Question : 51.Information considered material if: a.it would have a bearing decisions of : 1253598

51.Information is considered material if:

a.it would have a bearing on decisions of those who use the financial statements.

b.there is a substantial likelihood that a reasonable investor would not be concerned about the information.

c.an item is so insignificant that users would likely ignore it.

d.the FASB explicitly rules the transaction or item to be material.

52.Why would a company recognize the cost of an asset on its balance sheet rather than treat it as an expense on the date it is acquired?

Conservatism requires this recognition.

Matching requires costs to be matched against the related revenues of the asset.

Strictly to record the amount in the most economically favorable manner possible for the company.

The stable dollar concept will not allow inflation to be added to expenses, but does allow inflation to be added to assets.

53.When in doubt, financial statements should:

understate assets, overstate liabilities, delay the recognition of gains, and accelerate the recognition of losses.

understate assets and liabilities and delay the recognition of gains and losses.

understate assets, overstate liabilities, and delay the recognition of gains and losses.

overstate assets and understate liabilities.

54.Jeter Company ordered 400 toy wagons from Lamar, Inc. on May 1, 2010. Jeter Company paid for them on May 20 at a cost of $2 each. Jeter sold 50 of them on June 2, 2010, for $4 each to Gilloz Company. Gilloz Company paid Jeter on June 10.

On which date should Jeter Company recognize revenue?

a.May 1

b.May 20

c.June 10

d.June 2

55.Jeter Company ordered 400 toy wagons from Lamar, Inc. on May 1, 2010. Jeter Company paid for them on May 20 at a cost of $2 each. Jeter sold 50 of them on June 2, 2010, for $4 each to Gilloz Company. Gilloz Company paid Jeter on June 10.

How much revenue should Jeter Company recognize at the preferred point of revenue recognition?

a.$240

b.$100

c.$1,000

d.$200

56.Jeter Company ordered 400 toy wagons from Lamar, Inc. on May 1, 2010. Jeter Company paid for them on May 20 at a cost of $2 each. Jeter sold 50 of them on June 2, 2010, for $4 each to Gilloz Company. Gilloz Company paid Jeter on June 10.

Which amount represents Jeter Company’s input markets related to this sale?

a.$300

b.$800

c.$1,600

d.$250

57.Equipment with an original cost of $39,000 has a fair market value of $34,000, current replacement cost of $41,000, and a depreciated value of $36,000 on December 31, 2010. At what amount would net equipment be measured on the December 31, 2010 balance sheet?

a.$38,000

b.$36,000

c.$41,000

d.$34,000

58.Short-term investments have an original cost of $29,000 and a market price of $31,000 at December 31, 2010. At what amount would the investments be measured on the December 31, 2010 balance sheet?

a.$29,000

b.$31,000

c.($2,000)

d.$2,000

59.Sheena Company has accounts receivable of $13,000, with an estimated net realizable value of $12,000 on December 31, 2010. At what amount would the accounts receivable be measured on the December 31, 2010 balance sheet?

a.$1,000

b.$13,000

c.$12,000

d.($1,000)

60.Seinfeld Company has land with an original cost of $68,000 and a fair market value of $81,000. Seinfeld has considered selling its business next year and listing the land with a realtor for $100,000. At what amount would land be measured on the December 31, 2010 balance sheet?

a.$100,000

b.$81,000

c.$15,000

d.$68,000

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July 1, 2023

Quiz 5

Question 1

1 out of 1 points

The writer of the Gospel of John identifies himself only as “the disciple Jesus loved.”

Question 2

1 out of 1 points

A slave’s birth was unimportant, so Mark does not include the birth of Christ.

Question 3

1 out of 1 points

The last twelve verses of Mark are included in the KJV but modern translations like the NASB, NKJV, ESV, HCSB, and NIV usually use footnotes or a combination of footnotes and brackets to indicate that some manuscripts lack the verses.

Question 4

1 out of 1 points

Which of the following is not a miracle that Jesus performed?

Question 5

1 out of 1 points

Which of the following books are Pauline Epistles?

