[英语学习]intermediate acct test bank ch13.doc
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1、CHAPTER 13 CURRENT LIABILITIES AND CONTINGENCIES IFRS questions are available at the end of this chapter. TRUE-FALSEConceptual AnswerNo.Description F1.Zero-interest-bearing note payable. F2.Dividends in arrears. T3.Examples of unearned revenues. T4.Reporting discount on Notes Payable. F5.Currently m
2、aturing long-term debt. F6.Excluding short-term debt refinanced. T7.Accounting for sales tax collected. F8.Accounting for sick pay. T9.Social security taxes as liabilities. F10.Definition of accumulation rights. T11.Recognizing compensated absences expense. F12.Accruing estimated loss contingency. T
3、13.Disclosing gain contingencies. F14.Sales-type warranty profit. T15.Fair value of asset retirement obligation. T16.Reporting a litigation liability. F17.Expense warranty approach. F18.Acid-test ratio components. F19.Affect on current ratio. T20.Reporting current liabilities. MULTIPLE CHOICEConcept
4、ual AnswerNo.Description d21.Definition of a liability. d22.Nature of current liabilities. a23.Recording of accounts payable. a24.Classification of notes payable. b25.Classification of discounts on notes payable. d26.Identify current liability. c27.Bonds reported as current liability. d28.Identify i
5、tem which is not a current liability. c29.Dividends reported as current liability. d30.Classification of stock dividends distributable. c31.Identify item which is not a current liability. d32.Identify current liability. c33.Characteristic of current liability. d34.Definition of a liability. b35.Impo
6、rtance of liability section of balance sheet. a36.Current liabilities and operating cycle. Test Bank for Intermediate Accounting, Fourteenth Edition13 - 2 MULTIPLE CHOICEConceptual (cont.) AnswerNo.Description a37.Present value and concept of a liability. c38.Zero-interest-bearing notes payable. d39
7、.Callable debt reporting. d40.Condition to exclude short-term obligation. a41.Ability to consummate refinancing of short-term debt. b42.Disclosure of preferred dividends not declared. c43.Example of unearned revenue. d44.Short-term obligations expected to be refinanced. d45.Ability to consummate ref
8、inancing of short-term obligations. d46.Determine what is a liability. a47.Classification of sales taxes. d S48. Disclosure for short-term debt refinanced. b S49. Vested rights vs. accumulated rights. d P50. Deductions in computing net pay. d51.Employers payroll tax expense. d52.Accrual of a liabili
9、ty for compensated absences. c53.Accrual of a liability for compensated absences. d54.Accrual of a liability for compensated absences. d55.Compensated absences. d56.Requirements for compensated absences accrual. b57.Condition for sick pay accrual. c58.Payroll tax deduction. d59.Definition of a conti
10、ngency. b60.Recording contingent liability. a61.Example of contingent liability. d62.Recording contingent liability. d63.Disclosure of a gain contingency. d64.Disclosure of contingencies. b65.Accrual of loss contingency. a66.Litigation and loss contingencies. c67.Accrual of a contingent liability. d
11、68.Source of a contingent liability. b69.Asset retirement obligation. c70.Asset retirement obligation. c71.Classification of warranty liability. c72.Liability accrual due to governmental action. a73.Accrual of product warranties. b P74. Determining loss amount to report. d S75. Reporting lawsuit los
12、s and liability. d S76. Accrual method for warranty costs. c77.Accrual warranty method. d78.Cash-basis warranty method. a79.Characteristic of expense warranty approach. b80.Accounting for discount coupon. a81.Condition to recognize asset retirement obligation. b82.Recording liability for pending lit
13、igation. d83.Computation of acid-test ratio. c84.Current ratio information. Current Liabilities and Contingencies13 - 3 MULTIPLE CHOICEConceptual (cont.) AnswerNo.Description c S85. Presentation of current liabilities. a P86. Current ratio formula. d87.Disclosure of accrued liabilities. d88.Acid-tes
14、t ratio elements. d89.Items included in current ratio and acid-test ratio. P These questions also appear in the Problem-Solving Survival Guide. S These questions also appear in the Study Guide. MULTIPLE CHOICEComputational AnswerNo.Description b90.Adjusting entry involving discount on short-term not
15、e payable. d91.Calculate effective interest on discounted note. a92.Calculate cost of inventory purchase. d93.Calculate interest expense. b94.Calculate interest expense. c95.Reporting 5-year note in financial statements. b96.Calculate unearned revenue. d97.Calculate amount of sales tax payable. b98.
16、Determine amount of short-term debt to be reported. d99.Determine amount of short-term debt to be reported. b100.Calculate sales taxes for the month. b101.Calculate amount of sales taxes payable. c102.Determine amount of sales subject to sales tax. a103.Short-term debt to be excluded. a104.Short-ter
17、m debt to be excluded. d105.Federal/state unemployment taxes. d106.Federal/state unemployment taxes. c107.Vacation liability accrual. c108.Vacation liability accrual. c109.Calculate payroll tax expense. d110.Calculation of vacation expense to be recognized. a111.Calculation of accrued liability to b
18、e recognized for compensated balances. d112.Effect of payroll taxes on assets / liabilities. a113.Record vacation liability accrual. b114.Record loss contingency amount. d115.Record asset retirement obligation. d116.Calculate extended warranty contract profit. c117.Calculate warranty liability. b118
19、.Calculate rebate expense and liability. d119.Asset retirement obligation. a120.Calculate insurance expense and loss. b121.Calculate rebate expense and liability. d122.Asset retirement obligation. d123.Calculate warranty liability. Test Bank for Intermediate Accounting, Fourteenth Edition13 - 4 MULT
20、IPLE CHOICEComputational (cont.) AnswerNo.Description b124.Calculate liability for premiums. d125.Calculate warranty liability. b126.Calculate liability for premiums. d127.Determine premiums expense for the year. d128.Calculate estimated liability for premiums. d129.Calculate estimated liability for
21、 premiums. b130.Determine amount to accrue as a loss contingency. d131.Accrue warranty expense for the year. a132.Calculate warranty liability. d133.Determine amount to accrue as a gain contingency. b134.Calculate liability for unredeemed coupons. c135.Calculate the quick (acid-test) ratio. MULTIPLE
22、 CHOICECPA Adapted AnswerNo.Description a136.Knowledge of accounts payable. b137.Determine current and long-term portions of debt. c138.Determine accrued interest payable. d139.Determine amount of short-term debt to be reported. a140.Calculate accrued salaries payable. d141.Accrual of payroll taxes.
23、 b142.Calculate unearned service contract revenue. c143.Determine liability from unredeemed trading stamps. d144.Determine range of loss accrual. d145.Calculate the estimated warranty liability. c146.Disclosure of a casualty claim. EXERCISES ItemDescription E13-147Notes payable. E13-148Payroll entri
24、es. E13-149Compensated absences. E13-150Contingent liabilities. E13-151Premiums. E13-152Premiums. PROBLEMS ItemDescription P13-153Accounts and notes payable. P13-154Refinancing of short-term debt. P13-155Premiums. P13-156Warranties. Current Liabilities and Contingencies13 - 5 CHAPTER LEARNING OBJECT
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