Test Bank for Financial and Managerial Accounting 8th Edition By Wild

Test Bank for Financial and Managerial Accounting 8th Edition By Wild

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By: Wild

Edition: 8th Edition

Format: Downloadable ZIP Fille

Resource Type: Test bank

Duration: Unlimited downloads

Delivery: Instant Download

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Test Bank for Financial and Managerial Accounting 8th Edition By Wild

Financial and Managerial Accounting, 8e (Wild)

Table of Contents

Chapter 1: Accounting in Business
Chapter 2: Analyzing for Business Transactions
Chapter 3: Adjusting Accounts for Financial Statements
Chapter 4: Accounting for Merchandising Operations
Chapter 5: Inventories and Cost of Sales
Chapter 6: Cash and Internal Controls
Chapter 7: Accounting for Receivables
Chapter 8: Accounting for Long-term Assets
Chapter 9: Accounting for Current Liabilities
Chapter 10: Accounting for Long-Term Liabilities
Chapter 11: Corporate Reporting and Analysis
Chapter 12: Reporting Cash Flows
Chapter 13: Analysis of Financial Statements
Chapter 14: Managerial Accounting Concepts and Principles
Chapter 15: Job Order Costing and Analysis
Chapter 16: Process Costing and Analysis
Chapter 17: Activity-Based Costing and Analysis
Chapter 18: Cost Behavior and Cost-Volume-Profit Analysis
Chapter 19: Variable Costing and Analysis
Chapter 20: Master Budgets and Performance Planning
Chapter 21: Flexible Budgets and Standard Costs
Chapter 22: Performance Measurement and Responsibility Accounting
Chapter 23: Relevant Costing for Managerial Decisions
Chapter 24: Capital Budgeting and Investment Analysis
Appendix A: Financial Statement Information A-1
Appendix B: Time Value of Money B
Appendix C: Investments and International Operations C
Appendix D: Accounting for Partnerships D
Appendix E: Reporting and Preparing Special Journals E

Appendix B  Time Value of Money

 1) Interest is the borrower’s payment to the owner of an asset, for its use.

Answer:  TRUE

Difficulty: 1 Easy

Topic:  Present and Future Value Concepts

Learning Objective:  B-C1 Describe the earning of interest and the concepts of present and future values.

Bloom’s:  Remember

AACSB/Accessibility:  Communication / Keyboard Navigation

AICPA:  BB Industry; FN Measurement

2) From the perspective of an account holder, a savings account is a liability with interest.

Answer:  FALSE

Difficulty: 1 Easy

Topic:  Present and Future Value Concepts

Learning Objective:  B-C1 Describe the earning of interest and the concepts of present and future values.

Bloom’s:  Remember

AACSB/Accessibility:  Communication / Keyboard Navigation

AICPA:  BB Industry; FN Measurement

3) An interest rate is also called a discount rate.

Answer:  TRUE

Difficulty: 1 Easy

Topic:  Present Value of a Single Amount

Learning Objective:  B-P1 Apply present value concepts to a single amount by using interest tables.

Bloom’s:  Remember

AACSB/Accessibility:  Communication / Keyboard Navigation

AICPA:  BB Industry; FN Measurement

4) Present and future value computations enable companies to measure or estimate the interest component of holding assets or liabilities over time.

Answer:  TRUE

Difficulty: 2 Medium

Topic:  Present and Future Value Concepts

Learning Objective:  B-C1 Describe the earning of interest and the concepts of present and future values.

Bloom’s:  Understand

AACSB/Accessibility:  Communication / Keyboard Navigation

AICPA:  BB Industry; FN Measurement

5) The number of periods in a present value calculation may only be expressed in years.

Answer:  FALSE

Difficulty: 1 Easy

Topic:  Present Value of a Single Amount

Learning Objective:  B-P1 Apply present value concepts to a single amount by using interest tables.

Bloom’s:  Remember

AACSB/Accessibility:  Communication / Keyboard Navigation

AICPA:  BB Industry; FN Measurement

Present Value of 1

Periods 3% 4% 5% 6% 7% 8% 9% 10% 12%
3 0.9151 0.8890 0.8638 0.8396 0.8163 0.7938 0.7722 0.7513 0.7118
4 0.8885 0.8548 0.8227 0.7921 0.7629 0.7350 0.7084 0.6830 0.6355
5 0.8626 0.8219 0.7835 0.7473 0.7130 0.6806 0.6499 0.6209 0.5674
6 0.8375 0.7903 0.7462 0.7050 0.6663 0.6302 0.5963 0.5645 0.5066
7 0.8131 0.7599 0.7107 0.6651 0.6227 0.5835 0.5470 0.5132 0.4523
8 0.7894 0.7307 0.6768 0.6274 0.5820 0.5403 0.5019 0.4665 0.4039
9 0.7664 0.7026 0.6446 0.5919 0.5439 0.5002 0.4604 0.4241 0.3606
10 0.7441 0.6756 0.6139 0.5584 0.5083 0.4632 0.4224 0.3855 0.3220

 

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