Question 6

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 7

1 out of 1 points

The New Testament consists of twenty-seven books that were written in Koine Greek or common Greek.

Question 8

0 out of 1 points

Jesus asked James three times, “Do you love Me?” Upon Peter’s positive confession Jesus recommissioned him to service.

Question 9

1 out of 1 points

All of Jesus’ activity in Mark focus on His Judean ministry with the final week focused exclusively on activities in Jerusalem.

Question 10

1 out of 1 points

Because Matthew, Mark, and Luke have more stories in common with one another, these three Gospels are called the “_____________ Gospels.”

Question 11

0 out of 1 points

Which of the following books are General Epistles

Question 12

0 out of 1 points

Which of the following is not a parable of Jesus?

Question 13

1 out of 1 points

According to the Gospel of John Jesus’ mission to the Jews was highlighted by seven miraculous signs. One of these signs is

Question 14

1 out of 1 points

During Jesus’ post-resurrection appearances He comforted Mary, convinced Thomas of His resurrection, and reassured Peter that he was forgiven for denying Him.

Question 15

0 out of 1 points

John addresses his Gospel to Theophilus who may have been a Roman official or a nobleman who recently became a Christian.

Question 16

0 out of 1 points

Matthew’s Gospel opens with the genealogy of Jesus traced all the way back through King David and concluding with Isaac who was the child of promise.

Question 17

1 out of 1 points

The Acts of the Apostles covers the time from Pentecost to Paul’s imprisonment.

Question 18

0 out of 1 points

Mark recounts nearly _______ miracles of Jesus.

Question 19

1 out of 1 points

John sees prophetic fulfillment in the fact that when they pierced Jesus’ side with a spear both blood and water came out at once.

Question 20

0 out of 1 points

Matthew’s portrait of Christ is that of

Question 21

1 out of 1 points

In the Gospels, __________, Paul’s physician-missionary, writes with the Greek mentality in view.

Question 22

1 out of 1 points

The content of the New Testament Letters is doctrinal and personal.

Question 23

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 24

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 25

1 out of 1 points

In John 3 Jesus met _______________, a Jewish ruler in Jerusalem, to whom He explains what it means to be “born again.”

Question 26

1 out of 1 points

At his crucifixion Jesus asked for a drink. John view this as a prophetic fulfillment.

Question 27

1 out of 1 points

Which of the following is not a parable of Jesus?

Question 28

1 out of 1 points

The book of Revelation was written by John on the island of

Question 29

1 out of 1 points

In contrast to the Synoptic Gospels, the Gospel of John focuses more on the seven _________________ of Christ.

Question 30

1 out of 1 points

Matthew’s Gospel describes five extended teaching sessions, which are arranged in five major discourses. This was done so that readers could better follow what Jesus said about specific subjects.

Question 31

1 out of 1 points

John wants Theophilus and other readers to “know the certainty of the things about which you have been instructed.”

Question 32

1 out of 1 points

Matthew originally crafted this Gospel for a group of Christians who needed to become more familiar with the Old Testament.

Question 33

1 out of 1 points

The Gospel of Matthew provides some of Jesus’ most prominent sermons, parables, and miracles, plus a record of important messages such as the Sermon on the Mount, the parables of the kingdom, and the Olivet Discourse.

Question 34

1 out of 1 points

In the Gospels, _________, the travel companion of Paul and Peter, writes for the Roman mind.

Question 35

1 out of 1 points

Because Luke was a physician, there seems to be an interest in sickness and healing in the Third Gospel.

Question 36

1 out of 1 points

The book of Acts begins with the ascension of Christ and His commission to the apostles to take the gospel message from Jerusalem to the rest of the world.

Question 37

1 out of 1 points

According to our textbook, Mark’s theological purpose was to explain the most significant life in all of human history.

Question 38

1 out of 1 points

The Mark who authored the Gospel of Mark is not the John Mark that Paul did not want to take with him on his second missionary journey.

Question 39

1 out of 1 points

All the authors of the New Testament were Jews, with the possible exception of the Roman citizen Paul.

Question 40

1 out of 1 points

According to our textbook, the book of Revelation is written in apocalyptic symbolism and makes use of numbers, animals, and colors as graphic symbols of prophetic realties.

