Intermediate Accounting, 11th Edition by David
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Full Test Bank For
Intermediate Accounting, 11th Edition
Answer Key
Test name: chapter 1
1)
TERM PHRASE Term number
that matches
the phrase.
1. Predictive value Information is useful in 1
projecting cash flows.
2. Relevance Pertinent to the decision at 2
hand.
3. Distribution to Information is available prior 5
owners to the decision.
4. Confirmatory Decrease in equity due to 3
value transfers to owners.
5. Timeliness Information confirms 4
expectations.
2)
TERM PHRASE Term number
that matches
the phrase.
1. Gain Along with relevance, a 5
fundamental decision-specific
quality.
2. Materiality Results if an asset is sold for 1
more than book value.
3. Completeness Contains all information 3
necessary for faithful
representation.
4. Comprehensive The change in equity from 4
income nonowner transactions.
Version 1 1
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