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Aicpa bb industry aicpa fn decision making difficulty

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AICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: P2135. Financial statements are typically prepared in the following order:A. Balance sheet, statement of owner's equity, income statement.B. Statement of owner's equity, balance sheet, income statement.C. Income statement, balance sheet, statement of owner's equity.D. Income statement, statement of owner's equity, balance sheet.E. Balance sheet, income statement, statement of owner's equity.AICPA BB: IndustryLearning Objective: P3136. A balance sheet that places the assets above the liabilities and equity iscalled a(n):A. Report form balance sheet.
B. Account form balance sheet.C. Classified balance sheet.D. Unadjusted balance sheet.E. Unclassified balance sheet.AICPA BB: IndustryDifficulty: MediumLearning Objective: P3137. A balance sheet that places the liabilities and equity to the right of theassets is a(n):A. Account form balance sheet.B. Report form balance sheet.C. Interim balance sheet.D. Classified balance sheet.E. Unclassified balance sheet.AICPA BB: IndustryDifficulty: MediumLearning Objective: P3138. Under the alternative method for accounting for unearned revenue, which ofthe following pairs of journal entry formats is correct?A. Choice AB. Choice BC. Choice CD. Choice DE. Choice EAACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: MediumLearning Objective: P4139. Under the alternative method for recording prepaid expenses, which is thecorrect set of journal entries?A. Choice AB. Choice BC. Choice CD. Choice DE. Choice EAACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: MediumLearning Objective: P4
Matching Questions140. Match the following terms the appropriate definition.1. Depreciation expenseThe accounting system that recognizesrevenues when earned and expenses when incurred.62. Time period principleThe accounting system where revenues arerecognized when cash is received and expenses are recorded when cash is paid.73. Profit marginItems paid for in advance of receiving their benefits.84. Matching principleNet income divided by net sales.35. Accrued revenuesThe expense created by allocating the cost of plantand equipment to the periods in which they are used.16. Accrual basis accountingAllocates equal amounts of an asset's cost(less any salvage value) to depreciation expense during its useful life.97. Cash basis accountingA principle that assumes that anorganization's activities can be divided into specific time periods such asmonths, quarters, or years.28. Prepaid expensesThe principle that requires expenses to be reportedin the same period as the revenues that were earned as a result of the expenses.49. Straight-line depreciationRevenues earned in a period that areboth unrecorded and not yet received in cash or other assets.5AICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: A2Learning Objective: C2Learning Objective: P1Learning Objective: P2141. Match the following terms with the appropriate definition.

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Term
Spring
Professor
hungdc
Tags
Test, The Land, Dividend

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