Question 41

0 out of 1 points

The typical letters of the Greco-Roman period included an address, a greeting, a body, and a conclusion.

Question 42

1 out of 1 points

Matthew’s Gospel names no audience for its message other than that which is implied in its Great Commission. Its message was ultimately intended to go to “all nations.”

Question 43

0 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 44

0 out of 1 points

Which of the following is not a parable of Jesus?

Question 45

1 out of 1 points

Jesus was buried in a new tomb by Nicodemus and Joseph of Arimathea.

Question 46

1 out of 1 points

In the Gospels, _____________, the Hebrew tax collector, writes for the Hebrew mind.

Question 47

1 out of 1 points

There is no purposeful arrangement to the letters as they are presented in the New Testament.

Question 48

0 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 49

1 out of 1 points

Mark’s writing is action packed, forceful, fresh, vivid, dramatic, realistic, graphic, simple, direct, swift, rough, brief, and to the point.

Question 50

0 out of 1 points

Mark’s portrait of Christ is that of

July 1, 2023

Quiz 5

Question 1

1 out of 1 points

The writer of the Gospel of John identifies himself only as “the disciple Jesus loved.”

Question 2

1 out of 1 points

A slave’s birth was unimportant, so Mark does not include the birth of Christ.

Question 3

1 out of 1 points

Question 4

1 out of 1 points

Which of the following is not a miracle that Jesus performed?

Question 5

1 out of 1 points

Which of the following books are Pauline Epistles?

Question 6

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 7

1 out of 1 points

The New Testament consists of twenty-seven books that were written in Koine Greek or common Greek.

Question 8

0 out of 1 points

Jesus asked James three times, “Do you love Me?” Upon Peter’s positive confession Jesus recommissioned him to service.

Question 9

1 out of 1 points

All of Jesus’ activity in Mark focus on His Judean ministry with the final week focused exclusively on activities in Jerusalem.

Question 10

1 out of 1 points

Because Matthew, Mark, and Luke have more stories in common with one another, these three Gospels are called the “_____________ Gospels.”

Question 11

0 out of 1 points

Which of the following books are General Epistles

Question 12

0 out of 1 points

Which of the following is not a parable of Jesus?

Question 13

1 out of 1 points

According to the Gospel of John Jesus’ mission to the Jews was highlighted by seven miraculous signs. One of these signs is

Question 14

1 out of 1 points

During Jesus’ post-resurrection appearances He comforted Mary, convinced Thomas of His resurrection, and reassured Peter that he was forgiven for denying Him.

Question 15

0 out of 1 points

John addresses his Gospel to Theophilus who may have been a Roman official or a nobleman who recently became a Christian.

Question 16

0 out of 1 points

Matthew’s Gospel opens with the genealogy of Jesus traced all the way back through King David and concluding with Isaac who was the child of promise.

Question 17

1 out of 1 points

The Acts of the Apostles covers the time from Pentecost to Paul’s imprisonment.

Question 18

0 out of 1 points

Mark recounts nearly _______ miracles of Jesus.

Question 19

1 out of 1 points

John sees prophetic fulfillment in the fact that when they pierced Jesus’ side with a spear both blood and water came out at once.

Question 20

0 out of 1 points

Matthew’s portrait of Christ is that of

Question 21

1 out of 1 points

In the Gospels, __________, Paul’s physician-missionary, writes with the Greek mentality in view.

Question 22

1 out of 1 points

The content of the New Testament Letters is doctrinal and personal.

Question 23

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 24

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 25

1 out of 1 points

In John 3 Jesus met _______________, a Jewish ruler in Jerusalem, to whom He explains what it means to be “born again.”

Question 26

1 out of 1 points

At his crucifixion Jesus asked for a drink. John view this as a prophetic fulfillment.

Question 27

1 out of 1 points

Which of the following is not a parable of Jesus?

Question 28

1 out of 1 points

The book of Revelation was written by John on the island of

Question 29

1 out of 1 points

In contrast to the Synoptic Gospels, the Gospel of John focuses more on the seven _________________ of Christ.

