Name:

Class:

Date:

ID: A

-CIJ45678 SAMPLETEST2
Multiple Choice Identifu the choice that best completesthe statementor answers the question. l. Which one of the following is not a differencebetweena retail business and a servicebusiness? a. in what is sold b. the inclusion of grossprofit in the income statement c. accountingequation d. merchandise inventoryincludedin the balance sheet

2. A companyusing the periodic inventory systemhasthe following accountbalances: Merchandise Inventory at the beginning ofthe year,$3,600;Freight-In, Purchases Returns and $10,700; $650;Purchases, purchased Allowances, Discounts, is equalto $1,950;Purchases $330. The costof merchandise a. $12.670 b. $9.070 c. $8,420 d. $17,230 3. Expenses that are incurred directly or entirely in connectionwith the sale of merchandise are classifiedas a. sellingexpenses b. general expenses c. otherexpenses d. administrativeexpenses 4. Office salaries, depreciationof office equipment,and office suppliesare examplesof what type of expense? a. sellingexpense b. miscellaneousexpense c. administrativeexpense d. otherexpense is deducted 5. The form of income statement that derivesits namefrom the fact that the total of all expenses from the total ofall revenuesis called a a. multiple-stepstatement b. revenuestatement c. report-form statement d. single-stepstatement 6. The inventory systememploying accountingrecordsthat continuouslydisclosethe amountof inventory is called a. retail b. periodic c. physical d. perpetual

Name:

ID: A 7. Usins thefollowins ollowrnglnlormatton, informationwhatrsthe amountof'grossprofit? what Purchases $32.000 Purchases discounts
Merchandise inventory September 1

5,700
910

Sales returns and allowances Purchases returns and allowances

a. b. c. d. 34,870 31,990 27,460 62,090

Merchandise inventory Septernber 30 Sales

$960 6,370 63,000

1,200

Freight In

1,040

8. Using a perpetualinventory system,the entry to recordthe return from a customerof merchandise sold on accountincludesa a. credit to SalesReturns and Allowances b. debit to MerchandiseInventory c. credit to MerchandiseInventory d. debit to Cost of MerchandiseSold 9. In credittermsof 3/15,n/45,the "3" represents the a. numberof days in the discountperiod b. full amountof the invoice c. numberof dayswhen the entire amountis due d. percentofthe cashdiscount 10. The entry to recordthe return of merchandise from a customerwould include a a. debit to Sales b. credit to Sales c. debit to SalesReturnsand Allowances d. credit to Salesreturnsand Allowances I l. The amountof the total cashpaid to the seller for merchandise purchased would normally include a. only the list price b. only the salestax c. the list price plus the salestax d. the list price lessthe salestax

12. If the buyer is to pay the freight costsof deliveringmerchandise, delivery terms are statedas a. FOB shippingpoint b. FOB destination c. FOB n/30 d. FOB buyer

Name:

ID: A

1 3 . Discounts takenby a buyerbecause ofearly payment arerecorded on the seller's accounting records as a. Purchases discount b. Sales discount c. Tradediscount d. Earlypayment discount 1 4 . Takingadvantage of a2ll0, n/30purchases discount is equal to a savings yearlyrateof approximately a. 2% b. 24% c. 20% d. 36%

l. 2.
J.

4.

of merchandise inventory $7,000 wasordered on Septemb er 2,2009 of this merchandise wasreceived $3,000 on September 5, 2009 On September 6,2009,an invoicedated September 4,2009,with termsof 3/10,net30 for $3,250 which included a $250prepaid freightcost,wasreceived. On September 10,2009,$800of themerchandise wasreturned to the seller.

