The second half of the intermediate sequence is where the sympathetic chapters run out. Intermediate Accounting, Volume 2, 11th Canadian Edition by Donald E. Kieso opens on liabilities and works through bonds, leases, pensions, income taxes and earnings per share — topics with long computations, several accepted presentations and a habit of appearing together in one exam question. Students who coped comfortably in the first term often stumble here, not because the ideas are unreachable, but because each of these chapters carries its own schedule, and a single misplaced figure early in that schedule quietly ruins everything that follows it.
Why this test bank helps
On this material a final answer tells you almost nothing about where a long computation went wrong. Every question here is followed by a written rationale that walks the logic — which amount is measured at present value, which portion of a payment is interest, why an amount sits in other comprehensive income rather than profit or loss. Reading those explanations after each attempt is what stops the same structural mistake recurring across bonds, leases and pensions, since all three run on the same amortization logic wearing different labels.
What’s inside
- Questions in Volume 2 chapter order, so each topic block matches the week it is taught.
- Multiple choice, true/false and multi-step computational items with schedules to complete.
- A written rationale under every question, identifying the measurement rule and the reporting line affected.
- Concentrated practice on leases, pensions, income taxes and earnings per share, the heaviest chapters of the term.
- One organized PDF, downloadable as soon as checkout completes.
Topics covered
- Current liabilities and provisions — measurement of obligations, contingencies and the disclosure threshold.
- Long-term debt — bonds issued at a premium or discount, effective-interest amortization and early retirement.
- Shareholders’ equity — share issuance, repurchase, dividends and the components of accumulated other comprehensive income.
- Complex financial instruments — convertible debt, options and warrants, and their effect on reported equity.
- Earnings per share — the weighted average share count, dilution and the if-converted approach.
- Income taxes — temporary differences, deferred tax balances, loss carryforwards and the recognition threshold.
- Pensions and other employee benefits — defined benefit obligation, plan assets and the components of periodic cost.
- Leases — recognition of the right-of-use asset and liability, lease term judgments and the lessor’s position.
Who it’s for
Canadian accounting students taking the second intermediate course from Volume 2 of this edition, CPA preparatory candidates revisiting liabilities and employee benefits, and students who passed the first course but need heavy practice on the computational chapters.
How to use it (the right way)
Work the chapter’s own schedules before attempting questions, then answer a block closed-book with a calculator and blank paper rather than a spreadsheet, since exams are written that way. Rebuild any schedule you got wrong from the first line instead of patching the error. This is a study aid, to be used in line with your institution’s academic-integrity policy — for preparation and self-testing, never as a substitute for assigned coursework or as material taken into a graded assessment.
Sample question (shows the format — your download contains the full set)
Q. A company issues bonds with a face value of $500,000 for proceeds of $460,000 because the market rate exceeds the coupon rate. Using the effective-interest method, what happens to interest expense over the life of the bonds?
- A. It stays constant, equal to the cash coupon paid each period
- B. It increases each period as the carrying amount rises toward face value
- C. It decreases each period as the discount is amortized
- D. It equals the cash coupon plus a constant amount of amortization each period
Answer: B. Interest expense is the market rate applied to the opening carrying amount, and amortizing a discount increases that carrying amount every period, so the expense grows as the bond approaches maturity. A describes the cash payment, not the expense, and would ignore the discount entirely. C reverses the direction and would apply to a premium instead. D describes straight-line amortization, which produces a constant expense rather than the pattern the effective-interest method requires.
Edition & format
- Matches: Intermediate Accounting, Volume 2, 11th Canadian Edition, by Donald E. Kieso (ISBN 9781119048541).
- Format: Digital PDF, delivered instantly after checkout.
- Access: Lifetime — re-download from your account at any time.
Volume 1 and Volume 2 cover different chapters, so please confirm the volume, edition and ISBN above match your course outline before purchase.
Frequently asked questions
Is this the current edition? The questions are prepared against the 11th Canadian Edition, Volume 2. If your course lists a different edition or the first volume, choose that listing instead.
How do I receive it? The download appears on your order confirmation page and in your account the moment checkout completes, with nothing shipped and no waiting period.
Do all the questions include rationales? Yes. Every item carries a written explanation, and the computational items explain the schedule behind the figure.
Is using a test bank allowed? As revision material it works like any other practice resource. Follow your institution’s academic-integrity policy and keep it out of graded assessments.
More titles for this sequence are in Accounting Test Banks.
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