chap012_1 - Chapter 12: Investments Chapter 12 Test Planner...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 12: Investments Chapter 12 Test Planner Learning Level 1: Knows terms and facts Learning Level 2: Understands principles and concepts Learning Level 3: Applies principles and concepts Learning Objective 1: Explain how to identify and account for investments classified for reporting purposes as held to maturity. 1, 7, 41*, 46*, 53 32*, 56, 61 , 131 100 , 115, 116 Learning Objective 2: Explain how to identify and account for investments classified for reporting purposes as available for sale. 4, 5, 6, 16*, 23*, 33*, 47*, 52*, 54, 57, 58, 67 19*, 35*, 38*, 60, 62, 64, 65, 66, 68, 69, 75, 83 , 129 85, 87, 89, 90, 92, 97, 98, 99, 103, 104, 105, 106, 113, 119, 120, 121, 122, 123, 124, 125, 126 Learning Objective 3: Explain how to identify and account for investments classified for reporting purposes as trading securities. 2, 3, 8, 25*, 26*, 34*, 44*, 55, 59, 70, 71, 73 9, 36*, 42*, 72, 74 , 128 84, 86, 88, 91, 107, 114, 118, 135 Learning Objective 4: Explain what constitutes significant influence by the investor over the operating and financial policies of the investee. 13*, 14*, 15*, 17*, 18*, 24*, 28*, 29*, 30*, 50*, 51*, 76, 77 20*, 21*, 22*, 31*, 130, 133, 134 96 , 127 Learning Objective 5: Understand the way investments are recorded and reported under the equity method. 10, 11, 12, 27*, 78, 79 37*, 39*, 40*, 43*, 45*, 49*, 63, 81, 82, 132 94, 95, 108, 109, 110, 112 Learning Objective 6: Explain the adjustments made in the equity method when the fair value of the net assets underlying an investment exceeds their book value at acquisition. 48* 80 93, 101, 102, 111, 117 Key for Test Planner Question Number Coding: T/F   Matching*    MC    Problems    Essay Spiceland/Sepe/Tomassini Page 143
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Chapter 12: Investments True/False Questions 1. T F Securities classified as held to maturity could be reported as either current or long-term on a classified balance sheet, depending upon their maturity dates. Answer: True 2. T F Both debt and equity securities can be categorized as trading securities. Answer: True 3. T F Both trading securities and securities available for sale are reported at their fair values. Answer: True 4. T F Unrealized gains and losses on investments reported on the income statement create timing differences between pretax accounting income and taxable income. Answer: True 5. T F All securities considered available for sale should be reported as current assets in a classified balance sheet. Answer: False 6. T F Purchases and sales of securities are always reported as investing activities on a statement of cash flows. Answer: False 6. T F All investments in debt securities whose fair values are not readily determinable are carried at Intermediate Accounting, 3e Page 144
Background image of page 2
Chapter 12: Investments historical cost. Answer: False
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 62

chap012_1 - Chapter 12: Investments Chapter 12 Test Planner...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online