Accounting 202: Intermediate Accounting II Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. What is the difference between accounting errors and fraud?

Question 2 2. CBD Company's income statement reported $111,000 of pre-tax net income. A review of the accounts revealed two errors. Sales revenue of $27,000 was not accrued and supplies expense of $9,300 was recorded as $3,900. What income should be recorded?

Question 3 3. When recording the adjusting entries for the year, James inadvertently skipped the entry for depreciation. What type of mistake is this?

Question 4 4. One way to temporarily balance an out-of-balance Trial Balance report is to use which of the following?

Question 5 5. Double-entry bookkeeping can help prevent which of the following types of errors?

Question 6 6. Common examples of post-retirement benefits are all of the following EXCEPT which of the following?

Question 7 7. What is the appropriate journal entry for a company's matching payment into a defined contribution plan?

Question 8 8. Corbin Company's president is trying to decide the best type of employee incentive program to implement to increase motivation with minimal cash outlay. Which of the following would you recommend, given that criteria?

Question 9 9. What is the term for the various types of benefits or compensation provided to retired employees?

Question 10 10. Which of the following is the type of retirement plan that provides an employee with a set amount of benefit upon retiring?

Question 11 11. Which of the following items are not deductible for corporate income tax purposes?

Question 12 12. Which of the following is an example of a permanent difference between accounting and tax income?

Question 13 13. Total revenue less total expenses excluding income tax is know as which of the following?

Question 14 14. Lemming Company has Sales revenue of $1,200,000; Cost of goods sold of $650,000; Operating expenses of $420,000; Other Income of $15,000; and Income taxes of $51,000. What are earnings before income tax?

Question 15 15. Municipal bond interest, which is the interest earned on bonds issued by a city, state, or county, is recognized as revenue for GAAP purposes. How would this be handled for tax purposes?

Tell us about yourself

Are you a student or a teacher?

I am a student I am a teacher

Accounting 202: Intermediate Accounting II Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Accounting 202: Intermediate Accounting II  /  Business Courses
Support