Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword or section
Like this
19Activity
0 of .
Results for:
No results containing your search query
P. 1
ch 5 test kieso

ch 5 test kieso

Ratings:

5.0

(1)
|Views: 12,765|Likes:
Published by m0nisi
test kieso
test kieso

More info:

Published by: m0nisi on Jan 28, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

02/22/2015

pdf

text

original

 
CHAPTER 5
BALANCE SHEET AND STATEMENT OF CASH FLOWS
IFRS questions are available at the end of this chapter.
TRUE-FALSE
—Conceptual
AnswerNo.Description
F1.Liquidity and solvency.T2.Limitations of the balance sheet.T3.Definition of financial flexibility.T4.Long-term liability disclosures.F5.Definitions of the balance sheet.F6. Land held for speculation.T7.Balance sheet format.F8.Purpose of statement of cash flows.F9.Statement of cash flows reporting.T10.Financial flexibility.T11.Collection of a loan.T12.Determining cash provided by operating activities.F13.Reporting significant financing and investing activities.T14.Current cash debt coverage ratio.F15.Reporting other comprehensive income.F16.Disclosure of fair values.F17.Disclosure of company operations and estimates.T18.Disclosure of pertinent information.F19.Use of the term reserve.F20.Adjunct account.
MULTIPLE CHOICE
—Conceptual
AnswerNo.Description
d21.Limitation of the balance sheet.c22.Uses of the balance sheet.b23.Use of balance sheet information.d24.Use of balance sheet information.d25.Limitation of the balance sheet.c
S
26.Uses of the balance sheet.b
S
27.Criticisms of the balance sheet.c
P
28.Definition of liquidity.d29.Definition of net assets.b30.Current assets presentation.b31.Operating cycle.d32.Operating cycle.d33.Identification of current asset.d34.Identification of current asset.d35.Identification of current asset.
 
Test Bank for Intermediate Accounting, Fourteenth Edition
d36.Classification of short-term investments.c37.Classification of inventory pledged as security.
MULTIPLE CHOICE
—Conceptual (cont.)
AnswerNo.Description
b38.Identification of long-term investments.d39.Identification of valuation methods.b40.Identification of current liabilities.d41.Definition of working capital.b42.Identification of working capital items.d43.Identification of long-term liabilities.d44.Identification of long-term liabilities.d45.Classification of treasury stock.d46.Disclosures for common stock.d47.Classification of investment in affiliate.c48.Classification of owners' equity.d49.Classification of assets.d
P
50.Identification of contra account.d
S
51.Balance sheet supplementary disclosure.d52.Long-term liabilities' disclosure.b53.Balance sheet supplementary disclosure.c54.Disclosure of contractual situations.d55.Disclosure of accounting policies.d56.Contingency reported in financial statement notes.d57.Methods of disclosure.d58.Disclosure of significant accounting policies.d59.Disclosure of depreciation methods used.d60.Required notes to the financial statements.b61.Identification of generally accepted account titles.c62.Purpose of the statement of cash flows.c
S
63.Statement of cash flows answers.c64.Statement of cash flows reporting.b65.Statement of cash flows objective.d66.Reporting issuance of stock for machine.d67.Identify a financing activity.b68.Classification of cash receipts.b69.Identify a financing activity.c70.Cash flow from operating activities.a71.Identify an investing activity.d72.Preparing the statement of cash flows.b73.Cash debt coverage ratio.b74.Current cash debt coverage ratio.d75.Financial flexibility measure.c76.Calculation of free cash flow.b
S
77.Description of financial flexibility.b
P
78.Cash debt coverage ratio.
P
Note: these questions also appear in the Problem-Solving Survival Guide.
S
Note: these questions also appear in the Study Guide.
5 - 2
 
Balance Sheet and Statement of Cash Flows
MULTIPLE CHOICE
—Computational
AnswerNo.Description
c79.Classifying investments.a80.Identifying intangible assetsb81.Calculate total stockholdersequity.d82.Classifying investments.a83.Identifying intangible assets.b84.Calculate total stockholdersequity.c85.Calculate beginning stockholders’ equity.c86.Calculate ending stockholdersequity.d87.Calculate net income.b88.Calculate ending cash balance.b89.Calculate ending cash balance.a90.Calculate cash provided by operating activities.c91.Cash provided by operating activities.c92.Cash provided by operating activities.a93.Cash debt coverage ratio.b94.Free cash flow.a95.Cash debt coverage ratio.b96.Free cash flow.
MULTIPLE CHOICE
—CPA Adapted
AnswerNo.Description
d 97.Calculate total current assets.d98.Calculate total current assets.a99.Calculate total current liabilities.c100.Calculate retained earnings balance.b101.Calculate current and long-term liabilities.c102.Classification of investing activity.a103.Classification of operating activity.d104.Classification of financing activity.b105.Classification of investing activity.c106.Summary of significant accounting policies.
EXERCISES
ItemDescription
E5-107Definitions.E5-108Terminology.E5-109Current assets.E5-110Account classification.E5-111Valuation of balance sheet items.E5-112Balance sheet classifications.E5-113Balance sheet classifications.E5-114Balance sheet classifications.E5-115Statement of cash flows.E5-116Statement of cash flows ratios.
5 - 3

Activity (19)

You've already reviewed this. Edit your review.
Yassine Hansen liked this
AndrewGorobetz liked this
Donna1217 liked this
Elen Springer liked this
Elen Springer liked this
jcheatwood12 liked this
1 thousand reads
1 hundred reads
Usha Paudel liked this
Airah Cruz liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->