False ANSWER: Challenging DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-04 - LO: 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 - Financial StatementsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic A proof of the equality of debits and credits in the ledger at the end of an accounting period is called a balancesheet. True False False ANSWER: Moderate DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-04 - LO: 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 - Financial StatementsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic If the trial balance is in balance, it can be assumed that all journal entries were posted correctly and no errors weremade. True False False ANSWER: Moderate DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-04 - LO: 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 - Financial StatementsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal. True False False ANSWER: Challenging DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-04 - LO: 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS:
ANSWER: False DIFFICULTY: Challenging Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-04 - LO: 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.09 - Financial StatementsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic A proof of the equality of debits and credits in the ledger at the end of an accounting period is called a balancesheet. True False ANSWER: False DIFFICULTY: Moderate Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-04 - LO: 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.09 - Financial StatementsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic If the trial balance is in balance, it can be assumed that all journal entries were posted correctly and no errors weremade. True False ANSWER: False DIFFICULTY: Moderate Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-04 - LO: 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.09 - Financial StatementsACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal. True False ANSWER: False DIFFICULTY: Challenging Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-04 - LO: 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP
Financial-Managerial-Accounting-13th-Edition-Test-Bank-Warren-Reeve-Duchac.docx