THE PURPOSE AND USE OF FINANCIAL STATEMENTS

Financial Accounting Tools for Business Decision Making, 8th Canadian Edition, 8e Kimmel, Weygandt, Kieso, Trenholm, Irvine, Burnley (Test Bank All Chapters Answers at the end of each Chapters) 1 / 4

Copyright © 2020 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited

CHAPTER 1

THE PURPOSE AND USE OF FINANCIAL STATEMENTS

SUMMARY OF QUESTION TYPES BY LEARNING OBJECTIVE, LEVEL OF

DIFFICULTY, BLOOM’S TAXONOMY , CPA CODES, AND AACSB CODES

Item LO LOD Bloom’s CPA AACSB Item LO LOD Bloom’s CPA AACSB Item LO LOD Bloom’s CPA AACSB True-False Statements

1. 1 E K F AN 13. 2 E K F AN 25. 4 M K F AN

2. 1 E C F AN 14. 2 E K F AN 26. 4 M K F AN

3. 1 E C F AN 15. 2 M K F AN 27. 4 E K F AN

4. 1 E K F AN 16. 2 E K F AN 28. 4 M K F AN

5. 1 E K F AN 17. 3 E K F AN 29. 4 E K F AN

6. 1 E K F AN 18. 3 E K F AN 30. 4 M C F AN

7. 1 M C F AN 19. 3 M K F AN 31. 4 E C F AN

8. 1 M C F AN 20. 3 E K F AN 32. 4 E K F AN

9. 1 M C F AN 21. 3 M K F AN 33. 4 M C F AN

10. 1 M C F AN 22. 3 E C F AN 34. 4 E K F AN

11. 1 M C F AN 23. 4 M K F AN

12. 2 E K F AN 24. 4 E K F AN

Multiple Choice Questions

35. 1 E K F AN 60. 3 E C F AN 85. 4 E C F AN

36. 1 E K F AN 61. 3 E C F AN 86. 4 E K F AN

37. 1 M K F AN 62. 3 M C F AN 87. 4 E C F AN

38. 1 M K F AN 63. 3 M K F AN 88. 4 H AP F AN

39. 1 E K F AN 64. 3 M K F AN 89. 4 M AP F AN

40. 1 E K F AN 65. 3 M C F AN 90. 4 M AP F AN

41. 1 E K F AN 66. 3 E K F AN 91. 4 M AP F AN

42. 1 E K F AN 67. 3 E C F AN 92. 4 M K F AN

43. 1 E K F AN 68. 3 E C F AN 93. 4 M C F AN

44. 1 E C F AN 69. 3 E K F AN 94. 4 M K F AN

45. 1 M C F AN 70. 3 E K F AN 95. 4 E K F AN

46. 1 E K F AN 71. 3 E K F AN

47. 2 E K F AN 72. 3 E K F AN

48. 2 M K F AN 73. 3 M C F AN 96. 4 M K F AN

49. 2 M K F AN 74. 3 E C F AN 97. 4 M C F AN

50. 2 M K F AN 75. 4 E C F AN 98. 4 M K F AN

51. 2 E K F AN 76. 4 M K F AN 99. 4 E K F AN

52. 2 E K F AN 77. 4 M C F AN 100. 4 E C F AN

53. 2 E C F AN 78. 4 E K F AN 101. 4 E K F AN

54. 2 E K F AN 79. 4 E C F AN 102. 4 E C F AN

55. 2 M K F AN 80. 4 M K F AN 103. 4 E C F AN

56. 2 E C F AN 81. 4 H C F AN 104. 4 H C F AN

57. 2 M K F AN 82. 4 E K F AN 105. 4 M C F AN

58. 3 E K F AN 83. 4 M C F AN 106. 4 M C F AN

59. 3 M C F AN 84. 4 E C F AN

LOD: E = Easy M = Medium H = Hard

Bloom’s: AN = Analysis AP = Application C = Comprehension K = Knowledge

CPA: F = Financial Reporting CM = Communication

AACSB: AN = Analytic E = Ethics 2 / 4

Test Bank for Financial Accounting: Tools for Business Decision-Making, EighthCanadian Edition

Copyright © 2020 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited

• - 2

SUMMARY OF QUESTION TYPES BY LEARNING OBJECTIVE, LEVEL OF

DIFFICULTY, BLOOM’S TAXONOMY, CPA CODES, AND AACSB CODES

(CONT’D)

