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CHAPTER 5
MERCHANDISING OPERATIONS
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOMS TAXONOMY
* This topic is dealt with in an Appendix to the chapter.
SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE
Learning Objective 1 | |||||||||||
Item | Type | Item | Type | Item | Type | Item | Type | Item | Type | Item | Type |
1. | TF | 10. | TF | 56. | MC | 65. | MC | 74. | MC | 207. | BE |
2. | TF | 11. | TF | 57. | MC | 66. | MC | 75. | MC | 237. | C |
3. | TF | 12. | TF | 58. | MC | 67. | MC | 76. | MC | 238. | C |
4. | TF | 13. | TF | 59. | MC | 68. | MC | 77. | MC | 239. | C |
5. | TF | 14. | TF | 60. | MC | 69. | MC | 78. | MC | 247. | Ma |
6. | TF | 15. | TF | 61. | MC | 70. | MC | 79. | MC | 248. | SA |
7. | TF | 53. | MC | 62. | MC | 71. | MC | 80. | MC | ||
8. | TF | 54. | MC | 63. | MC | 72. | MC | 81. | MC | ||
9. | TF | 55. | MC | 64. | MC | 73. | MC | 82. | MC | ||
Learning Objective 2 | |||||||||||
16. | TF | 84. | MC | 92. | MC | 100. | MC | 215. | Ex | 240. | C |
17. | TF | 85. | MC | 93. | MC | 101. | MC | 216. | Ex | 241. | C |
18. | TF | 86. | MC | 94. | MC | 102. | MC | 217. | Ex | 247. | Ma |
19. | TF | 87. | MC | 95. | MC | 103. | MC | 218. | Ex | 257. | SA |
20. | TF | 88. | MC | 96. | MC | 104. | MC | 219. | Ex | 258. | SA |
21. | TF | 89. | MC | 97. | MC | 105. | MC | 220. | Ex | ||
22. | TF | 90. | MC | 98. | MC | 208. | BE | 221. | Ex | ||
83. | MC | 91. | MC | 99. | MC | 209. | BE | 222. | Ex |
Learning Objective 3 | |||||||||||
Item | Type | Item | Type | Item | Type | Item | Type | Item | Type | Item | Type |
23. | TF | 106. | MC | 117. | MC | 128. | MC | 139. | MC | 222. | Ex |
24. | TF | 107. | MC | 118. | MC | 129. | MC | 140. | MC | 223. | Ex |
25. | TF | 108. | MC | 119. | MC | 130. | MC | 141. | MC | 224. | Ex |
26. | TF | 109. | MC | 120. | MC | 131. | MC | 208. | BE | 242. | C |
27. | TF | 110. | MC | 121. | MC | 132. | MC | 209. | BE | 243. | C |
28. | TF | 111. | MC | 122. | MC | 133. | MC | 210. | BE | 244. | C |
29. | TF | 112. | MC | 123. | MC | 134. | MC | 217. | Ex | 247. | Ma |
30. | TF | 113. | MC | 124. | MC | 135. | MC | 218. | Ex | 249. | SA |
31. | TF | 114. | MC | 125. | MC | 136. | MC | 219. | Ex | 250. | SA |
32. | TF | 115. | MC | 126. | MC | 137. | MC | 220. | Ex | 251. | SA |
33. | TF | 116. | MC | 127. | MC | 138. | MC | 221. | Ex | ||
Learning Objective 4 | |||||||||||
34. | TF | 43. | TF | 150. | MC | 159. | MC | 207. | BE | 252. | SA |
35. | TF | 142. | MC | 151. | MC | 160. | MC | 211. | BE | 253. | SA |
36. | TF | 143. | MC | 152. | MC | 163. | MC | 225. | Ex | 254. | SA |
37. | TF | 144. | MC | 153. | MC | 166. | MC | 226. | Ex | ||
38. | TF | 145. | MC | 154. | MC | 167. | MC | 227. | Ex | ||
39. | TF | 146. | MC | 155. | MC | 170. | MC | 228. | Ex | ||
40. | TF | 147. | MC | 156. | MC | 171. | MC | 229. | Ex | ||
41. | TF | 148. | MC | 157. | MC | 174. | MC | 245. | C | ||
42. | TF | 149. | MC | 158. | MC | 175. | MC | 247. | Ma | ||
Learning Objective 5 | |||||||||||
44. | TF | 178. | MC | 182. | MC | 186. | MC | 230. | Ex | ||
45. | TF | 179. | MC | 183. | MC | 187. | MC | 231. | Ex | ||
176. | MC | 180. | MC | 184. | MC | 212. | BE | 247. | Ma | ||
177. | MC | 181. | MC | 185. | MC | 213. | BE | ||||
Learning Objective 6 | |||||||||||
46. | TF | 168. | MC | 189. | MC | 196. | MC | 214. | BE | 247. | Ma |
47. | TF | 169. | MC | 190. | MC | 197. | MC | 226. | Ex | 255. | SA |
48. | TF | 172. | MC | 191. | MC | 198. | MC | 227. | Ex | 256. | SA |
161. | MC | 173. | MC | 192. | MC | 199. | MC | 228. | Ex | ||
162. | MC | 178. | MC | 193. | MC | 200. | MC | 229. | Ex | ||
164. | MC | 179. | MC | 194. | MC | 201. | MC | 232. | Ex | ||
165. | MC | 188. | MC | 195. | MC | 202. | MC | 246. | C | ||
Learning Objective 7 | |||||||||||
49. | TF | 50. | TF | 247. | Ma | ||||||
Learning Objective 8 | |||||||||||
51. | TF | 203. | MC | 205. | MC | 233. | Ex | 235. | Ex | ||
52. | TF | 204. | MC | 206. | MC | 234. | Ex | 236. | Ex |
Note: TF = True-False C = Completion
MC = Multiple Choice Ex = Exercise
Ma = Matching SA = Short Answer Essay
*8. Explain the recording of purchases and sales of inventory under a periodic inventory system. To record purchases, entries are required for (a) cash and credit purchases, (b) purchase returns and allowances, (c) purchase discounts, and (d) freight costs. To record sales, entries are required for (a) cash and credit sales, (b) sales returns and allowances, and (c) sales discounts.
TRUE-FALSE STATEMENTS
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: T, LO: 1, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: T, LO: 1, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Business Economics
Ans: T, LO: 1, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Leverage Technology, AICPA PC: None, IMA: Business Economics
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: T, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: FSA
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: FSA
Ans: T, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: T, LO: 2, Bloom: AP, Difficulty: Easy, Min: 1, AACSB: Analytic, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: Problem Solving, IMA: Quantitative Methods
Ans: T, LO: 2, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
Ans: F, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: FSA
Ans: F, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: T, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: F, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Decision Modeling, AICPA PC: None, IMA: Business Economics
Ans: T, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Ans: F, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
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