Tuesday, March 17, 2015

31 Free Test Bank for Financial Reporting and Analysis Using Financial Accounting Information 12th Edition by Gibson

Best design extreme understanding and content overarching are typical features of 31 free test bank for Financial Reporting and Analysis Using Financial Accounting Information 12th Edition by Gibson Multiple Choice Questions. Coming from solid financial accounting background, this most widely used financial accounting test bank for free is a thorough explanation for people who come from a non-accounting background as well as professional accountants.It’s really a very readable, very technical, but interesting and enjoyable textbook question bank. If you need to look for a test to support urgently for your exams, this one is a great way for you to learn accounting efficiently and practically. Try out all the following questions and keep level up!
Please visit the link below to get full questions and answers:
Charging off equipment that cost less than $20 would be an example of the application of:
  •  
  •  
  •  
  •  
  •  
The principle that assumes the reader of the financial statements is not interested in the liquidation values is:
  •  
  •  
  •  
  •  
  •  
The Financial Accounting Standards Board has issued statements between:
  •  
  •  
  •  
  •  
  •  
The business being separate and distinct from the owners is an integral part of the:
  •  
  •  
  •  
  •  
  •  
An accounting period that ends when operations are at a low ebb is:
  •  
  •  
  •  
  •  
  •  
Valuing inventory at the lower of cost or market is an application of the:
  •  
  •  
  •  
  •  
  •  
Other than December, the most popular month for fiscal year-end is:
  •  
  •  
  •  
  •  
  •  
The organization that has by federal law the responsibility to adopt auditing standards is the:
  •  
  •  
  •  
  •  
  •  
Understating assets and revenues is justified based on:
  •  
  •  
  •  
  •  
  •  
The comment that “items that are not material may be recorded in the financial statements in the most economical and expedient manner possible” is representative of:
  •  
  •  
  •  
  •  
  •  
The realization principle leads accountants to usually recognize revenue at:
  •  
  •  
  •  
  •  
  •  
The following data relate to Gorr Company for the year ended December 31, 2010. Gorr Company uses the accrual basis. Sales for cash: $200,000; Sales for credit: 220,000; Cost of inventory sold: 180,000; Collections from customers: 300,000; Purchases of inventory on credit: 190,000; Payment for purchases: 180,000; Selling expenses (accrual basis): 50,000; Payment for selling expenses: 60,000. Which of the following represents income for Gorr Company for the year ended December 31, 2010?
  •  
  •  
  •  
  •  
  •  
At the end of the fiscal year, an adjusting entry is made that increases salaries payable and increases salaries expense. This entry is an application of which accounting principle?
  •  
  •  
  •  
  •  
  •  
Which of these measurement attributes is not currently used in practice?
  •  
  •  
  •  
  •  
  •  
The assumption that enables us to prepare periodic statements between the time that a business commences operations and the time it goes out of business is:
  •  
  •  
  •  
  •  
  •  
The following data relate to Falcon Company for the year ended December 31, 2010. Falcon Company uses the cash basis. Sales for cash: $180,000; Sales for credit: 190,000; Cost of inventory sold: 210,000; Collections from customers: 350,000; Purchases of inventory on credit: 200,000; Payment for purchases: 220,000; Selling expenses (accrual basis): 60,000; Payment for selling expenses: 70,000. Which of the following amounts represents income for Falcon Company for the year ended December 31, 2010?
  •  
  •  
  •  
  •  
  •  
Valuing assets at their liquidation values is not consistent with:
  •  
  •  
  •  
  •  
  •  
Accountants provide for inflation using which of the following accounting principles?
  •  
  •  
  •  
  •  
  •  
The accounting principle that assumes that inflation will not take place or will be immaterial is:
  •  
  •  
  •  
  •  
  •  
The Accounting Principles Board issued Opinions between:
  •  
  •  
  •  
  •  
  •  
Which of the following does not relate to The Public Company Accounting Oversight Board (PCAOB)?
  •  
  •  
  •  
  •  
  •  
The most significant current source of generally accepted accounting principles is the:
  •  
  •  
  •  
  •  
  •  
The following data relate to Swift Company for the year ended December 31, 2010. Swift Company uses the accrual basis. Sales on credit: $250,000; Cost of inventory sold on credit: 170,000; Collections from customers: 220,000; Purchase of inventory on credit: 150,000; Payment for purchases: 140,000; Selling expenses (accrual basis):40,000; Payment for selling expenses:45,000. Which of the following amounts represents income for Swift Company for the year ended December 31, 2010?
  •  
  •  
  •  
  •  
  •  
The going concern assumption:
  •  
  •  
  •  
  •  
  •  
By law, the setting of accounting standards is the responsibility of the:
  •  
  •  
  •  
  •  
  •  
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)