TEST BANK to accompany FINANCIAL ACCOUNTING SIXTH EDITION JERRY J WEYGANDT Ph.D., C.P.A Arthur Andersen Alumni Professor of Accounting University of Wisconsin—Madison Madison, Wisconsin PAUL D KIMMEL Ph.D., C.P.A Associate Professor of Accounting University of Wisconsin—Milwaukee Milwaukee, Wisconsin DONALD E KIESO Ph.D., C.P.A KPMG Peat Marwick Emeritus Professor of Accountancy Northern Illinois University DeKalb, Illinois Prepared by Lynn Stallworth, Southeastern Louisiana University Larry Falcetto, Emporia State University Dick Wasson, Southwestern College John Wiley & Sons, Inc Cover Image: Pacific Stock/SuperStock Bicentennial Logo Design: Richard J Pacifico Copyright © 2009 John Wiley & Sons, Inc All rights reserved Excerpts from this work may be reproduced by instructors for distribution on a not-for-profit basis for testing or instructional purposes only to students enrolled in courses for which the textbook has been adopted Any other reproduction or translation of this work beyond that permitted by Sections 107 or 108 of the 1976 United States Copyright Act without the permission of the copyright owner is unlawful Requests for permission or further information should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774 To order books or for customer service, please call 1-800-CALL-WILEY (225-5945) ISBN-13 978-0-470-17413-5 Printed in the United States of America 10 Printed and bound by Integrated Book Technology, Inc CONTENTS Preface To the Instructor Chapter Accounting in Action Chapter The Recording Process Chapter Adjusting the Accounts Chapter Completing the Accounting Cycle Chapter Accounting for Merchandising Operations Chapter Inventories Chapter Accounting Principles Chapter Internal Control and Cash Chapter Accounting for Receivables Chapter 10 Plant Assets, Natural Resources, and Intangible Assets Chapter 11 Liabilities Chapter 12 Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings Chapter 13 Investments Chapter 14 The Statement of Cash Flows Chapter 15 Financial Statement Analysis Appendices C-F: Available online, IRCD, and computerized test bank Achievement Tests 1-7: Available online, the IRCD, and computerized test bank Comprehensive Exams A-D: Available online, the IRCD, and computerized test bank Final Exam: Available online, IRCD, and computerized test bank All About You Exercises: Available online, IRCD, and computerized test bank Preface to the Instructor This examination book contains a test bank of exercises, brief exercises, true/false statements, multiple choice questions, completion statements, matching problems, and essay questions for testing students who are learning accounting from Financial Accounting, Tools for Business Decision Making, Sixth Edition by Jerry J Weygandt, Paul D Kimmel, and Donald E Kieso (John Wiley & Sons, Inc 2008) The test bank features a collection of over 2,600 examination questions and exercises accompanied by answers and solutions Each chapter includes a Summary of Questions by Study Objectives and a Summary of Study Objectives by Question Type linking test items to Study Objectives Exercises are also identified by estimated completion time Essay questions are included in each chapter of the Examination Book, in response to the AECC recommendations A new algorithmic computerized test bank containing all content from this test bank can be found on the Instructor’s Resource CD (IRCD) and Instructor’s web site that accompany Financial Accounting, Tools for Business Decision Making, Sixth Edition We sincerely thank Lynn Stallworth, Larry Falcetto, and Dick Wasson for their expert assistance in the production of this examination book We also would like to thank Terry Elliott of Morehead State University, James Emig of Villanova University, Paul (Jep) Robertson of Henderson State University, Rex Schildhouse of San Diego Community College - Miramar Campus, and Bernie Wienrich of Lindenwood University for their help in accuracy checking this Test Bank JERRY J WEYGANDT PAUL D KIMMEL DONALD E KIESO ... TEST BANK to accompany FINANCIAL ACCOUNTING SIXTH EDITION JERRY J WEYGANDT Ph.D., C.P.A Arthur Andersen Alumni Professor of Accounting University of Wisconsin—Madison... IRCD, and computerized test bank Final Exam: Available online, IRCD, and computerized test bank All About You Exercises: Available online, IRCD, and computerized test bank Preface to the Instructor... learning accounting from Financial Accounting, Tools for Business Decision Making, Sixth Edition by Jerry J Weygandt, Paul D Kimmel, and Donald E Kieso (John Wiley & Sons, Inc 2008) The test bank