15. Based on theabove information, whatwouldbe recorded aspurchases discount if the invoice is paidwithin thediscount period? a. $73.50 b. $90.00 c. $210.00 d. $66.00 16. Based on theabove information, whatwouldberecorded payment asthecash if the invoiceis paidwithin the period? discount a. $2,200 b. $2,t34 c. $2,450 d. $2,384 17. Based on theabove information, payment whatwouldbethecash if thecompany decides to paythe invoice on September 30,2009? a. $2,450 b. $2,394 c. $3,250 d. $3,000 18. If title to merchandise purchases passes to thebuyerwhenthegoods aredelivered to thebuyer, thetermsare a. consiened b. n/30 point c. FOB shipping d. FOB destination

Name:

ID: A

19. If title to merchandise purchases passes to thebuyerwhenthegoods areshipped fromthe seller, thetermsare a. n/30 b. FOB shipping point c. FOB destination d. consigned j ournalentryto record 20. Theproper thereceipt purchased of inventory on account in a perpetual inventory system wouldbe: a. JanI Inventory 540.00 Accounts Payable 540.00 b. JanI OfficeSupplies 540.00 Accounts Payable 540.00 c. JanI Purchases 540.00 Accounts Payable 540.00 d. JanI Purchases 540.00 AccountsReceivable 540.00 p! be included 21. Whichof thefollowingitemsshould in thecostof ending merchandise inventory? a. unitson consignment b. purchased unitsin transit, shipped FOB destination c. unitson handin thewarehouse d. both(a) and(c) 22. Undertheperiodic inventory system, thejournalentryto record inventory will thepurchase of merchandise include a debitto a. Merchandise Inventory b. Purchases c. Accounts Payable d. Costof Merchandise Purchased 23. Undertheperiodic inventory system, thejournalentryto record the costof merchandise soldat thepointof salewill include thefollowingaccount a. No entryis made. b. Costof merchandise sold c. Inventory d. Purchases sold 24. Undera periodic inventory system, closing entries will include a. Dr. Sales, Purchases Returns andAllowances, Purchases Discounts b. Cr. Purchases, Sales Discounts, Sales Returns andAllowances c. Adjust Merchandise InventoryAccountto matchphysicalinventory d. All arecorrect

Name:

TD:A

25, Control of inventory should beginassoonastheinventory is received. Whichof the followinginternal controlsteps is not doneto meetthis goal? a. check the invoiceto thereceiving report b. check the invoiceto thepurchase order c. check the invoice with theperson who specifically purchased the item d. check the invoiceextensions andtotals 26. Which of the following is not an example for safeguarding inventory? a. Storing inventory in restricted areas. b. Physical devices suchastwo-waymirrors, cameras, andalarms. c. Matching receiving purchase documents, orders, andvendoros invoice. d. Returning inventorythat is defective or broken. 27. Whichof thefollowinginventory costmethods is appropriate for a business who hasinventory with a relatively smallnumber of uniqueitemsanda highcostper item? a. FIFO b. LIFO c. average d. specificidentification 28. Underwhich methodof inventorycostflows is the costflow assumed to be in the reverse orderin which the expenditures weremade? a. weighted average b. last-in, first-out c. first-in,first-out d. average cost 29. Whichof the followingcompanies wouldbe morelikelyto usethe specific identification inventory costing method? a. Gordon's Jewelers b. Lowe's c. BestBuy d. Wal-Mart

Name: The inventorydatafor an item for September are:

ID: A

Sep. 1 4 10 t7 30

Inventory Sold Purchased Sold Purchased

20 unitsat $20 l0 units 30 unitsat $25 20 units 10units at $30

3 0 . Usingtheperpetual system, costing by the last-in, first-out method, whatis the costof themerchandise
inventory of 30 unitson September 30? a. $800 b. $650 c. $750 d. $700 3 1 . In recording thecostofmerchandise from perpetual inventory records, soldfor cash, based on dataavailable thejournalentryis a. debitCostof Merchandise Sold;creditSales b. debitCostof Merchandise Sold;creditMerchandise Inventory c. debitMerchandise Inventory; creditCostof Merchandise Sold d. debitAccounts Receivable; creditSales is 32. Theinventory system records thatcontinuously disclose theamount of inventory employing accounting called a. retail b. periodic c. physical d. perpetual
aa JJ.

The inventorydatafor an item for September are: Sep. I 4 10 l7 30 Inventory Sold Purchased Sold Purchased 20 unitsat $19 l0 units 30 unitsat $20 20 units 10unitsat $21

sold first-out method, whatis the costof themerchandise Usingtheperpetual system, costing by the last-in, for September? a. $610 b. $600 c. $590

d. ss80

Name: Usethefollowinginformation to answer thefollowingquestions.

