Test Bank for Financial Accounting, 12th Edition by Jerry J. Weygandt
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Course
Advanced Accounting
Institution
Advanced Accounting
Test Bank for Financial Accounting 12e 12th Edition by Jerry J. Weygandt, Paul D. Kimmel; Jill E. Mitchell. Full Chapters test bank are included (Chapter 1 to 13 + Appendix F,G,H,I,K)
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Test Bank for Financial Accouning 12th Edition Weygandt
All Chapters are included
Financial Accounting, 12e (Weygandt)
Appendix F Time Value of Money
1) Interest is the difference between the amount borrowed and the principal.
Answer: FALSE
Diff: 1
LO: 1, Section 1
Bloom / IFRS: K
AACSB / IMA: Reflective Thinking; Investment Decision
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
2) Compound interest is computed on the principal and any interest earned that has not been paid
or received.
Answer: TRUE
Diff: 1
LO: 1, Section 1
Bloom / IFRS: K
AACSB / IMA: Reflective Thinking; Investment Decision
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
3) The future value of a single amount is the value at a future date of a given amount invested
now, assuming compound interest.
Answer: TRUE
Diff: 1
LO: 1, Section 1
Bloom / IFRS: K
AACSB / IMA: Reflective Thinking; Investment Decision
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
4) When the periodic payments are not equal in each period, the future value can be computed
by using a future value of an annuity table.
Answer: FALSE
Diff: 1
LO: 1, Section 1
Bloom / IFRS: C
AACSB / IMA: Reflective Thinking; Investment Decision
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
1
, 5) The process of determining the present value is referred to as discounting the future amount.
Answer: TRUE
Diff: 1
LO: 2, Section 2
Bloom / IFRS: K
AACSB / IMA: Reflective Thinking; Investment Decision
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
7) In computing the present value of an annuity, it is not necessary to know the number of
discount periods.
Answer: FALSE
Diff: 1
LO: 2, Section 2
Bloom / IFRS: C
AACSB / IMA: Reflective Thinking; Investment Decision
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
8) The present value of a long-term note or bond is a function of two variables.
Answer: FALSE
Diff: 1
LO: 2, Section 2
Bloom / IFRS: K
AACSB / IMA: Reflective Thinking; Investment Decision
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
9) The present value of an annuity is the value now of a series of future receipts or payments,
discounted assuming compound interest.
Answer: TRUE
Diff: 1
LO: 2, Section 2
Bloom / IFRS: K
AACSB / IMA: Reflective Thinking; Decision Analysis
AICPA: BB: Resource Management; FC: Measurement; PC: Project Management
Min: 1
2
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