Ch 21 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1. In a statement of cash flows, increases or decreases in noncurrent assets are most clos
Ch 20 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1. If a lease qualifies as a capital lease, which of the following combinations of payment
Ch 19 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_A_ 1. An Internal Revenue Code rule that impacts the design of pension plans is
a. employee c
Ch 18 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1. Which of the following is not a timing difference that would cause pretax financial acc
Ch 17 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1. The importance the economic substance of an event taking precedence over the legal form
Ch 9 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
C_ 1. Under current standards of the FASB, liabilities include
a. only legal obligations
b. bot
Ch 15 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1. The corporate form of organization is important to the U.S. economy because
a. there ar
Ch 14 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1. Leverage occurs when a companys
a. interest payment exceed its rate of return
b. rate o
Ch 13 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1. Investments in debt and equity securities that are held for current resale by banks and
Ch 8 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_A_ 1. The most common approach to implementing the lower of cost or market rule for inventory
Ch 12 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_A_ 1. Intangible assets are initially recorded at
a. cost
b. expected future value
c. expecte
Ch 11 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_A_ 1. Which one of the following statements is not true?
a. Depreciation is the process of al
Ch 10 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1. Alternative terms for property, plant, and equipment include all of the following excep
Ch 7 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1. A retail firm would normally use an inventory account titled
a. finished goods inventory
Ch 5 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_D_ 1. Who is the income statement designed to inform?
a. creditors
b. investors
c. lenders
d.
Ch 6 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_C_ 1. Which of the following would be included in cash and cash equivalents on the balance she
Ch 4 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_A_ 1. Which statement is false?
a. The balance sheet of an entity purports to show the true va
Ch 2 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_B_ 1. Which of the following statements is not true with regard to the benefits derived from t
Ch 1 Quiz
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_D_ 1. Creditors' information needs revolve around all of the following decisions, except
a. ex