Question : Multiple Choice Questions 1.The accounting period the time a. the Controller decides : 1253601

Accounting

Multiple Choice Questions

1.The accounting period is the time

a. the Controller decides to close the books.

b. between selling a product to a customer and collecting the cash from the customer.

c. that it usually takes to journalize and post events to the ledger.

d. covered by the income, cash flow, and shareholders’ equity statements.

2.An event that affects assets, liabilities, or shareholders’ equity is considered to be

a. timely.

b. objectively measured.

c. relevant.

d. capitalized.

3.An event for which an appropriate monetary measure can be derived is considered to be

a. objectively measured.

b. economically viable.

c. relevant.

d. capitalized.

4.If an event is considered to change assets, liabilities, or shareholders’ equity with an appropriate monetary measure, then it is

a. considered a financial changing event.

b. listed on the U.S. stock exchange.

c. considered a debt or payable of a company.

d.recorded in the books of a company.

5.If assets are $1,000, liabilities are $600, and contributed capital is $200, then shareholders’ equity is

a. $400.

b. $1,500.

c. $700.

d.$300.

6.Alberto Company paid its insurance premiums for a two-year insurance policy on May 1, 2009, and recorded them in a prepaid insurance account. The adjusting entry required at May 31, 2009, to recognize the one-month portion for the month of May will

a.increase an expense account and increase a liability account.

b.increase an expense account and decrease an asset account.

c.increase an asset account and decrease an expense account.

d.increase a revenue account and decrease an asset account.

7.Vera Company acquired a new forklift in exchange for signing a 6-month, 10%, $19,000 note dated May 1, 2009. Vera agreed to repay the entire principal at the end of the 6-month period. Vera should:

a.record one month of interest expense only if the forklift runs as intended.

b.record all 6 months of expense when the interest is paid.

c.accrue one month of interest expense at May 31, 2009.

d.record the interest payments as prepaid interest when paid.

8.On May 31, 2009, the physical count of office supplies was $2,300. During June, supplies were acquired at a cost of $1,600 and the company debited the Office Supplies Expense account. At June 30, actual supplies on hand totaled $500. The credit part of the adjusting entry required at the end of June is

a.Office Supplies Expense of $1,800.

b.Office Supplies of $1,800.

c.Office Supplies Expense of $3,300.

d.Office Supplies of $500.

9.Liabilities are $2,000, retained earnings are $1,000, and contributed capital is $4,000. Assets must be

a. $3,000.

b. $7,000.

c. $5,000.

d. $6,000.

10.Which one of the following changes describes the receipt of $2,000 from the issuance of common stock?

a. Assets and shareholders’ equity increase by $2,000.

b. Assets and shareholders’ equity decrease by $2,000.

c. Assets and liabilities increase by $2,000.

d. Assets increase and shareholders’ equity decreases by $2,000.

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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.