This interactive study guide has over 600 practice test questions covering 35 topics in financial accounting. The topics are categorized as follows: Introduction, Financial Statements, Accounting Systems, Corporations/Partnerships/Bonds, and Solvency Financial Analysis. A variety of question types have been included: true/false, multiple choice, multiple answer, matching, and short answer. Sets of algorithmic questions are included as well.
Type of Material:
Drill and practice
Individual homewor; could also be used for review in class.
Identify Major Learning Goals:
Assess learners knowledge of a variety of introductory financial accounting concepts.
Target Student Population:
Students taking an introductory financial accounting course.
Prerequisite Knowledge or Skills:
Some prerequisite knowledge of each topic is needed.
Questions are based on U.S. regulation.
The quiz/text questions are clearly and concisely worded.
Content is relevant, and current.
For the most part the questions are accurate (see concern below).
A sufficient number of questions have been inlcuded for each of the 35 topics.
Tracking progress provides a way to determine comprehension.
Algorithmic questions are a powerful learning tool allowing multiple attempts at questions related to the same concept.
In the Journal Entries section in the Introduction category, some questions include explanations that give away answers to following questions.
In the Bookkeeping Algorithmic section, amounts credited are required to be entered as negative numbers (enclosed by parentheses). Having responses entered this way implies credits are negative numbers, which is inaccurate.
Another issue involves the questions in the Accrual vs. Cash Basis section. Some of the questions are misleading. Recognizing revenue when cash is exchanged occurs under both the cash and accrual basis. The accrual basis questions need to include the word "only" for several of the items to be completely false.
Potential Effectiveness as a Teaching Tool
A wide variety of concepts are presented in this learning object, making extremely comprehensive.
Many different formats have been used to deliver the questions.
Being able to track progress is a nice feature for learners to see how well they did when they have completed a set of questions.
Completing sections relevant to topics covered in class is an efficient way to determine one's level of comprehension.
Not all questions provide an explanation supporting the correct answer.
Repeat tries after incorrect responses would significantly improve the learning experience.
Instructors will need to review all the questions for particular sections assigned to make sure all the terms and concepts in the module are relevant for their particular needs.
Ease of Use for Both Students and Faculty
The site is very easy to use.
Clearly labeled sections are provided in order to allow for testing specific concepts.
The module is very interactive and engaging.
Using a variety of question types keeps the user interested.
Numbers can be entered with or without commas.
The site has a professional appearace and is well done from a design standpoint.
No initial instructions have been included. One has to explore the site to learn about the features supported.
No ability exists for users to access given questions within a set to retry it or come back to it later.
Except for the algorithment sections, questions within the other sections are always delivered in the same order.
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