CHAPTER 18
REVENUE RECOGNITION
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
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Recognition
CHAPTER 22
ACCOUNTING CHANGES AND ERROR ANALYSIS
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Change in accounting estimate.
Errors in financial
CHAPTER 21 CAPITAL BUDGETING AND COST ANALYSIS 21-1 No. Capital budgeting focuses on an individual investment project throughout its life, recognizing the time value of money. The life of a project is often longer than a year. Accrual accounting focuses o
P1: PjU
ACPA221-p287-364
ACPA221-SAS-PS.cls
July 16, 2012
18:47
1669
Materiality in Planning and Performing an Audit
AU-C Section 320 *
Materiality in Planning and Performing
an Audit
Source: SAS No. 122.
Effective for audits of nancial statements for per
CHAPTER 23
STATEMENT OF CASH FLOWS
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
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Primary
CHAPTER 17
INVESTMENTS
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
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Examples of debt sec
CHAPTER 19
ACCOUNTING FOR INCOME TAXES
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
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Taxa
CHAPTER 16
DILUTIVE SECURITIES AND EARNINGS PER SHARE
IFRS questions are available at the end of this chapter.
TRUE-FALSEDilutive SecuritiesConceptual
Answer
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CHAPTER 15
STOCKHOLDERS EQUITY
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
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State a corp
CHAPTER 14
LONG-TERM LIABILITIES
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
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Bond int
CHAPTER 5
ACTIVITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT
5-1
Broad averaging (or peanut-butter costing) describes a costing approach that uses broad
averages for assigning (or spreading, as in spreading peanut butter) the cost of resources
uniformly
CHAPTER 21
CAPITAL BUDGETING AND COST ANALYSIS
TRUE/FALSE
1.
Capital budgeting focuses on projects over their entire lives to consider all the cash
flows or cash savings from investing in a single project.
Difficulty:
2.
1
Objective:
2
1
Objective:
2
1
Ob
Also a set % of planning materiality
(usually around 3 to 5%)
this determines the level of misstatement
below which identified misstatements are
essentially ignored on the basis that they
cannot individually (or cumulatively) affect
decisions taken by use