Test Bank For Intermediate Accounting Reporting and Analysis 2Nd Edition Wahlen Jones Pagach 1285453824 9781285453828 Full Chapter PDF

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CHAPTER 2: FINANCIAL REPORTING: ITS CONCEPTUAL FRAMEWORK
1. Accounting principles are theories, truths, and propositions that service as the basis for financial accounting and
reporting.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.1 - LO: 2.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
2. The rules for accounting are based upon concepts, and principles which broad and subject to an interpretation.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
3. Information is communicated to external users by the management of the company. Those users cannot dictate desired
financial results to the company.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Chapter 2: Financial Reporting: Its Conceptual Framework
4. The primary purpose of financial reporting is to provide useful and relevant information to the internal stakeholder’s of
the company.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
5. Management’s stewardship is to provide information about how a company’s cash flows cause changes in the
company’s resources and claim’s.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
6. Liquidity is positively related to financial flexibility but negatively related to risk and return on investments.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
7. Relevance and faithful representation are the ultimate objectives of accounting information.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
8. To measure assets, liabilities, revenues, expenses, and other elements of the financial statements with the most relevant
and faithful measurement available is the mixed attribute measurement model.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
9. Oil and gas reserves information would be included within the financial statements.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
10. Management discussion and analysis would be included in the supplementary information to the financial statements.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
11. The eight phases of the joint FASB and IASB framework project are: 1) objective and qualitative characteristics, 2)
elements and recognition, 3) presentation and disclosure, 4) reporting entity, 5) measurement, 6) framework for
GAAP hierarchy, 7) applicability to the not-for-profit sector, and 8) any remaining issues needing to be addressed.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES:ACCT.WHAL.16.2.6 -
LO: 2.1
12. Three phases of the convergence project were put on hold they were elements and recognition, measurement, and
presentation and disclosure.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES:ACCT.WHAL.16.2.6 -
LO: 2.1
13. Which of the following statements is not true with regard to the benefits derived from the FASB's conceptual
framework of accounting?
a. It serves as a guide in establishing standards for the FASB.
b. The Statements of Financial Accounting Concepts is the primary source of GAAP for accountants.
c. It establishes the objectives of financial reporting.
d. It enhances comparability between different company’s financial statements.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
14. Which of the following items is NOT included in FASB's conceptual framework of accounting theory?
a. qualities of useful accounting information
b. fundamental principles and assumptions that guide financial accounting and reporting
c. objectives of financial reporting
d. All of these choices are included in the conceptual framework
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
15. The first part of the conceptual framework project had to do with establishing which projects?
a. elements
b. objectives
c. qualitative characteristics
d. recognition and measurement
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
16. The accounting projects portion of the FASB's conceptual framework project deals with
a. which accounting elements should be reported and how they should be measured
b. which accounting elements should be reported and where the information should be reported
c. how the accounting elements should be measured and how information should be displayed in financial
reports
d. when accounting elements should be recognized and how information should be displayed in financial reports
ANSWER: a
POINTS: 1
17. The accounting projects portion of the FASB's conceptual framework project deals with all of the following except
a. how elements should be measured
b. when various elements should be reported
c. which accounting elements should be reported
d. how financial reports should be displayed
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
18. What is the goal of FASB and IASB in the creation of the conceptual framework?
a. To develop standards that are internally consistent.
b. To develop standards that are internationally converged.
c. To develop standards that lead to financial reporting that provides clear consistent information to capital
providers.
d. All of these choices
ANSWER: d
POINTS: 1
19. The FASB and IASB concluded that the most general objective of financial reporting is to
a. provide information useful in the decisions made by external users
b. meet the needs of internal users
c. provide information about an entity's earnings
d. provide information about an entity's cash flows
ANSWER: a
POINTS: 1
20. According to GAAP, which is not a specific objective?

a. to provide information about an enterprise's cash flows
b. to provide information that is useful to present to potential investors, creditors, and other users in making
rational investment, credit, and similar decisions
c. to provide information about an enterprise's comprehensive income and its components
d. to provide information about an enterprise's economic resources, obligations, and owners' equity
ANSWER: b
POINTS: 1
21. Information about comprehensive income is useful to external users for all of the following purposes except
a. evaluating management's performance
b. examining cash flows for the current period
c. predicting future income
d. assessing the risk of lending to the company
ANSWER: b
POINTS: 1
22. In its "Objectives of Financial Reporting by Business Enterprises" the FASB identified a variety of primary users
including all of the following except
a. internal management
b. investors
c. creditors
d. security analysts
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
23. Which of the following is a specific objective of financial reporting?

