FNMN.WARD.16.02-01 - LO: 02-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business FormsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic The accounts payable account is listed in the chart of accounts as an asset. True False False ANSWER: Easy DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-01 - LO: 02-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.16 - Current Liabilities ReportingACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A dividends account represents the amount of earnings paid to the stockholders. True False True ANSWER: Moderate DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-01 - LO: 02-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.03 - Business FormsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic Revenues are equal to the difference between cash receipts and cash payments. True False False ANSWER: Moderate DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-01 - LO: 02-01 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.04 - Cash vs. AccrualACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic
LEARNING OBJECTIVES: FNMN.WARD.16.02-01 - LO: 02-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.03 - Business FormsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic The accounts payable account is listed in the chart of accounts as an asset. True False ANSWER: False DIFFICULTY: Easy Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-01 - LO: 02-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.16 - Current Liabilities ReportingACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic A dividends account represents the amount of earnings paid to the stockholders. True False ANSWER: True DIFFICULTY: Moderate Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-01 - LO: 02-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.03 - Business FormsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic Revenues are equal to the difference between cash receipts and cash payments. True False ANSWER: False DIFFICULTY: Moderate Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-01 - LO: 02-01 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.04 - Cash vs. AccrualACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic