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1、Summary of Questions by Difficulty Level(DL)and Learning Objective(LO)Tme/FalseItemDLLOItemDLLOItemDLLO1.EasyCl33.MedC565.EasyA22.EasyCl34.MedC566.EasyA23.EasyCl35.MedC567.EasyA24.EasyC236.MedC568.MedA25.EasyC237.MedC569.MedA26.EasyC238.MedC570.HardA27.EasyC239.MedC571.MedA38.EasyC240.HardC572.MedA3
2、9.MedC241.HardC573.MedA310.MedC242.HardC574.HardA311.MedC243.EasyC675.HardA312.EasyC344.EasyC676.EasyA413.MedC445.EasyC677.EasyA414.MedC446.MedC678.MedA415.MedC447.MedC679.EasyPl16.MedC448.MedC680.EasyPl17.EasyC549.HardC681.EasyPl18.EasyC550.EasyAl82.EasyPl19.EasyC551.EasyAl83.EasyPl20.EasyC552.Easy
3、Al84.EasyPl21.EasyC553.EasyAl85.EasyPl22.EasyC554.EasyAl86.MedPl23.EasyC555.EasyAl87.MedPl24.EasyC556.EasyAl88.MedPl25.EasyC557.MedAl89.MedPl26.EasyC558.MedAl90.MedPl27.EasyC559.MedAl91.HardPl28.EasyC560.MedAl92.HardPl29.EasyC561.MedAl93.HardPl30.MedC562.HardAl94.HardPl31.MedC563.HardAl32.MedC564.Ea
4、syA2Multiple ChoiceItemDLLOItemDLLOItemDLLO95.MedCl131.HardC5167.EasyA296.MedCl132.HardC5168.MedA297.EasyC2133.HardC5169.MedA298.EasyC2134.HardC5170.MedA299.MedC2135.HardC5171.MedA2100.MedC2136.HardC5172.MedA2101.EasyC3137.HardC5173.HardA2102.EasyC3138.MedC6174.HardA2103.MedC3139.MedC6175.HardA2104.
5、MedC3140.MedC6176.HardA2105.MedC3141.MedC6177.EasyA3106.EasyC4142.HardC6178.EasyA3107.MedC4143.HardC6179.HardA3108.HardC4144.EasyAl18().MedA3109.EasyC5145.EasyAl181.HardA3110.MedC5146.EasyAl182.HardA3111.MedC5147.EasyAl183.MedA4112.MedC5148.EasyAl184.MedA4113.MedC5149.EasyAl185.EasyPl114.MedC5150.Ea
6、syAl186.EasyPl115.MedC5151.EasyAl187.EasyPl116.MedC5152.EasyAl188.MedPl117.MedC5153.EasyAl189.MedPl118.MedC5154.MedAl190.MedPl119.MedC5155.MedAl191.MedPl120.MedC5156.MedAl192.MedPl121.MedC5157.MedAl193.MedPl122.MedC5158.MedAl194.MedPl123.MedC5159.MedAl195.MedPl124.MedC5160.MedAl196.MedPl125.MedC5161
7、.MedAl197.MedPl126.MedC5162.MedAl198.MedPl127.MedC5163.HardAl199.MedPl128.MedC5164.MedAl200.MedPl129.130.HardHardC5C5165.166.MedHardAlAl201.202.HardHardPlPlMultiple ChoiceItemDLLOItemDLLOItemDLLO203.HardPl206.HardPl204.HardPl205.HardPlMatchingItemDLLOItemDLLOItemDLLO207.MedC1-C6211.MedC5,A1,P1215.Me
8、dPl208.MedC1-C4212.MedC5,A1,P1216.MedPl209.EasyC2213.MedAl217.MedPl210.HardC5214.MedAlShort EssayItemDLLOItemDLLOItemDLLO218.MedCl225.MedC5232.MedAl219.MedCl226.MedC5233.HardAl220.HardC2227.MedC5234.MedA3221.HardC2228.HardC5235.Med222.MedC3229.HardC5236.HardA4223.HardC4230.MedC6237.EasyPl224.MedC523
9、1.MedAl238.HardPlProblemsItemDLLOItemDLLOItemDLLO239.MedC5254.MedA2269.MedPl240.MedC5255.MedA2270.MedPl241.MedC5256.MedA2271.MedPl242.HardC5257.MedA2272.MedPl243.EasyAl258.MedA2273.MedPl244.EasyAl259.MedA2274.MedPl245.EasyAl260.MedA2275.HardPl246.HardAl261.MedA2276.HardPl247.HardAl,Pl262.HardA2277.H
10、ardPl248.HardAl,Pl263.HardA3278.HardPl249.EasyA2264.HardA3279.HardPl250.EasyA2265.HardA4280.HardPl251.EasyA2266.EasyPl281.HardPl252.EasyA2267.EasyPl282.HardPl253.EasyA2268.MedPl283.HardPlCompletion ProblemsItemDLLOItemDLLOItemDLLO284.MedCl299.HardC5314.MedAl285.HardCl300.EasyC6315.MedAl286.EasyC2301
11、.EasyC6316.MedAl287.MedC2302.MedC6317.MedAl288.MedC2303.MedC6318.MedAl289.MedC2304.EasyC6319.MedAl290.MedC2305.EasyAl320.EasyA2291.EasyC4306.EasyAl321.EasyA3292.EasyC5307.EasyAl322.MedA3293.EasyC5308.EasyAl323.EasyA4294.EasyC5309.EasyAl324.EasyPl295.EasyC5310.EasyAl325.EasyPl296.MedC5311.EasyAl326.E
12、asyPl297.MedC5312.EasyAl327.EasyPl298.MedC5313.EasyAl328.EasyPlTrue/False Questions1.A c c o u n tin g is a n in fo n n a tio n a n d m e a s u re m e n t sy s te m th a t id e n tifie s,re c o rd s,a n dc o m m u n ic a te s re le v a n t,re lia b le,a n d c o m p a ra b le fo rm a tio n a b o u t
