Financial Reporting and Analysis: Using Financial Accounting Information 13th test bank

NAT:  BUSPROG: Communication           
STA:   AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP:   Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY:  Bloom's: Comprehension                 NOT:  Time: 20 min.          
 
Listed below are Concept Statements.
 
Required:
Match the letter of each Concept Statement with the Concept Statement title.
 
a.
Statement of Financial Accounting Concepts No. 1

b.
Statement of Financial Accounting Concepts No. 2

c.
Statement of Financial Accounting Concepts No. 3

d.
Statement of Financial Accounting Concepts No. 4

e.
Statement of Financial Accounting Concepts No. 5

f.
Statement of Financial Accounting Concepts No. 6

g.
Statement of Financial Accounting Concepts No. 7

 
 
   34.   Objectives of Financial Reporting by nonbusiness
 
   35.   Elements of Financial Statements of Business Enterprises
 
   36.   Qualitative Characteristics of Accounting Information
 
   37.   Elements of Financial Statements (a replacement of No. 3)
 
   38.   Objective of Financial Reporting by Business Enterprises
 
   39.   Recognition and Measurement in Financial Statements of Business Enterprise
 
   40.   Using Cash Flow Information in Accounting Measurements
 
   34.   ANS:  D                   PTS:   1                    DIF:    Difficulty: Moderate 
NAT:  BUSPROG: Communication           
STA:   AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP:   Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY:  Bloom's: Comprehension                 NOT:  Time: 10 min.          
 
   35.   ANS:  C                    PTS:   1                    DIF:    Difficulty: Moderate 
NAT:  BUSPROG: Communication           
STA:   AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP:   Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY:  Bloom's: Comprehension                 NOT:  Time: 10 min.          
 
   36.   ANS:  B                    PTS:   1                    DIF:    Difficulty: Moderate 
NAT:  BUSPROG: Communication           
STA:   AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP:   Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY:  Bloom's: Comprehension                 NOT:  Time: 10 min.          
 
   37.   ANS:  F                    PTS:   1                    DIF:    Difficulty: Moderate 
NAT:  BUSPROG: Communication