Challenging DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.01-04 - LO: 01-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 GAAP ACCREDITING STANDARDS: – ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 Measurement – BUSPROG: Analytic Which of the following is a business inventory on account advertising for upcoming sale give employees a raise beginning next month estimate for construction project a ANSWER: Easy DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.01-04 - LO: 01-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 GAAP ACCREDITING STANDARDS: – ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 Measurement – BUSPROG: Analytic The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as a month or year, is called a(n) prior period statement retained earnings statement income statement balance sheet c ANSWER: Easy DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.01-05 - LO: 01-05 LEARNING OBJECTIVES: ACCT.ACBSP.APC.06 - Recording Transactions ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 Measurement – BUSPROG: Analytic Which of the following financial statements reports information as of a specific date? income statement retained earnings statement statement of cash flows balance sheet d ANSWER: Easy DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.01-05 - LO: 01-05 LEARNING OBJECTIVES: ACCT.ACBSP.APC.09 - Financial Statements ACCREDITING STANDARDS: ACCT.AICPA.FN.03 Measurement – BUSPROG: Analytic
DIFFICULTY: Challenging Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.01-04 - LO: 01-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 – GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 – Measurement BUSPROG: Analytic Which of the following is a business inventory on account advertising for upcoming sale employees a raise beginning next month estimate for construction project ANSWER: a DIFFICULTY: Easy Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.01-04 - LO: 01-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 – GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 – Measurement BUSPROG: Analytic The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as a month or year, is called a(n) prior period statement retained earnings statement income statement balance sheet ANSWER: c DIFFICULTY: Easy Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.01-05 - LO: 01-05 ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 – Measurement BUSPROG: Analytic Which of the following financial statements reports information as of a specific date? income statement retained earnings statement statement of cash flows balance sheet ANSWER: d DIFFICULTY: Easy Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.01-05 - LO: 01-05 ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 – Measurement BUSPROG: Analytic give
FinMan_Chapter_01_Introduction_to_Accounting_and_Business.docx