BE 01.10 – Objectives of Financial Accounting (Yes & No)
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given a list of objectives… determine whether they are objectives of financial accounting or not.
Given a list of objectives… determine whether they are objectives of financial accounting or not.
Given a list of careers… indicate whether they can be pursued using a degree in accounting.
Given definitions… match the component of relevance with the definition.
Match each of the given definitions to the faithful representation.
For each of the following items, identify the appropriate financial statement element or elements: (1) probable future sacrifices of economic benefits; (2) probable future economic benefits owned by the company; (3) inflows of assets from ongoing, major activities; (4) decrease in equity from peripheral or incidental transactions.
Show the accounting concept that applies.
Identify the accounting concept violated.
Agree or disagree and state accounting concept applied.
Issac Aircams spy cameras. Classify each cost listed as either a product cost or a period cost.
The PC Works assembles computers Indicate whether it would be classified as direct materials, direct labor, manufacturing overhead, selling, or an administrative.