Question 30

1 out of 1 points

Matthew’s Gospel describes five extended teaching sessions, which are arranged in five major discourses. This was done so that readers could better follow what Jesus said about specific subjects.

Question 31

1 out of 1 points

John wants Theophilus and other readers to “know the certainty of the things about which you have been instructed.”

Question 32

1 out of 1 points

Matthew originally crafted this Gospel for a group of Christians who needed to become more familiar with the Old Testament.

Question 33

1 out of 1 points

Question 34

1 out of 1 points

In the Gospels, _________, the travel companion of Paul and Peter, writes for the Roman mind.

Question 35

1 out of 1 points

Because Luke was a physician, there seems to be an interest in sickness and healing in the Third Gospel.

Question 36

1 out of 1 points

The book of Acts begins with the ascension of Christ and His commission to the apostles to take the gospel message from Jerusalem to the rest of the world.

Question 37

1 out of 1 points

According to our textbook, Mark’s theological purpose was to explain the most significant life in all of human history.

Question 38

1 out of 1 points

The Mark who authored the Gospel of Mark is not the John Mark that Paul did not want to take with him on his second missionary journey.

Question 39

1 out of 1 points

All the authors of the New Testament were Jews, with the possible exception of the Roman citizen Paul.

Question 40

1 out of 1 points

According to our textbook, the book of Revelation is written in apocalyptic symbolism and makes use of numbers, animals, and colors as graphic symbols of prophetic realties.

Question 41

0 out of 1 points

The typical letters of the Greco-Roman period included an address, a greeting, a body, and a conclusion.

Question 42

1 out of 1 points

Matthew’s Gospel names no audience for its message other than that which is implied in its Great Commission. Its message was ultimately intended to go to “all nations.”

Question 43

0 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 44

0 out of 1 points

Which of the following is not a parable of Jesus?

Question 45

1 out of 1 points

Jesus was buried in a new tomb by Nicodemus and Joseph of Arimathea.

Question 46

1 out of 1 points

In the Gospels, _____________, the Hebrew tax collector, writes for the Hebrew mind.

Question 47

1 out of 1 points

There is no purposeful arrangement to the letters as they are presented in the New Testament.

Question 48

0 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 49

1 out of 1 points

Mark’s writing is action packed, forceful, fresh, vivid, dramatic, realistic, graphic, simple, direct, swift, rough, brief, and to the point.

Question 50

0 out of 1 points

Mark’s portrait of Christ is that of

July 1, 2023

Quiz 5

Question 1

1 out of 1 points

The writer of the Gospel of John identifies himself only as “the disciple Jesus loved.”

Question 2

1 out of 1 points

A slave’s birth was unimportant, so Mark does not include the birth of Christ.

Question 3

1 out of 1 points

Question 4

1 out of 1 points

Which of the following is not a miracle that Jesus performed?

Question 5

1 out of 1 points

Which of the following books are Pauline Epistles?

Question 6

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 7

1 out of 1 points

The New Testament consists of twenty-seven books that were written in Koine Greek or common Greek.

Question 8

0 out of 1 points

Jesus asked James three times, “Do you love Me?” Upon Peter’s positive confession Jesus recommissioned him to service.

Question 9

1 out of 1 points

All of Jesus’ activity in Mark focus on His Judean ministry with the final week focused exclusively on activities in Jerusalem.

Question 10

1 out of 1 points

Because Matthew, Mark, and Luke have more stories in common with one another, these three Gospels are called the “_____________ Gospels.”

Question 11

0 out of 1 points

Which of the following books are General Epistles

Question 12

0 out of 1 points

Which of the following is not a parable of Jesus?

Question 13

1 out of 1 points

According to the Gospel of John Jesus’ mission to the Jews was highlighted by seven miraculous signs. One of these signs is

Question 14

1 out of 1 points

During Jesus’ post-resurrection appearances He comforted Mary, convinced Thomas of His resurrection, and reassured Peter that he was forgiven for denying Him.

Question 15

0 out of 1 points

John addresses his Gospel to Theophilus who may have been a Roman official or a nobleman who recently became a Christian.