Item LO LO D Bloom’ s CP A AACSB Item L O LO D Bloom’ s CP A AACS B Item L O LO D Bloom’ s

CPA AACS

B Exercises

107. 2 M C F AN 117. 4 E AP F AN 127. 4 E C F AN

108. 2 M C F AN 118. 4 M AP F AN 128. 4 E C F AN

109. 3 M C F AN 119. 4 E AP F AN 129. 4 E AP F AN

110. 3 M C F AN 120. 4 E C F AN 130. 4 E C F AN

111. 3 H AP F AN 121. 4 M AP F AN 131. 4 M AP F AN

112. 3 M AP F AN 122. 4 H AP F AN 132. 4 E AP F AN

113. 3 E C F AN 123. 4 E C F AN 133. 4 M AP F AN

114. 4 E K F AN 124. 4 H AP F AN 134. 4 H AP F AN

115. 4 H AP F AN 125. 4 E AP F AN

116. 4 M AP F AN 126. 4 E C F AN

Matching

135. 1-4 E,M K F AN

Short-Answer Essay

136. 1 E C F AN 140. 2 E K F AN 144. 4 E C F AN

137. 1 E C F AN 141. 4 H C F AN 145. 4 M C F,CM AN

138. 1 H C F AN 142. 4 E C F AN 146. 4 E C F AN

139. 1,2 M AP F AN, E 143. 4 M C F AN

CPA Questions

147. 1 M C F AN 149. 2 M K F AN 151. 4 M AN F AN

148. 2 M K F AN 150. 4 E K F AN

LOD: E = Easy M = Medium H = Hard

Bloom’s: AN = Analysis AP = Application C = Comprehension K = Knowledge

CPA: F = Financial Reporting CM = Communication

AACSB: AN = Analytic E = Ethics

• / 4

The Purpose and Use of Financial Statements

Copyright © 2020 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited

• - 3

SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE

Item Type Item Type Item Typ e Item Type Item Type Item Type Item Type Learning Objective 1

1. TF 6. TF 11. TF 39. MC 44. MC 137. SAE

2. TF 7. TF 35. MC 40. MC 45. MC 138. SAE

3. TF 8. TF 36. MC 41. MC 46. MC 139. SAE

• TF 9. TF 37. MC 42. MC 135. Ma 147. CP

5. TF 10. TF 38. MC 43. MC 136. SAE

Learning Objective 2

• TF 16. TF 50. MC 54. MC 107. Ex 140. SAE
• TF 47. MC 51. MC 55. MC 108. Ex 148. CP
• TF 48. MC 52. MC 56. MC 135. Ma 149. CP

15. TF 49. MC 53. MC 57. MC 139. SAE

Learning Objective 3

• TF 22. TF 62. MC 67. MC 72. MC 111. Ex
• TF 58. MC 63. MC 68. MC 73. MC 112. Ex
• TF 59. MC 64. MC 69. MC 74. MC 113. Ex
• TF 60. MC 65. MC 70. MC 109. Ex 135. Ma
• TF 61. MC 66. MC 71. MC 110. Ex

Learning Objective 4

• TF 34. TF 85. MC 96. MC 114. Ex 125. Ex 141. SAE
• TF 75. MC 86. MC 97. MC 115. Ex 126. Ex 142. SAE
• TF 76. MC 87. MC 98. MC 116. Ex 127. Ex 143. SAE
• TF 77. MC 88. MC 99. MC 117. Ex 128. Ex 144. SAE
• TF 78. MC 89. MC 100. MC 118. Ex 129. Ex 145. SAE
• TF 79. MC 90. MC 101. MC 119. Ex 130. Ex 146. SAE
• TF 80. MC 91. MC 102. MC 120. Ex 131. Ex 150. CP
• TF 81. MC 92. MC 103. MC 121. Ex 132. Ex 151. CP
• TF 82. MC 93. MC 104. MC 122. Ex 133. Ex
• TF 83. MC 94. MC 105. MC 123. Ex 134. Ex
• TF 84. MC 95. MC 106. MC 124. Ex 135. Ma

Note: TF = True-False Ma = Matching CP = CPA Questions

MC = Multiple Choice Ex = Exercise SAE = Short-Answer Essay

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