Scribd
Upload
57 views4 pages

FAR Chapter 4

The document contains answers to various problems related to accounting, including true/false statements, multiple-choice questions, and classifications of accounts. It covers topics such as balance sheet accounts, income statement accounts, and specific financial terms. Each problem is numbered and provides a clear set of responses.

Uploaded by

shamira.sandrine24
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
57 views4 pages

FAR Chapter 4

The document contains answers to various problems related to accounting, including true/false statements, multiple-choice questions, and classifications of accounts. It covers topics such as balance sheet accounts, income statement accounts, and specific financial terms. Each problem is numbered and provides a clear set of responses.

Uploaded by

shamira.sandrine24
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

FAR CHAPTER 4

Problem 1

1. FALSE
2. TRUE
3. TRUE
4. TRUE
5. FALSE
6. TRUE
7. TRUE
8. FALSE
9. TRUE
10. FALSE

Problem 2

1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. TRUE
6. FALSE
7. TRUE
8. TRUE
9. FALSE
10. TRUE

Problem 3

1. D
2. D
3. D
4. C
5. B
6. A
7. B
8. A
9. C
10. B

Problem 4

1. ASSET BALANCE SHEET ACCOUNT


2. EXPENSE INCOME STATEMENT ACCOUNT
3. ASSET BALANCE SHEET ACCOUNT
4. LIABILITY BALANCE SHEET ACCOUNT
5. EXPENSE INCOME STATEMENT ACCOUNT
6. EQUITY BALANCE SHEET ACCOUNT
7. INCOME INCOME STATEMENT ACCOUNT
8. ASSET BALANCE SHEET ACCOUNT
9. INCOME INCOME STATEMENT ACCOUNT
10. ASSET BALANCE SHEET ACCOUNT
11. ASSET BALANCE SHEET ACCOUNT
12. LIABILITY BALANCE SHEET ACCOUNT
13. EXPENSE INCOME STATEMENT ACCOUNT
14. INCOME INCOME STATEMENT ACCOUNT
15. LIABILITY BALANCE SHEET ACCOUNT

Problem 5

1. EXPENSE INCOME STATEMENT ACCOUNT


2. ASSET BALANCE SHEET ACCOUNT
3. EXPENSE INCOME STATEMENT ACCOUNT
4. EXPENSE INCOME STATEMENT ACCOUNT
5. ASSET BALANCE SHEET ACCOUNT
6. ASSET BALANCE SHEET ACCOUNT
7. LIABILITY BALANCE SHEET ACCOUNT
8. ASSET BALANCE SHEET ACCOUNT
9. ASSET BALANCE SHEET ACCOUNT
10. EXPENSE INCOME STATEMENT ACCOUNT
11. ASSET BALANCE SHEET ACCOUNT
12. LIABILITY BALANCE SHEET ACCOUNT
13. INCOME INCOME STATEMENT ACCOUNT
14. ASSET BALANCE SHEET ACCOUNT
15. ASSET BALANCE SHEET ACCOUNT

Problem 6

1. INCOME
2. ACCOUNTS RECEIVABLE
3. INVENTORY
4. ADVERTISING EXPENSE
5. BALANCE SHEET (OR THE STATEMENT OF FINANCIAL POSITION)
6. BAD DEBT EXPENSE
7. SALES
8. COST OF SALES (OR COST OF GOODS SOLD)
9. SUPPLIES EXPENSE
10. NOTES PAYABLE

Problem 7

1. INCOME STATEMENT (OR THE STATEMENT OF PROFIT OR LOSS)


2. FREIGHT-OUT
3. ACCOUNTS PAYABLE
4. PREPAID SUPPLIES
5. UNEARNED INCOME
6. MISCELLANEOUS EXPENSE
7. UTILITIES EXPENSE
8. ALLOWANCE FOR BAD DEBTS
9. DEPRECIATION EXPENSE
10. ACCUMULATED DEPRECIATION

Problem 8

1. D
2. D
3. A
4. B
5. A
6. B
7. A
8. C
9. A
10. D

Problem 9

1. A
2. D
3. A
4. A
5. B
6. A
7. B
8. A
9. B
10. A

Problem 10

1. C
2. B
3. A
4. B
5. D
6. C
7. C
8. B
9. C
10. D
Problem 11

1. B
2. D
3. C
4. A
5. B
6. B
7. C
8. B
9. A
10. C

You might also like