a. provide information that is useful to investors in making investment decisions
b. provide information useful in assessing the amounts, timing, and uncertainty of prospective cash receipts
c. provide information useful in assessing the amounts, timing, and uncertainty of prospective cash inflows
d. provide information about a company's resources and the claims against the company
ANSWER: d
POINTS: 1
24. Accrual accounting relates the financial effects of a company's transactions

a. so that the costs of nonoperational events are matched to the balance sheet in the period impacted
b. to the period in which they occur rather than to when the cash receipts or payment occurs
c. so that the revenue impact of every transaction in a period is properly reflected in the income statement
d. so that the impact of every transaction is reflected in the statement of cash flows
ANSWER: b
POINTS: 1
25. Which of the following statements regarding financial flexibility is true?
a. It is the ability of a company to provide a return on investment.
b. It is the ability of a company to take effective actions to insure the return of capital to the company.
c. It is the ability of a company to take adapt changes in the amounts and timing of cash flows.
d. It is the ability of a company to maintain a given level of operations.
ANSWER: c
POINTS: 1
26. Which of the following types of information was specifically identified by the FASB as being useful in assessing the
amounts, timing, and uncertainty of a company's future cash flows?
a. liquidity
b. return of investment
c. financial capability
d. credit standing
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
27. When investors and creditors make investment and credit decisions, they need information to assist them in assessing
future cash receipts. Their focus is on assessing the potential of generating
a. a return of investment of capital
b. a return on investment of capital
c. both a return of and a return on investment of capital
d. neither a return of nor a return on investment of capital
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
28. Which qualitative characteristic is an ingredient of relevance?
a. understandability
b. materiality
c. neutrality
d. representational faithfulness
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
29. According to the FASB hierarchy of fundamental qualitative characteristics, the two primary qualities making
accounting information useful are
a. understandability and decision usefulness
b. relevance and faithful representation
c. verifiability and neutrality
d. predictive value and feedback value
ANSWER: b
POINTS: 1
30. Which fundamental characteristic is an ingredient of faithful representation?

a. predictive value
b. confirmatory value
c. timeliness
d. Neutrality
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
31. In order to be relevant, accounting information should have
a. timeliness
b. verifiability
c. confirmatory value
d. All of these choices
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
32. Which of the following fundamental qualitative characteristics may have to be sacrificed in order to achieve
timeliness?
a. relevance
b. verifiability
c. comparability
d. predictive value
ANSWER: b
POINTS: 1
33. What is the ultimate objective of accounting information?

a. faithful representation
b. decision usefulness
c. relevance
d. predictive value
ANSWER: b
POINTS: 1
34. Which of the following are considered enhancing characteristics of accounting information?
a. verifiability and confirmatory value
b. predictive value and timeliness
c. comparability and consistency
d. representational faithfulness and neutrality
ANSWER: c
POINTS: 1
35. A constraint mentioned by GAAP on qualitative characteristics is

a. understandability
b. timeliness
c. faithful representation
d. benefits greater than costs
ANSWER: d
POINTS: 1
36. Which of the following items would most likely be a violation of the materiality constraint?
a. A company did not separately report an unusual gain of $100,000. Its income from operations was
$20,000,000.
b. A company having reported total assets of $50,000,000 immediately expensed the purchase of 20 pencil
sharpeners that have an estimated useful life of three years.
c. A $75,000 illegal bribe by an executive of the company to a foreign official was not separately disclosed in the
annual report.
d. A $2,000 expenditure to improve a building that originally cost $10,000,000 was immediately expensed.
ANSWER: c
POINTS: 1
DIFFICULTY: Challenging
NATIONAL STANDARDS: United States - BUSPORG: Analytic
KEYWORDS: Bloom's: Analysis
37. The IASB and FASB boards have agreed that the objective of general purpose financial reporting is to provide
a. financial information about a company that is useful to investors, lenders and other creditors
b. mainly cash flow information about a company that is useful to external users in making decisions in their
capacity as capital providers
c. financial information about a company that is useful to internal users in making decisions in their capacity as
capital custodians
d. financial information about a company that is used by government regulators for taxation
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
38. Similar to the constraints in the FASB's qualitative characteristics, the joint IASB/FASB boards have identified which
constraint
a. consistency
b. benefits that justify the costs
c. materiality
d. Objectivity
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
39. Long Corporation has adopted the policy of charging to expense at the time of purchase all assets having a cost of less
than $200, regardless of the life expectancy of the asset. This policy is most closely related to the
a. historical cost principle
b. period-of-time assumption
c. verifiability principle
d. materiality principle
ANSWER: d
POINTS: 1
40. Intracompany comparability would be violated if
a. a company used LIFO as its inventory cost method while other companies in the same industry used FIFO
b. a company changed its bad debts expense estimate from one percent to two percent
c. a bank did not classify its assets as current assets and noncurrent assets
d. a company expenses all expenditures of less than $500 even if the expenditures result in probable future
economic benefit
ANSWER: b
POINTS: 1
DIFFICULTY: Challenging
NATIONAL STANDARDS: United States - BUSPORG: Analytic
KEYWORDS: Bloom's: Analysis
41. Understandability is a characteristic that is

