False ANSWER: Easy DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Debits will increase Unearned Revenues and Revenues. True False False ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.04 - Cash vs. Accrual ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic All owners’ equity accounts record increases to the accounts with credits. True False False ANSWER: Challenging DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Journalizing always eliminates fraudulent activity. True False ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.01 - Purpose ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic
ANSWER: False DIFFICULTY: Easy Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Debits will increase Unearned Revenues and Revenues. True False ANSWER: False DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: - GAAP ACCT.ACBSP.APC.04 - Cash vs. Accrual ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic All owners’ equity accounts record increases to the accounts with credits. True False ANSWER: False DIFFICULTY: Challenging Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Journalizing always eliminates fraudulent activity. True False ANSWER: DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.01 - Purpose ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic