Tuesday, March 17, 2015

77 Free Test Bank for Financial Accounting An Introduction to Concepts Methods and Uses 13th Edition by Stickney

Self-study problems to financial accounting are resolved thoroughly with 77 free test bank for Financial Accounting An Introduction to Concepts Methods and Uses 13th Edition by Stickney Multiple Choice Questions. We provide interesting accounting questions with whippy and actual examples to help you fully understand the concepts for financial accounting. Moreover, the material presented in a straightforward manner with key financial accounting questions and corresponding reference answers for 100% free. Honestly, that’s the best solution for students to triumph over financial accounting difficulties in the daily learning process.
Please visit the link below to get full questions and answers:
Broke Inc is experiencing a cash flow problem finding that its cash decreases, even though net income increases. Which of the following is a possible reason?
  •  
  •  
  •  
  •  
  •  
The balance sheet of Allhear, a communications firm, for the year ended December 31, 2009, showed current assets of $20 million, current liabilities of $16 million, shareholders’ equity of $17 million, and noncurrent assets of $29 million. Compute the amount of noncurrent liabilities on Allhear’s balance sheet at the end of 2009.
  •  
  •  
  •  
  •  
  •  
A _____ item is expected to result in a cash receipt or a cash payment within approximately one year or less.
  •  
  •  
  •  
  •  
  •  
The _____ is the private-sector financial accounting standard setter in the U.S., but has no enforcement powers.
  •  
  •  
  •  
  •  
  •  
The _____ report changes in assets and liabilities over a period of time, similar to a motion picture.
  •  
  •  
  •  
  •  
  •  
The _____ shows the relation between net income and cash flows from operations, and changes in assets and liabilities that involve cash flows.
  •  
  •  
  •  
  •  
  •  
The statement of cash flows for Goal Corporation, a U.S. retailer, for the year ended February 2, 2009 (fiscal 2008), showed a net cash inflow from operations of $4,100 million, a net cash outflow for investing of $6,200 million, and a net cash inflow for financing of $3,700 million. The balance sheet at February 3, 2008, showed a balance in cash of $800 million.. Compute the amount of cash on the balance sheet at February 2, 2009.
  •  
  •  
  •  
  •  
  •  
Which of the following is true regarding the investing activities of charitable organizations?
  •  
  •  
  •  
  •  
  •  
The balance sheet of Old Gold Mines for the year ended June 30, 2009, showed a balance in retained earnings of $6,000 million at the end of 2009 and $4,600 million at the end of 2008. Net income for 2009 was $2,400, million. Compute the amount of dividends Old Gold Mines declared during 2009.
  •  
  •  
  •  
  •  
  •  
An income statement connects two successive _____ through its effect on retained earnings.
  •  
  •  
  •  
  •  
  •  
Most firms report the amounts in their financial statements using _____.
  •  
  •  
  •  
  •  
  •  
Which of the following is not true regarding the operations of a charitable organization?
  •  
  •  
  •  
  •  
  •  
The purpose of the conceptual framework developed by the Financial Accounting Standards Board (FASB) is to guide?
  •  
  •  
  •  
  •  
  •  
Who evaluates the accounting system, including its ability to record transactions properly and its operational effectiveness, and also determines whether the financial reports prepared conform to the requirements of the applicable authoritative guidance?
  •  
  •  
  •  
  •  
  •  
The balance sheet of Copper Industries, a producer of copper, showed retained earnings of $26,000 million at March 31, 2008. At March 31, 2009, the balance in retained earnings was $70,500 million . Copper declared dividends during the year ended March 31, 2009, of $3,500 million . Compute Copper’s net income for the year ended March 31, 2009 (fiscal 2008).
  •  
  •  
  •  
  •  
  •  
Who provides an opinion that reflects their professional conclusions regarding the financial statements and for most publicly traded firms in the U.S. also provides a separate opinion on the effectiveness of the firm’s internal controls over financial reporting?
  •  
  •  
  •  
  •  
  •  
_____ must be used by U.S. Securities and Exchange Commission (SEC) registrants.
  •  
  •  
  •  
  •  
  •  
The balance sheet of Old Gold Mines, a gold mining company, for the year ended June 30, 2009, showed current assets of $6 million, noncurrent assets of $49 million, noncurrent liabilities of $14 million, and current liabilities of $4 million. Compute the amount of shareholders’ equity on Old Gold Mines’ balance sheet at the end of 2009.
  •  
  •  
  •  
  •  
  •  
Investments in long-lived assets, with useful lives (or service lives) that can extend for several or many years such as land, buildings, and equipment represent _____ capital.
  •  
  •  
  •  
  •  
  •  
The number of days between when the employees and suppliers provide goods and services and when the firm pays cash to those employees and suppliers is called the _____ period.
  •  
  •  
  •  
  •  
  •  
Net income that is not paid to shareholders as dividends increases _____.
  •  
  •  
  •  
  •  
  •  
Which of the following are true regarding setting goals and strategies for a charitable organization?
  •  
  •  
  •  
  •  
  •  
A _____ year ends on a date that is determined by the firm, perhaps based on its business model (for example, many retailers choose the end of January).
  •  
  •  
  •  
  •  
  •  
_____ represent amounts owed by customers for goods and services they have already received. The customer, therefore, has the benefit of the goods and services before it pays cash.
  •  
  •  
  •  
  •  
  •  
_____ is a private-sector financial accounting standard setter that promulgates accounting standards that are required or permitted to be used in over 100 countries, but has no enforcement powers.
  •  
  •  
  •  
  •  
  •  
_____ reflect values at the balance sheet date, so they reflect that day’s economic conditions.
  •  
  •  
  •  
  •  
  •  
The _____ matches revenues with the costs associated with earning those revenues and is not sensitive to the timing of expenditures.
  •  
  •  
  •  
  •  
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)