基础会计学第二章答案.docx
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基础会计学第二章答案
Chapter2
AnalyzingandRecordingTransactions
True/FalseQuestions
1. Thefirststepintheprocessingofatransactionistoanalyzethetransactionandsourcedocuments.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C1
Topic:
ProcessingTransactions
2. Preparationofatrialbalanceisthefirststepintheanalyzingandrecordingprocess.
Answer:
False
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C1
Topic:
ProcessingTransactions
3. Sourcedocumentsprovideevidenceofbusinesstransactionsandarethebasisforaccountingentries.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C1
Topic:
ProcessingTransactions
4. Itemssuchassalestickets,bankstatements,checks,andpurchaseordersaresourcedocuments.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C1
Topic:
ProcessingTransactions
5. Anaccountisarecordofincreasesanddecreasesinaspecificasset,liability,equity,revenue,orexpenseitem.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C2
Topic:
Accounts
6. Acustomer'spromisetopayiscalledanaccountpayabletotheseller.
Answer:
False
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C2
Topic:
Accounts
7. Withdrawalsbytheownerareabusinessexpense.
Answer:
False
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C2
Topic:
Accounts
8. Landandbuildingsaregenerallyrecordedinthesameledgeraccount.
Answer:
False
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C2
Topic:
Accounts
9. Unearnedrevenuesareliabilities.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C2
Topic:
Accounts
10. Cashwithdrawnbytheownerofaproprietorshipshouldbetreatedasanexpenseofthebusiness.
Answer:
False
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C2
Topic:
Accounts
11. Whenacompanyprovidesservicesforwhichcashwillnotbereceiveduntilsomefuturedate,thecompanyshouldrecordtheamountchargedasunearnedrevenue.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C2
Topic:
Accounts
12. Thechartofaccountsisalistofalltheaccountsusedbyacompanyandincludesanidentificationnumberassignedtoeachaccount.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C3
Topic:
LedgerandChartofAccounts
13. Anaccountbalanceisthedifferencebetweenthedebitsandcreditsforanaccountincludinganybeginningbalance.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C2
Topic:
Account
14. Debitmeanstherightsideofanaccount.
Answer:
False
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C4
Topic:
DebitsandCredits
15. Inadouble-entryaccountingsystem,thetotalamountdebitedmustalwaysequalthetotalamountcredited.
Answer:
True
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C4
Topic:
DebitsandCredits
16. Increasesinliabilityaccountsarerecordedasdebits.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
17. Debitsincreaseassetandexpenseaccounts.
Answer:
True
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
18. Creditsalwaysincreaseaccountbalances.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
19. Creditinganexpenseaccountdecreasesit.
Answer:
True
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
20. Arevenueaccountnormallyhasadebitbalance.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
21. Accountsarenormallydecreasedbydebits.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
22. Theowner'swithdrawalaccountnormallyhasacreditbalancesinceitisanequityaccount.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
23. Assetaccountsnormallyhavecreditbalancesandrevenueaccountsnormallyhavedebitbalances.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
24. Anowner'scapitalaccountnormallyhasadebitbalance.
Answer:
False
Blooms:
Remember
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-C4
Topic:
DebitsandCredits
25. Adebitentryisalwaysfavorable.
Answer:
False
Blooms:
Understand
AACSB:
Communication
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-C4
Topic:
DebitsandCredits
26. Atransactionthatdecreasesanassetaccountandincreasesaliabilityaccountmustalsoaffectoneormoreotheraccounts.
Answer:
True
Blooms:
Apply
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
3Hard
LearningObjective:
02-A1
Topic:
TransactionAnalysis
27. Atransactionthatincreasesanassetanddecreasesaliabilitymustalsoaffectoneormoreotheraccounts.
Answer:
True
Blooms:
Apply
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
3Hard
LearningObjective:
02-A1
Topic:
TransactionAnalysis
28. Ifinsurancecoverageforthenextthreeyearsispaidforinadvance,theamountofthepaymentisdebitedtoanassetaccountcalledPrepaidInsurance.
Answer:
True
Blooms:
Understand
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-A1
Topic:
TransactionAnalysis
29. ThepurchaseofsuppliesoncreditshouldberecordedwithadebittoSuppliesandacredittoAccountsPayable.
Answer:
True
Blooms:
Understand
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-A1
Topic:
TransactionAnalysis
30. Ifacompanypurchaseslandpayingcash,thejournalentrytorecordthistransactionwillincludeadebittoCash.
Answer:
False
Blooms:
Understand
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-A1
Topic:
TransactionAnalysis
31. IfacompanyprovidesservicestoacustomeroncreditthesellingcompanyshouldcreditAccountsReceivable.
Answer:
False
Blooms:
Understand
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-A1
Topic:
TransactionAnalysis
32. Whenacompanybillsacustomerfor$600forservicesrendered,thejournalentrytorecordthistransactionwillincludea$600debittoServicesRevenue.
Answer:
False
Blooms:
Apply
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
3Hard
LearningObjective:
02-A1
Topic:
TransactionAnalysis
33. Thedebtratiohelpstoassesstheriskacompanyhasoffailingtopayitsdebtsandishelpfultobothitsownersandcreditors.
Answer:
True
Blooms:
Understand
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-A2
Topic:
DebtRatio
34. Thehigheracompany'sdebtratiois,thehighertheriskofacompanynotbeingabletomeetitsobligations.
Answer:
True
Blooms:
Understand
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-A2
Topic:
DebtRatio
35. Thedebtratioiscalculatedbydividingtotalassetsbytotalliabilities.
Answer:
False
Blooms:
Remember
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
1Easy
LearningObjective:
02-A2
Topic:
DebtRatio
36. Acompanythatfinancesarelativelylargeportionofitsassetswithliabilitiesissaidtohaveahighdegreeoffinancialleverage.
Answer:
True
Blooms:
Understand
AACSB:
Analytic
AICPABB:
Industry
AICPAFN:
DecisionMaking
Difficulty:
2Medium
LearningObjective:
02-A2
Topic
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