Home / My Courses / ACC211_6387_2021-2022_2NDSEM-SEM_CAE / 5th to 8th Examinations/Assessments / Final Exam

Question 18
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All of the
following are revenue accounts, except

Select one:
a.        Income from services provided by an accounting
firm

b.        Accrual of
interest by a maker of a note

c.        Accrual of interest by a lending institution

d.
       Income generated from sale of goods by a candy
shop

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 Question 19
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Depletion expense

Select one:
a.        Excludes intangible development cost from the
depletable cost

b.        Is usually part of cost of goods sold

c.        Includes tangible equipment cost in the depletable

cost

d.        Excludes restoration cost from the depletable cost

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Question 20
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Disclosure
is usually not required for

Select one:
a. Contingent gains that are probable and can be
reasonably estimated.

b.     Contingent
losses that are reasonably possible and cannot be reasonably estimated.

c.     Contingent
losses that are remote and can be reasonably estimated.

d.     Contingent
losses that are probable and can be reasonably measured.

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 Question 21
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Each of
the following companies is a merchandising company except a

Select one:
a.        Wholesale department store

b.
       Grocery store

c.        Space rentals

d.        Candy store      

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Question 22
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 How would
the amortization of premium on bonds payable affect carrying amount of bond
and
interest expense respectively?

Select one:
a.        Increase and decrease                

b.        Increase and increase                  

c.        decrease and increase

d.        decrease and
decrease

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