ID: A

The Boxwood Companysells blanketsfor $60 each. The following was taken from the inventoryrecords n duri Date ProductZ Units Cost

Mav 3 Mav 10 Mav 17 Mav 20 Mav 23 Mav 30

Purchase Sale Purchase Sale Sale Purchase

5
J

$30

10
6
J

s34
$40

l0

3 4 . Assuming thatthecompany uses theperpetual inventory profitfor the saleof system, determine the gross May 23 usingtheFIFO inventory costmethod. a. $78 b. $90 c. $102 d. $180

3 5 . Assuming thatthecompany uses theperpetual inventory system, determine the ending inventory for the
monthof May usingthe average inventory costmethod. a, $502 b. s452 c. $500 d. $450 3 6 . Damaged merchandise thatcanbe soldonly at prices belowcostshould be valued at a. netrealizable value b. LIFO c. FIFO d. average 3 7 . If thecostof an itemof inventory is $50andthecurrent replacement costis $57,theamount included in inventory according to the lowerof costor market is a. $7 b. $s0 c. $57 d. $107

3 8 . Kristin'sBoutiques hasidentified in its December the followingitemsfor possible inclusion 31,2010

inventory.Whichof the followingwouldnot be includedin theyearendinventory? purchased a. Merchandise pointwaspicked FOB shipping up by the freightcompany but hadstill not arrived at Kristin'sBoutique asof December 31,2010. b. Kristinhasin its warehouse merchandise on consignment from Abby Co. c. Kristinhassentmerchandise to various retailers on a consignment basis d. Kristinhasmerchandise on handwhichhasbeen returned bv customers because of wrongsize.

Name:

ID: A

39. If a companymistakenlycountsmore items during a physicalinventorythan actually exist, how will the error affect their bottom line? a. No changeto net income. b. Net income will be overstated c. Net incomewill be understated. d. Only grossprofit will be affected. 40. Too much inventoryon hand a. reduces solvency b. increases the cost to safeguard the assets c. increases the losses due to price declines d. all ofthe above 41. If the direct write-off method of accountingfor uncollectiblereceivables is used,what generalledgeraccount is debited to write off a customer's account as uncollectible? a. Uncollectible AccountsPayable b. AccountsReceivable c. Allowance for Doubtful Accounts d. Bad Debt Expense 42. Allowance for Doubtful Accounts has a credit balanceof $500 at the end of the year (beforeadjustment), and uncollectible accounts expense is estimated at3%o of net sales.lf net salesare $600,000, the amountof the adjustingentry to recordthe provision for doubtful accountsis a. $ I 8,500 b . $1 7 , 5 0 0 c. $ 18,000 d. noneofthe above 43. Allowance for Doubtful Accounts has a debit balanceof $500 at the end of tlie year (beforeadjustment), and uncollectibleaccountsexpenseis estimated at 4%o of net sales. If net salesare $600,000, the amountof the adjustingentry to record the provision for doubtful accountsis a. $24,500 b. $23,500 c. $24,000 d. noneofthe above 44. Allowance for Doubtful Accounts is listed on the balancesheetunderthe caption a. owner's eqLrity b. investments c. fixed assets d. currentassets 45. On the balancesheet,the amountshown for the Allowance for Doubtful Accounts is equalto the a. Uncollectibleaccountsexpense for the year b. total of the accountsreceivables written-off during the year c. total estimateduncollectibleaccountsas of the end of the year d. sum ofall accounts that are pastdue.

Name:

