ch__wild_fap_e_test_bank_wac
104页1、Chapter 2 ANALYZING AND RECORDING TRANSACTIONSTrue /False Questions1.The first step in the processing of a transaction is to analyze the transaction and source documents.Answer: TrueBlooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objective: 02-C1Topic: Processing Transactions2.Preparation of a trial balance is the first step in the analyzing and recording process.Answer: FalseBlooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN:
2、 Decision MakingDifficulty: 1 EasyLearning Objective: 02-C1Topic: Processing Transactions3.Source documents provide evidence of business transactions and are the basis for accounting entries.Answer: TrueBlooms: Remember AACSB: CommunicationAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objective: 02-C1Topic: Processing Transactions4.Items such as sales tickets, bank statements, checks, and purchase orders are source documents.Answer: TrueBlooms: RememberAACSB: Communicatio
3、nAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objective: 02-C1Topic: Processing Transactions5.An account is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item.Answer: TrueBlooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objective: 02-C2Topic: Accounts6.A customers promise to pay is called an account payable to the seller.Answer: FalseBlooms: RememberAACSB: Communica
4、tionAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objective: 02-C2Topic: Accounts7.Withdrawals by the owner are a business expense.Answer: FalseBlooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objective: 02-C2Topic: Accounts8.Land and buildings are generally recorded in the same ledger account.Answer: FalseBlooms: RememberAACSB: CommunicationAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: 1 EasyLearning Objec
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