50 65,66, 67
CSB-SJU - ACC - 300
CHAPTER 13 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL A1,B2 CRITICAL THINKING EXERCISES AND EXERCISES 33,34,38,39, 40 CASES, NIKE 10K, EXCEL, COLLAB. & INTERNET EXERCISES 69,73,74LEARNING OBJECTIVE LO1: Compute budgeted factory-overh
CSB-SJU - ACC - 300
CHAPTER 16 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL A1, B1 A1, B1 A1, B1 ADDITIONAL ASSIGNMENT MATERIAL 36, 37, 41, 42 59, 61, 62, 63 42, 60, 61, 62 42, 61, 62 EXCEL, COLLAB., & INTERNET EXERCISES 74, 75 74, 75 74, 75LEARNING OBJEC
CSB-SJU - ACC - 300
CHAPTER 17 COVERAGE OF LEARNING OBJECTIVESEXCEL, FUNDAMENTAL ADDITIONAL COLLAB., ASSIGNMENT ASSIGNMENT & MATERIAL MATERIAL INTERNET EXERCISES A1, B1, B3 26, 29, 40, 41 55 49LEARNING OBJECTIVE LO1: Contrast accounting for investments using the equity met
CSB-SJU - ACC - 300
Determining Profitability byProduct and CustomerAn Extension of Problem 12-A2Panel AExhibit 12-23, L.A. Darlings Product-CostSystemGeneral CostsPower DepartmentPowerOccupancy(Plant)Maintenance DepartmentMWHOSquare FeetODepartmentResources
CSB-SJU - ACC - 300
CONTENTS Page General Comments.v Sample Assignment Schedules.vii Linking of 13th Edition Problems to those in the 14th Edition.xi Comments on Choices of Problems in Each Chapter.xvii Presentation of Solutions in Class.xxv Conducting the Course.xxvi Key Am
CSB-SJU - ACC - 300
MULTIPLE CHOICE1.The term relevant range as used in cost accounting means the range over whicha.b.c.d.costs may fluctuate.cost relationships are valid.production may vary.relevant costs are incurred.ANSWER:2.Total cost reactionto increase in
CSB-SJU - ACC - 300
1.Prepare a Schedule of Cost of Goods Manufactured (in good form) for the BullsCompany from the following information for June 2001:InventoriesRaw MaterialWork in ProcessFinished GoodsBeginning$ 6,70017,70029,730Ending$ 8,90022,65019,990Add
CSB-SJU - ACC - 300
3-21(10 min.) CVP analysis, income taxes.1. Monthly fixed costs = $60,000 + $70,000 + $10,000 =Contribution margin per unit = $26,000 $22,000 $500 =Breakeven units per month = = =2. Tax rateTarget net incomeTarget operating income ==70 cars3-.$1
CSB-SJU - ACC - 300
5-20(1015 min.) ABC, process costing.Note to instructors: The number of production runs for the financial calculator should be50 and not 0. Please announce this change to your students before assigning this problem.Rates per unit cost driver.Activity
CSB-SJU - ACC - 300
6-17(5 min.)Sales and production budget.Budgeted sales in unitsAdd target ending finished goods inventoryTotal requirementsDeduct beginning finished goods inventoryUnits to be produced6-18(5 min.)200,00025,000225,00015,000210,000Direct mate
CSB-SJU - ACC - 300
CHAPTER 12 COVERAGE OF LEARNING OBJECTIVESFUNDAMENTAL ASSIGNMENT MATERIAL A2 B1 CRITICAL THINKING EXERCISES AND EXERCISES CASES, NIKE 10K, EXCEL, COLLAB. & INTERNET EXERCISESLEARNING OBJECTIVE LO1: Describe the general framework for cost allocation. LO2