ID: A

46. A companyusesthe estimateof salesmethodto accountfor uncollectibleaccounts. When the firm writes off a specificcustomer's accountreceivable a. total currentassets are reduced b. total expenses for the period are increased c. total current assets are reducedand total expenses are increased d. there is no effect on total current assets or total expenses 47. Dalton Companyusesthe estimatebasedon analysisof receivables to accountfor uncollectibleaccounts. The companyhas determinedthat the Irish Companyaccountis uncollectible. To write-off this account, Dalton should debit a. UncollectibleAccounts Expenseand credit AccountsReceivable b. UncollectibleAccounts Expenseand credit Allowance for Doubtful Accounts c. Allowance for Doubtful Accounts and credit AccountsReceivable d. Accountsreceivableand credit Allowance for Doubtful Accounts 48. Allowance for Doubtful Accounts has a debit balanceof $1,100at the end of the year (beforeadjustment), and an analysis of customers'accounts indicates doubtfulaccounts of $12,900. Which of the following entriesrecordsthe proper provision for doubtful accounts? a. debit UncollectibleAccounts Expense,$14,000;credit Allowance for Doubtful Accounts, $14,000 b. debitAllowancefor Doubtful Accounts,$14,000; creditUncollectible Accounts Expense, $14,000 c. debitAllowancefor Doubtful Accounts, Accounts $11,800;creditUncollectible Expense, 1,800 $l d. debitUncollectible AccountsExpense, $11,800;creditAllowancefor Doubtful Accounts, $11,800 49. An aging of a company'saccounts receivable indicatesthat $5,000 are estimatedto be uncollectible. If Allowance for Doubtful Accounts has a $1,200 credit balance,the adjustmentto record bad debts for the period will require a a. debitto Allowancefor Doubtful Accountsfor $3,800. b. debit to Bad DebtsExpensefor $3,800. c. debit to Allowance for Doubtful Accountsfor $5.000. d. credit to Allowance for Doubtful for $5,000. 50. To recordestimated uncollectibleaccountsusing the allowancemethod,the adjustingentry would be a a. debit to Bad DebtsExpenseand a credit to Allowance for Doubtful Accounts. b. debit to AccountsReceivableand a credit to Allowance for Doubtful Accounts. c. debit to Allowance for Doubtful Accountsand a credit to Accounts Receivable. d. debit to Loss on Credit Salesand a credit to AccountsReceivable. 51. Intereston a note can be calculatedwithout knowledgeof the a. note'smaturity date b. rate ofinterest c. notesduration d. principalamount

Name:
52. Thejournal entry to record a note receivedfrom a customerto apply on accountis a. debitNotes Receivable; creditAccountsReceivable b. debitAccountsReceivable; creditNotesReceivable c. debitCash;creditNotesReceivable d. debitNotesReceivable; creditNotesPayable

ID: A

53. Bright Co. holds ParkCo.'s $40,000,120 day,9o/o note. The entry madeby Bright Co. whenthe note is collected,assumingno interesthas previously beenaccruedis: a. b. Cash NotesReceivable AccountsReceivable NotesReceivable lnterest Revenue Cash NotesReceivable Interest Revenue d. AccountsReceivable NotesRevenue InterestRevenue 41.200 40,000 1,200 41,200 40,000 1.200 41,200 40,000 1,200 40,000 40,000

c.

54. When comparingthe direct write-off methodand the allowancemethodof accountingfor uncollectible accounts, the entry to reinstate a previously written off accounts rnethod underthe allowance would include: a. A credit to Bad Debt Expense b. A debitto Bad Debt Expense c. A debit to Allowance for Doubtful Accounts d. A creditto Allowancefor Doubtful Accounts 5 5 . A b u i l d i n g w i t l i a n a p p r a i s a l v a l u e o f $ l 4 T , 0 0 0 i s m a d e a v a i l a b l e a t a n o f f e r p r i c e o f $ 1 5T 2h ,0 e0 0 . purchaser acquiresthe property for $35,000in cash, a90-day note payablefor $45,000,and a mortgage amountingto $65,000. The cost basisrecordedin the buyer'saccountingrecordsto recognize this purchase is a. $147.000 b. $1s2.000 c. $145,000 d. $l r 0.000 56. The journal entry for recordingan operatingleasepaymentwould a. be a memo entry only b. debit the fixed assetand credit Cash c. debit an expense and credit Cash d. debit a liability and credit Cash 57. When determiningwhetherto record an assetas a fixed asset, what two criteria must be met? a. Must be an investmentand must be long lived. b. Must be long lived and must usethe assetin a productivemanner. c. Must be long lived and must be a tangibleasset. d. Must be a tansible assetand must be an investment.