13、a n o rg a n iz a tio n b u sin e ssa c tiv itie s.TRUEAACSB:CommunicationsA1CPA BB:IndustryAl CPA FN:Decision MakingDifficulty:EasyLearning Objective:Ci2.B o o k k e e p in g is th e s a m e as a c c o u n tin g.FALSEAACSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficult)：EasyLearni
14、ng Objective:Cl3.B o o k k e e p in g is th e re c o rd in g o f tra n s a c tio n s a n d e v e n ts a n d is o n ly p a rt o f a c c o u n tin g.TRUEAA CSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:EasyLearning Objective:C24.A n a c c o u n tin g in fo rm a tio n sy s te m
15、c o m m u n ic a te s d a ta to h e lp b u s in e s s e s m a k e b e tte rd e c isio n s.TRUEAACSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:EasyLearning Objective:C25.Managerial accounting is the area of accounting that provides internal reports to assist thedecision making
16、 needs of internal users.TRUEAACSB:C onununicationsAIC PA B B:IndustryAl C PA F N:D ecision M akingD ifficulty:EasyLearning O bjective:C 26.Internal operating activities include research and development,distribution,and humanresources.TRUEAA C SB:C om m un ica tionsAIC PA B B:IndustryAIC PA F N:D ec
17、ision M akingD ifficulty:EasyLearning O bjective:C 27.The primary objective of financial accounting is to provide general purpose financialstatements to help external users analyze and interpret an organizations activities.TRUEAA C SB:C om m un icationsAICPA BB:IndustryAIC PA F N:D ecision M akingD
18、ifficulty:EasyLearning O bjective:C 28.External auditors examine financial statements to verify that they are prepared according togenerally accepted accounting principles.TRUEAACSB:C om m unicationsAICPA BB:IndustryAICPA F N:D ecision M akingD ifficulty:M ediumLeaniing O bjective:C 29.External user
19、s include lenders,shareholders,customers,and regulators.TRUEAACSB:CommunicationsAI CP A BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLeant ing Objective:C210.Regulators often have legal authority over certain activities of organizations.TRUEAA CSB:CommunicationsAICPA BB:LegalAICPA FN:Decision
20、 MakingDifficulty:MediumLearning Objective:C211.Internal users include lenders,shareholders,brokers and managers.FALSEAA CSB:Coinmun icationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:EasyLearning Objective:C212.Opportunities in accounting include auditing,consulting,market research,and tax
21、planning.TRUEAACSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLearning Objective:C313.Identifying the proper ethical path is easy.FALSEAACSB:Ethical understandingAI CP A BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLeant ing Objective:C414.The Sarbanes-Oxley Act(S
22、OX)requires each issuer of securities to disclose whether is hasadopted a code of ethics for its senior financial officers and the contents of that code.TRUEAACSB:Ethical understandingAICPA BB:LegalAICPA FN:MeasurementDiffieuhy:MediumLearning Objective:C415.Good ethics are good business.TRUEAACSB:Et
23、hical understandingAICPA BB:Resource ManagementAICPA FN:Decision MakingDifficulty:MediumLearning Objective:C416.The Sarbanes-Oxley Act(SOX)does not require public companies to apply bothaccounting oversight and stringent internal controls.FALSEAACSB:Ethical understandingAICPA BB:LegalAICPA FN:Decisi
24、on MakingDifficult)：EasyLeaniing Objective:C417.A partnership is a business owned by two or more people.TRUEAACSB:CommunicationsAICPA BB:LegalA!CPA FN:Decision MakingDifficult)：EasyLeant ing Objective:C518.Owners of a corporation are called shareholders or stockholders.TRUEAA CSB:CommunicationsAICPA
25、 BB:LegalAICPA FN:Decision MakingDifficulty:EasyLearning Objective:C519.In the partnership form of business,the owners are called stockholders.FALSEAA CSB:Coinmun icationsAICPA BB:LegalAICPA FN:Decision MakingDifficulty:EasyLearning Objective:C520.A sole proprietorship is one or more individuals sel
