ACCOUNTING STANDARDS CODIFICATION:
INTRODUCING GAAP RESEARCH TO ACCOUNTING STUDENTS
PART 1 INTRODUCTION
Because of the previous nature of U.S. generally accepted accounting principles
(GAAP) with its multiple, scattered sources and various formats, accoun
1. (TCO C) Under current accounting practice, intangible assets are classified as (Points: 5)
amortizable or unamortizable.
limited-life or indefinite-life.
specifically identifiable or goodwill-type.
legally restricted or goodwill-type.
2. (TCO C) Which
Intermediate Accounting II
Practice Test, Chapter 11
Identify the letter of the choice that best completes the statement or answers the question.
1. Stock warrants outstanding should be classified as
Chapter 09 - Property Acquisition and Cost Recovery
Property Acquisition and Cost Recovery
[LO 1] Explain the reasoning why the tax laws require the cost of certain assets to be
capitalized and recovered
Problems on Module 5-SE2
by Alfredo Garcia
January 26, 2005
c1.When treasury stock is purchased for more than its par value, Treasury Stock is debited for the purchase price
under which of the following methods?
Cost Method Par Value Method
Chapter 02 - Tax Compliance, the IRS, and Tax Authorities
Tax Compliance, the IRS, and Tax Authorities
(1) [LO1] Name three factors that determine whether a taxpayer is required to file a tax
Practice Questions for Exam III (Time Value of Money and Valuation and
Rates of Return)
Chapter 9 Time Value of Money
1. An amount of money to be received in the future is worth less today than the stated
2. Discounting refers to the growth p
Chapter 13 Current Liabilities and Contingencies
< Learning Objectives >
After studying this chapter, you should be able to:
1. Describe the nature, type, and valuation of current liabilities.
2. Explain the classification issues of short-term debt expect
Chapter 13 Outline on Current Liabilities
Accounting 340: Howard Bunsis
Chapter 13: Liabilities: Fall 2010
Concept of Liabilities
In general, liabilities involve future disbursements of assets or services.
According to the FASB, a liab
What is a corporate charter?
What are the three important rights of owners of a corporation?
What are shareholder resolutions?
Name two rights of preferred stockholders.
Describe the four features that di
ACCT 201 Pre-Quiz #3 (Ch. 5 and 6) - Professor Farina
True / False Questions: Circle True or False.
1. Revenue is not recognized under the realization principle unless the earnings process is complete or
virtually complete and ther
.Under the allowance method of recognizing uncollectible accounts, the entry to write off
an uncollectible account
a. increases the allowance for uncollectible accounts.
b. has no effect on the allowance for uncollectible accounts.
c. has no effect on net