Download Horngren's Accounting 11th Edition Test Bank Miller-Nobles PDF

TitleHorngren's Accounting 11th Edition Test Bank Miller-Nobles
TagsDepreciation Debits And Credits Expense Accrual Basis Of Accounting
File Size830.1 KB
Total Pages67
Document Text Contents
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Horngren's Accounting 11th Edition Test Bank Miller-Nobles

TEST BANK for Horngren's Accounting 11th Edition by Tracie L.

Miller-Nobles , Brenda L. Mattison, Ella Mae Matsumura. All chapters

instant download:

https://testbankreal.com/download/horngrens-accounting-11th-edition-test-

bank-miller-nobles-mattison-matsumura/


Horngren's Accounting,11e (Miller-Nobles)

Chapter 3 The Adjusting Process



Learning Objective 3-1


1) The major difference between a cash basis accounting system and an accrual basis accounting system is

the timing of recording revenues and assets.

Answer: FALSE
Diff: 1

LO: 3-1

AICPA Functional: Measurement

PE Question Type: Concept

H2 : What Is the Difference Between Cash Basis Accounting and Accrual Basis Accounting? (H1)



2) Recipes, Inc. purchased $2,000 of supplies on account. Under the accrual basis of accounting, no entry

is made until the amount is paid.

Answer: FALSE
Diff: 1

LO: 3-1

AICPA Functional: Measurement

PE Question Type: Concept

H2 : What Is the Difference Between Cash Basis Accounting and Accrual Basis Accounting? (H1)



3) In cash basis accounting, revenue is recorded when cash is received, and expenses are recorded when

they are paid.

Answer: TRUE
Diff: 1

LO: 3-1

AICPA Functional: Measurement

PE Question Type: Concept

H2 : What Is the Difference Between Cash Basis Accounting and Accrual Basis Accounting? (H1)



4) Under accrual basis accounting, revenue is recorded only when cash is received.

Answer: FALSE
Diff: 1

LO: 3-1

AICPA Functional: Measurement

PE Question Type: Concept

H2 : What Is the Difference Between Cash Basis Accounting and Accrual Basis Accounting? (H1)



5) Under cash basis accounting, revenue is recorded when it is earned, regardless of when cash is

received.

https://testbankreal.com/download/horngrens-accounting-11th-edition-test-bank-miller-nobles-mattison-matsumura/
https://testbankreal.com/download/horngrens-accounting-11th-edition-test-bank-miller-nobles-mattison-matsumura/

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