Question : 51. _____ means that the information presented reasonably free from error : 1230535

Accounting

51. _____ means that the information presented is reasonably free from error and bias and faithfully represents what it purports to represent.
A. Conservatism
B. Realization
C. Relevance
D. Reliability
E. Recognition

52. Historically, _____ has described a preference for financial reporting such “that possible errors in measurement be in the direction of understatement rather than overstatement of net income and net assets.”
A. conservatism
B. reliability
C. realization
D. recognition
E. relevance

53. _____ is the basis for the practice of reporting certain assets at the lower of acquisition cost or fair value. The requirement to test assets for impairment and to record impairment charges rests on the notion that balance sheet carrying values of assets should not exceed the amount of cash that the firm expects to receive by using or selling the asset.
A. Conservatism
B. Reliability
C. Relevance
D. Recognition
E. Realization

54. An accounting _____ arises when a firm incurs an obligation to make a future sacrifice that, because of a past event or transaction, it has little or no discretion to avoid.
A. asset
B. liability
C. shareholders’ equity
D. revenue
E. expense

55. Which of the following are true regarding accounting liabilities
A. all accounting liabilities are obligations
B. not all obligations are accounting liabilities
C. an item must meet the definition of a liability
D. an item must recognition criteria
E. all of the above

56. _____ are probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of a past event or transaction.
A. Assets
B. Liabilities
C. Shareholders’ equity
D. Revenues
E. Expenses

57. The criteria for liability recognition include:
A. The item represents a present obligation, not a potential future commitment or intent.
B. The obligation must exist as a result of a past transaction or exchange, called the obligating event.
C. The obligation must require a probable future economic resource that the firm has little or no discretion to avoid.
D. The obligation must have a relevant measurement attribute that the firm can quantify with sufficient reliability.
E. all of the above

58. _____ is a residual interest or claim—that is, the owners (shareholders) of a firm have a claim on assets not required to meet the claims of creditors.
A. Retained Earnings
B. Shareholders’ equity
C. Additional Paid-in-Capital
D. Deficit
E. Par Value

59. The measurement of the assets and liabilities on the balance sheet also determines the measurement of ______________..
A. additional paid-in-capital
B. common stock
C. retained earnings
D. total shareholders’ equity
E. par value

60. Corporate laws within many jurisdictions require that, within _____, firms distinguish between amounts received from owners and amounts generated by operations which the firm has not distributed to owners.
A. cash
B. shareholders’ equity
C. retained earnings
D. paid-in-capital
E. par value

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July 1, 2023

61. Which of the following statements regarding intermolecular forces is incorrect?

A)Hydrogen bonding is the strongest of the intermolecular forces.

B)London dispersion forces increase with increasing molecular size.

C)Dipole-dipole forces are present in all atoms and molecules.

D)In order for a pure substance to participate in hydrogen bonding, it must have hydrogen bonded to F, O, or N.

E)Intermolecular forces are much weaker than bonding forces.

62. Which of the following statements regarding intermolecular forces is incorrect?

A)Hydrogen bonding is the strongest of the intermolecular forces for substances of similar molar mass.

B)London dispersion forces are present in all atoms and molecules.

C)Dipole-dipole forces increase with increasing molecular size.

D)Bonding forces are much stronger than intermolecular forces.

E)Hydrogen bonding is the reason for the abnormally high boiling point of water.

63. Which choice correctly lists the intermolecular forces present in CH3NH2?

A)London forces only

B)dipole-dipole forces only

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)hydrogen bonding only

64. Which choice correctly lists the intermolecular forces present in CH4?

A)London forces only

B)London forces and dipole-dipole forces

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)London forces and hydrogen bonding

65. Which choice correctly lists the intermolecular forces present in CH3Br?

A)London forces only

B)London forces and dipole-dipole forces

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)London forces and hydrogen bonding

66. Arrange the following substances in order of increasing boiling point: CH3OH, CH4, CH3CH2OH, HOCH2CH2OH

A)CH3OH < CH4 < CH3CH2OH < HOCH2CH2OH B)CH4 < CH3OH < CH3CH2OH < HOCH2CH2OH C)CH4 < CH3OH < HOCH2CH2OH < CH3CH2OH D)CH3OH < CH4 < HOCH2CH2OH < CH3CH2OH E)HOCH2CH2OH < CH3CH2OH < CH3OH < CH4 67. Arrange the following substances in order of increasing boiling point: N2, H2, NH3, PH3 A)H2 < N2 < PH3 < NH3D)N2 < PH3 < NH3 < H2 B)N2 < H2 < PH3 < NH3E)NH3 < PH3 < N2 < H2 C)H2 < N2 < NH3 < PH3 68. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, H2SD)NH3, PH3 B)CH3CH2OH, CH3OHE)Br2, Cl2 C)CH3COCH3, CH3CH2CH2OH 69. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, HClD)AsH3, PH3 B)CH3OH, CH4E)Cl2, Br2 C)CH3CH2CH2OH, CH3COCH3 70. Which of the following statements regarding the liquid state is incorrect? A)Liquids are about 1000 times denser than gases. B)Liquids are normally about 90-95% as dense as their corresponding solid. C)The viscosity of a liquid is a measure of its resistance to flow. D)Molecules with high intermolecular forces will have high surface tension. E)Surface tension increases as temperature increases.