10

Name:

ID: A

58. Equipmentwith a cost of $ 160,000,an estimated residualvalue of $40,000,and an estimated life of 15 years was depreciated by the straight-linemethodfor 4 years.Due to obsolescence, it was determined that the useful life should be shortened by 3 yearsand the residualvalue changedto zero. The depreciation expense for the current and future yearsis a. $11,636 b. $16,000 c. $l1,000 d. $8,000 journal entry to purchase 59. The proper a computer on account to be utilizedwithin the business would be: a. Jan2 Office Supplies 1,350 AccountsPayable 1,350 b. Jan2 OfficeEquipment 1,350 AccountsPayable 1,350 c. lan2 Office Supplies 1,350 AccountsReceivable 1.350 d. Jan2 Office Equipment 1,350 AccountsReceivable 1,350 60. Computer equiprnent was acquired at the beginning of the year ata costof $65,000 that hasan estimated residualvalue of $3,000and an estimateduseful life of 5 years.Determinethe 2nd year's depreciation using straight-line deprec iation. a. $26,000 b. $24,800 c. $ 12.400 d. $13,000 61. When a companysells machineryat a price equalto its book value, this transactiori would be recordedwith an entry that would include the following: a. debit Cashand AccumulatedDepreciation;credit Machinery b. debitMachinery;creditCashand Accumulated Depreciation c. debit Cashand Machinery; credit AccumulatedDepreciation d. debit Cashand DepreciationExpense;credit AccumulatedDepreciation 62. On December 31, StrikeCompanyhasdecided to sell one of its battingcages.The initial costof the equipment was $215,000with an accumulated hasbeentakenup to depreciation of $ 185,000.Depreciation the end of the year. The companyfound a companythat is willing to buy the eqLriprnent for $30,000. What is the amountof the gain or loss on this transaction? a. Gain of $30,000 b. Lossof$30,000 c. No gain or loss d. Cannotbe determined

11

Name:

ID: A

63. The term appliedto the amountof cost to transferto expense resultingfrom a decline in the utility of intangibleassets is a. amortization b. depletion c. depreciation d. allocation 64. The exclusiveriglit to use a certainnameor symbol is called a a. franchise b. patent c. trademark d. copyright

t2

TD:A

-C}J45678 SAMPLETEST2 AnswerSection

MULTIPLE CHOICE l. ANS: C PTS: I DIF: Moderate NAT: AACSBAnalyticI AICPA BB-Industry 2. ANS: B PTS: I DIF: Difficult NAT: AACSBAnalyticI AICPA FN-Measurement 3. ANS: A PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 4. ANS: C PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 5. ANS: D PTS: 1 DIF: Easv NAT: AACSBAnalyticI AICPA FN-Measurement 6. ANS: D PTS: I DIF: Easv NAT: AACSB AnalyticI AICPA FN-Measurement 7. ANS: B PTS: 1 DIF: Difficult NAT: AACSBAnalyticIAICPA FN-Measurement PTS: 1 8. ANS: B DIF: Easy NAT: AACSBAnalytic IAICPA FN-Measurement PTS: 1 9. ANS: D DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 10. ANS: C PTS: 1 DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 11. ANS: C PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 12. ANS: A PTS: I DIF: Easy NAT: AACSBAnalyticI AICPAFN-Measurement PTS: I DIF: Easy 13. ANS: B NAT: AACSBAnalytic FN-Measurement IAICPA PTS: I DIF: Easy 14. ANS: D NAT: AACSBAnalyticIAICPA FN-Measurement PTS: I DIF: Difficult 15. ANS: D NAT: AACSBAnalytic IAICPA FN-Measurement PTS: I DIF: Difficult 16, ANS: D NAT: AACSBAnalyticIAICPA FN-Measurement DIF: Moderate 17. ANS: A PTS: 1 NAT: AACSBAnalyticIAICPA FN-Measurement PTS: I DIF: Easy 18. ANS: D NAT: AACSBAnalyticIAICPA FN-Measurement DIF: Easy 19. ANS: B PTS: 1 NAT: AACSB AnalyticI AICPA FN-Measurement DIF: Easy PTS: I 20. ANS: A NAT: AACSBAnalvticI AICPA FN-Measurement OBJ: 06-01 OBJ: 06-02 OBJ: 06-02 OBJ: 06-02 OBJ: 06-02 OBJ: 06-02 OBJ: 06-02 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03 OBJ: 06-03