Question 16

0 out of 1 points

Matthew’s Gospel opens with the genealogy of Jesus traced all the way back through King David and concluding with Isaac who was the child of promise.

Question 17

1 out of 1 points

The Acts of the Apostles covers the time from Pentecost to Paul’s imprisonment.

Question 18

0 out of 1 points

Mark recounts nearly _______ miracles of Jesus.

Question 19

1 out of 1 points

John sees prophetic fulfillment in the fact that when they pierced Jesus’ side with a spear both blood and water came out at once.

Question 20

0 out of 1 points

Matthew’s portrait of Christ is that of

Question 21

1 out of 1 points

In the Gospels, __________, Paul’s physician-missionary, writes with the Greek mentality in view.

Question 22

1 out of 1 points

The content of the New Testament Letters is doctrinal and personal.

Question 23

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 24

1 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 25

1 out of 1 points

In John 3 Jesus met _______________, a Jewish ruler in Jerusalem, to whom He explains what it means to be “born again.”

Question 26

1 out of 1 points

At his crucifixion Jesus asked for a drink. John view this as a prophetic fulfillment.

Question 27

1 out of 1 points

Which of the following is not a parable of Jesus?

Question 28

1 out of 1 points

The book of Revelation was written by John on the island of

Question 29

1 out of 1 points

In contrast to the Synoptic Gospels, the Gospel of John focuses more on the seven _________________ of Christ.

Question 30

1 out of 1 points

Matthew’s Gospel describes five extended teaching sessions, which are arranged in five major discourses. This was done so that readers could better follow what Jesus said about specific subjects.

Question 31

1 out of 1 points

John wants Theophilus and other readers to “know the certainty of the things about which you have been instructed.”

Question 32

1 out of 1 points

Matthew originally crafted this Gospel for a group of Christians who needed to become more familiar with the Old Testament.

Question 33

1 out of 1 points

Question 34

1 out of 1 points

In the Gospels, _________, the travel companion of Paul and Peter, writes for the Roman mind.

Question 35

1 out of 1 points

Because Luke was a physician, there seems to be an interest in sickness and healing in the Third Gospel.

Question 36

1 out of 1 points

The book of Acts begins with the ascension of Christ and His commission to the apostles to take the gospel message from Jerusalem to the rest of the world.

Question 37

1 out of 1 points

According to our textbook, Mark’s theological purpose was to explain the most significant life in all of human history.

Question 38

1 out of 1 points

The Mark who authored the Gospel of Mark is not the John Mark that Paul did not want to take with him on his second missionary journey.

Question 39

1 out of 1 points

All the authors of the New Testament were Jews, with the possible exception of the Roman citizen Paul.

Question 40

1 out of 1 points

According to our textbook, the book of Revelation is written in apocalyptic symbolism and makes use of numbers, animals, and colors as graphic symbols of prophetic realties.

Question 41

0 out of 1 points

The typical letters of the Greco-Roman period included an address, a greeting, a body, and a conclusion.

Question 42

1 out of 1 points

Matthew’s Gospel names no audience for its message other than that which is implied in its Great Commission. Its message was ultimately intended to go to “all nations.”

Question 43

0 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 44

0 out of 1 points

Which of the following is not a parable of Jesus?

Question 45

1 out of 1 points

Jesus was buried in a new tomb by Nicodemus and Joseph of Arimathea.

Question 46

1 out of 1 points

In the Gospels, _____________, the Hebrew tax collector, writes for the Hebrew mind.

Question 47

1 out of 1 points

There is no purposeful arrangement to the letters as they are presented in the New Testament.

Question 48

0 out of 1 points

John uses this central “I am” declaration to affirm the deity of Christ. One of these “I Am” declarations is:

Question 49

1 out of 1 points

Mark’s writing is action packed, forceful, fresh, vivid, dramatic, realistic, graphic, simple, direct, swift, rough, brief, and to the point.

Question 50

0 out of 1 points

Mark’s portrait of Christ is that of

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Question : 51.Information considered material if: a.it would have a bearing decisions of : 1253598

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