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

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

$15.00

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

Periods3%4%5%6%7%8%9%10%12%
30.91510.88900.86380.83960.81630.79380.77220.75130.7118
40.88850.85480.82270.79210.76290.73500.70840.68300.6355
50.86260.82190.78350.74730.71300.68060.64990.62090.5674
60.83750.79030.74620.70500.66630.63020.59630.56450.5066
70.81310.75990.71070.66510.62270.58350.54700.51320.4523
80.78940.73070.67680.62740.58200.54030.50190.46650.4039
90.76640.70260.64460.59190.54390.50020.46040.42410.3606
100.74410.67560.61390.55840.50830.46320.42240.38550.3220

 

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