ID: A 21. ANS: B PTS: 1 DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 22. ANS: B PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 23. ANS: A PTS: I DIF: Easy NAT: AACSBAnaly'tic FN-Measurement IAICPA 24. ANS: D PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 25. ANS: C PTS: I DIF: Moderate NAT: AACSBAnalytic FN-Measurement IAICPA 26. ANS: D PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 27. ANS: D PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 28. ANS: B PTS: I DIF: Moderate NAT: AACSB AnalyticI AICPA FN-Measurement 29. ANS: A PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 30. ANS: B PTS: I DIF: Difficult NAT: AACSBAnalyticI AICPA FN-Measurement 31. ANS: B PTS: I DIF: Difficult NAT: AACSBAnalyticIAICPA FN-Measurement 32. ANS: D PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 33. ANS: C PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 34. ANS: A PTS: I DIF: Moderate NAT: AACSBAnalyticI AICPA FN-Measurement 35. ANS: C PTS: I DIF: Difficult NAT: AACSBAnalyticIAICPA FN-Measurernent 36. ANS: A PTS: 1 DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 37. ANS: B PTS: 1 DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 38. ANS: B PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 39. ANS: B PTS: 1 DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 40. ANS: D PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 41. ANS: D PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measuremerrt 42. ANS: C PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 43. ANS: C PTS: I DIF: Moderate NAT: AACSBAnalvticIAICPA FN-Measurement OBJ: 06-03 OBJ: 06-App2 OBJ: 06-App2 OBJ: 06-App2 OBJ: 07-01 OBJ: 07-01 OBJ: 07-02 OBJ: 07-02 OBJ: 07-02 OBJ: 07-03 OBJ: 07-03 OBJ: 07-03 OBJ: 07-03 OBJ: 07-03 OBJ: 07-03 OBJ: 01-06 OBJ: 07-06 OBJ: 01-06 OBJ: 07-06 OBJ: 07-06 OBJ: 09-03 OBJ: 09-04 OBJ: 09-04

ID: A 44. ANS: D PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 45. ANS: C PTS: 1 DIF: Easy NAT: AACSBAnalyticI AICPAFN-Measurement 46. ANS: D PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 47. ANS: C PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 48. ANS: A PTS: 1 DIF: Moderate NAT: AACSBAnalytic AICPA FN-Measurement I 49. ANS: B PTS: 1 DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 50. ANS: A PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 51. ANS: A PTS: 1 DIF: Easy NAT: AACSBAnalytic IAICPA FN-Measurement 52. ANS: A PTS: 1 DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 53. ANS: C PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 54. ANS: D PTS: 1 DIF: Moderate NAT: AACSBAnalyticI AICPA FN-Measurement 55. ANS: C PTS: I DIF: Moderate NAT: AACSBAnalyticI AICPA FN-Measurement 56. ANS: C PTS: 1 DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 57. ANS: B PTS: I DIF: Moderate NAT: AACSBAnalytic IAICPA FN-Measurement 58. ANS: B PTS: I DIF: Difficult NAT: AACSBAnalytic IAICPA FN-Measurement 59. ANS: B PTS: I DIF: Easy NAT: AACSBAnalyticI AICPA FN-Measurement 60. ANS: C PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 61. ANS: A PTS: I DIF: Moderate NAT: AACSBAnalyticIAICPA FN-Measurement 62. ANS: C PTS: 1 DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 63. ANS: A PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement 64. ANS: C PTS: I DIF: Easy NAT: AACSBAnalyticIAICPA FN-Measurement OBJ: 09-04 OBJ: 09-04 OBJ: 09-04 OBJ: 09-04 OBJ: 09-04 OBJ: 09-04 OBJ: 09-04 OBJ: 09-06 OBJ: 09-06 OBJ: 09-06 OBJ: 09-05 OBJ: 10-01 OBJ: 10-01 OBJ: 10-01 OBJ: 10-02 OBJ: 10-02 OBJ: 10-02 OBJ: 10-03 OBJ: 10-03 OBJ: 10-05 OBJ: 10-05