Four chapters account for most of the anxiety in this course, and every accounting student can name them: leases, pensions, deferred taxes and earnings per share. They arrive late in the sequence, each introduces a schedule that must be built before anything can be recorded, and all four are heavily examined. Intermediate Accounting, 15th Edition by Donald E. Kieso treats them at full length, which is a strength of the book and the reason its later chapters take twice as long to revise.
Why this test bank helps
Those chapters are not conceptually hard so much as procedurally unforgiving: one line of a schedule decides everything reported afterwards. Each question here is followed by a written rationale identifying the input being tested — the temporary difference, the enacted rate, the discount rate, the share count — so a wrong answer points at a specific step rather than at a whole chapter. That specificity is what makes revision on this material finite instead of endless.
What’s inside
- Questions following the fifteenth edition chapter by chapter, in the book’s own order.
- Multiple choice, true/false and short computational items in the proportions the paper uses.
- A written rationale under every question, identifying the schedule input being tested.
- Heavier weighting on the leases, pensions, taxes and dilution chapters that carry the most marks.
- One organized PDF, available the moment checkout completes.
Topics covered
- The framework and statements — objectives of reporting, the elements, income statement presentation and classification.
- Revenue recognition — the contract-based model, performance obligations and allocating the transaction price.
- Inventory and receivables — cost formulas, the retail and gross profit methods, and impairment of receivables.
- Property, plant and intangibles — capitalized interest, depreciation, impairment, depletion and goodwill.
- Liabilities and bonds — effective interest amortization, contingencies and troubled debt restructuring.
- Income taxes — temporary and permanent differences, deferred balances and valuation allowances.
- Pensions and leases — the components of pension expense, funded status, and lease classification and measurement.
- Equity, EPS and cash flows — share issuance, dilutive securities, basic and diluted earnings per share and the cash flow statement.
Who it’s for
Accounting majors in the two-term intermediate sequence taught from the fifteenth edition, and students revising the same material ahead of a professional examination that draws on it heavily.
How to use it (the right way)
Work through a chapter, then attempt a block closed-book with a blank page beside you for the schedules — on this material an answer produced without a schedule is a guess with reasonable odds. Read every rationale, then rebuild the schedule for any item you missed. This is a study aid, to be used in line with your institution’s academic-integrity policy: for preparation and self-testing, never a shortcut around the coursework.
Sample question (shows the format — your download contains the full set)
Q. A company reports pretax accounting income of $600,000. Depreciation deducted for tax purposes exceeds book depreciation by $80,000, and the difference will reverse in later years. The enacted tax rate is 25 percent. What deferred tax liability is recorded at year end?
- A. $150,000
- B. $20,000
- C. $130,000
- D. $80,000
Answer: B. The deferred tax liability is the temporary difference multiplied by the enacted rate expected to apply when it reverses: $80,000 times 25 percent is $20,000. A is total income tax expense on book income and C is the current tax payable on taxable income of $520,000 — both are real figures in this problem, but neither is the deferred balance. D is the gross difference, a pretax amount that never appears as a tax item. Had the difference been permanent rather than reversing, no deferred tax would arise at all.
Edition & format
- Matches: Intermediate Accounting, 15th Edition, by Donald E. Kieso (ISBN 9781118985328).
- Format: Digital PDF, delivered instantly after checkout.
- Access: Lifetime — re-download from your account at any time.
Chapter order and problem numbering change between editions of this text. Please confirm the edition and ISBN above match the book your course assigned before you buy.
Frequently asked questions
Which edition is this? The fifteenth edition, ISBN 9781118985328. Adjacent editions revise the revenue and lease chapters, so their question sets are listed separately.
How do I receive it? The download appears on your order confirmation page and in your account as soon as checkout completes.
Do all the questions include rationales? Yes. Every item carries a written explanation of the reasoning, which is the part that turns checking into studying.
Is using a test bank allowed? As a study aid it works like any other practice resource. Follow your institution’s academic-integrity policy, and never take the material into a graded assessment.
More titles for this course are in Accounting Test Banks.
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