26、ling products or services for profit.FALSEAACSB:CommunicationsAICPA BB:LegalAICPA FN:Decision MakingDifficult)：EasyLeaniing Objective:C521.Accounting information is communicated to various parties through financial statements.TRUEAACSB:C om m unicationsAI CP A BB:IndustryAICPA F N:D ecision M akingD
27、 ifficult)：E asyLeant ing O bjective:C 522.The balance sheet shows whether or not the firm had net income or loss over a period oftime.FALSEAACSB:Com m unicationsAIC PA BB:IndustryAIC PA F N:ReportingD ifficulty:EasyLearning O bjective:C 523.The Financial Accounting Standards Board is the private gr
28、oup that sets both broad andspecific accounting principles.TRUEAACSB:C om m unicationsAICPA BB:LegalAIC PA F N:ReportingD ifficulty:EasyLearning O bjective:C 524.The business entity principle means that a business will continue operating for an indefiniteperiod of time.FALSEAACSB:C om m unicationsAI
29、CPA BB:IndustryAICPA F N:D ecision M akingD ifficulty:E asyLearning O bjective:C 525.Generally accepted accounting principles are the basic assumptions,concepts,andguidelines for preparing financial statements.TRUEAACSB:C onununicationsAIC PA B B:IndustryAl C PA F N:D ecision M akingD ifficulty:Easy
30、Learning O bjective:C 526.The business entity principle means that a business is accounted for separately from otherbusiness entities,including its owner or owners.TRUEAA C SB:C om m un ica tionsAIC PA B B:IndustryAIC PA F N:M easurem entD ifficulty:EasyLearning O bjective:C 527.As a general rule,re
31、venues should not be recognized in the accounting records until it isreceived in cash.FALSEAA C SB:C om m un icationsAICPA BB:IndustryAIC PA F N:M easurem entD ifficulty:EasyLearning O bjective:C 528.Specific accounting principles are basic assumptions,concepts,and guidelines forpreparing financial
32、statements and arise out of long-used accounting practice.FALSEAACSB:C om m unicationsAICPA BB:IndustryAICPA F N:D ecision M akingD ifficulty:EasyLeaniing O bjective:C 529.General accounting principles arise from long-used accounting practice.TRUEAACSB:CommunicationsAI CP A BB:IndustryAICPA FN:Decis
33、ion MakingDifficulty:MediumLeant ing Objective:C530.A sole proprietorship is a business owned by one or more persons.FALSEAA CSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLearning Objective:C531.Unlimited liability is an advantage of a sole proprietorship.FALSEAA CSB:Co
34、inmun icationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLearning Objective:C532.Understanding generally accepted accounting principles is not necessary to use andinterpret financial statements.FALSEAACSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLearning
35、 Objective:C533.The International Accounting Standards board(IASB)has the authority to impose itsstandards on companies around the world.FALSEAACSB:ConununicationsAICPA BB:IndustryAl CPA FN:Decision MakingDifficulty:MediumLearning Objective:C534.Objectivity means that financial information is suppor
36、ted by independent unbiasedevidence.TRUEAA CSB:Commun ica tionsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLearning Objective:C535.The idea that a business will continue to operate until it can sell its assets to pay its creditorsunderlies the going-concern assumption.FALSEAA CSB:Commu
37、n icationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLearning Objective:C536.According to the cost principle,it is preferable for managers to report an estimate of anassets value.FALSEAACSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:MediumLeaniing Objective:C537
38、.The monetary unit assumption means that all international transactions must be expressedin dollars.FALSEAACSB:CommunicationsAICPA BB:GlobalAI CPA FN:MeasurementDifficulty:MediumLearning Objective:C538.The International Accounting Standards Board(IASB)is the government group thatestablishes reportin
39、g requirements for companies that issue stock to the public.FALSEAA CSB:Commun ica tionsAICPA BB:LegalAICPA FN:Decision MakingDifficulty:MediumLearning Objective:C539.A limited liability company offers the limited liability of a partnership or proprietorship andthe tax treatment of a corporation.FAL
40、SEAA CSB:Commun icationsAICPA BB:LegalAICPA FN:Decision MakingDifficulty:HardLearning Objective:C540.The Securities and Exchange Commission(SEC)is the government group that establishesreporting requirements for companies that issue stock to the public.TRUEAACSB:CommunicationsAICPA BB:LegalAICPA FN:D
41、ecision MakingDifficulty:HardLeaniing Objective:C541.The Securities and Exchange Commission(SEC)is the private group that sets both broadand specific accounting standards.FALSEAACSB:CommunicationsAICPA BB:LegalAICPA FN:Decision MakingDifficulty：HardLearning Objective:C542.The three common forms of b
42、usiness ownership include sole proprietorship,partnership,and non-profit.FALSEAA CSB:Coinmun ica tionsAICPA BB:LegalAICPA FN:Decision MakingDifficulty:EasyLeanting Objective:C643.The three major types of business activities are operating,financing,and investing.TRUEAACSB:CommunicationsAICPA BB:Indus
43、tryAICPA FN:Decision MakingDifficulty:EasyLearning Objective:C644.Planning is defining an organizations ideas,goals,and actions.TRUEAACSB:CommunicationsAICPA BB:Critical ThinkingAICPA FN:Decision MakingDifficult)：EasyLeanting Objective:C645.Strategic management is the process of determining the righ
44、t mix of operating activities forthe type of organization,its plans,and its markets.TRUEAACSB:C om m unicationsAIC PA BB:Critical ThinkingAl C PA F N:D ecision M akingD ifficulty:M ediumLearning O bjective:C 646.Planning activities are the means an organization uses to pay for resources like land,bu
45、ildings,and equipment to carry out its plans.FALSEAA C SB:C om m un ica tionsAIC PA BB:Critical ThinkingAIC PA F N:D ecision M akingD ifficulty:M ediumLearning O bjective:C 647.The three major activities of a business are recording,financing,and investing.FALSEAACSB:C om m unicationsAICPA BB:Industr
46、yAIC PA F N:D ecision M akingD ifficulty:M ediumLearning O bjective:C 648.Investing activities are the acquiring and selling of resources that an organization uses toacquire and sell its products or services.TRUEAACSB:AnalyticAICPA BB:IndustryAICPA F N:D ecision M akingD ifficulty:H ardLearning O bj
47、ective:C 649.Owner financing refers to resources contributed by creditors or lenders.FALSEAACSB:AnalyticAICPA BB:IndustryAICPA FN;Decision MakingDifficulty:EasyLearning Objective:Al50.Revenues are increases in equity from a companys earning activities.TRUEAACSB:CommunicationsAICPA BB:IndustryAICPA F
48、N:Decision MakingDifficulty:EasyLearning Objective:A151.A net loss occurs when revenues exceed expenses.FALSEAACSB:AnalyticAICPA BB:Critical ThinkingAICPA FN:MeasurementDifficult)：EasyLearning Objective:Al52.Net income occurs when revenues exceed expenses.TRUEAACSB:AnalyticAICPA BB:Critical Thinking
49、AICPA FN:MeasurementDifficulty:EasyLearning Objective:A153.Expenses decrease equity and are the costs of assets or services used to earn revenues.TRUEAACSB:AnalyticAl CPA BB:Critical ThinkingAICPA FN:MeasurementDifficult)：EasyLeanting Objective:A/54.Liabilities are the owners claim on assets.FALSEAA
50、 CSB:CommunicationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:EasyLearning Objective:A/55.Assets are the resources owned or controlled by a business.TRUEAA CSB:Coinmun icationsAICPA BB:IndustryAICPA FN:Decision MakingDifficulty:EasyLearning Objective:A156.Withdrawals are expenses.FALSEAACSB