a. a secondary and interactive quality
b. a threshold for recognition
c. an overall quality
d. an enhancing quality
ANSWER: d
POINTS: 1
42. The materiality of an item of financial information refers to the likelihood that its omission or misstatement would
affect the decisions of those relying on that information and thus make differing choices if the information had been
presented. This concept most closely relates to the
a. financial magnitude of the item
b. verifiability of the item
c. neutrality of the item
d. confirmatory value of the item
ANSWER: a
POINTS: 1
Another random document with
no related content on Scribd:
The Project Gutenberg eBook of Rusticus
This ebook is for the use of anyone anywhere in the United
States and most other parts of the world at no cost and with
almost no restrictions whatsoever. You may copy it, give it away
or re-use it under the terms of the Project Gutenberg License
included with this ebook or online at www.gutenberg.org. If you
are not located in the United States, you will have to check the
laws of the country where you are located before using this
eBook.
Title: Rusticus
Or, the future of the countryside
Author: Martin S. Briggs
Release date: November 29, 2023 [eBook #72263]
Language: English
Original publication: London: Kegan Paul, Trench, Trubner &

Co, 1927
Credits: Tim Lindell, David E. Brown, and the Online Distributed

Proofreading Team at https://www.pgdp.net (This book
was produced from images made available by the
HathiTrust Digital Library.)
*** START OF THE PROJECT GUTENBERG EBOOK RUSTICUS

***
RUSTICUS
TO-DAY AND TO-MORROW
For the Contents of this Series see the end of the Book.
RUSTICUS
OR
THE FUTURE OF THE COUNTRYSIDE
BY
MARTIN S. BRIGGS
Rusticus exspectat dum defluat amnis.

Horace, Epist. I, i, 42
London
KEGAN PAUL, TRENCH, TRUBNER & Co., Ltd.
New York: E. P. Dutton & Co.
BY THE SAME AUTHOR
In the Heel of Italy. 1910.
Baroque Architecture. 1913.
Through Egypt in War-time. 1918.
Muhammadan Architecture in Egypt and Palestine. 1924.
A Short History of the Building Crafts. 1925.
The Architect in History. (in the Press)
Made and Printed in Great Britain by

The Bowering Press, Plymouth.
CONTENTS
CHAP. PAGE
I. “SO THIS IS ENGLAND!” 7
II. BEFORE THE DELUGE 12
III. KING COAL (c. 1810-1910) 26
IV. THE AGE OF PETROL (c. 1910 onwards) 46
V. THE FUTURE 61
SOME ADDRESSES 95
I.
“SO THIS IS ENGLAND!”
ON every side a wail is rising over the irreparable damage that is
being done to the rural England that we all claim to love. The change
that has occurred is most evident to those who have not witnessed
its steady progress, rapid as it has been. To realise what has
happened, let us put ourselves in the place of an Englishman who is
now returning home after a sojourn of twenty years in some remote
Eastern outpost of our Empire. Imagine him as a sensitive observer
like Doughty or Kinglake, a man who has learned to appreciate the
savage beauty of the Arabian desert, the very antithesis of his own
land. But now at last the sand has eaten into his soul, and he is
longing to see the English countryside that he remembers so well.
He thinks of small green fields, of little grey churches with rooks
cawing among the elms, of running water, even of grey skies, in fact
of everything that is most characteristically English. There is nothing
in our poetry that better describes this England than Kipling’s
“Sussex,” and Kipling knew all about the East.
Our traveller lands at Folkestone eagerly anticipating his journey
through Kent, and, in order to see as much as possible of hedgerows
and villages and fields on the way up to London, he charters a
motor-car. There is something rather daring, to his mind, in this
business of the car; on his last visit to England in 1907 cars were not
entirely unknown, but there was then a touch of novelty about them.
His driver gingerly threads his way up from the harbour through a
maze of hooting charabancs and yelping Fords, with several
hairbreadth escapes which make the traveller wish himself back on
his lurching camel. But soon Folkestone is left behind, and he settles
down to a contemplation of the number-plate of the car in front, while
the fumes of its exhaust mingle with those of his own Corona. He
expects to find some changes in the aspect of England, but then of
course there was the Town-Planning Act in 1909, so that nothing
very unpleasant need be feared, and at any rate one misses the
East Kent Coalfield by coming this way. The road is very wide and
very straight; there is no dust. A small lighthouse with black and
white sides, crowned by a red lamp busily blinking in broad daylight,
indicates a cross-roads. Yes, this new route avoids the streets of
Sandgate and Hythe, which must be very crowded in these days, but
the wire fences are a poor substitute for green hedges. And these
terrible petrol-stations every few yards with their glaring red and
yellow pumps are very trying to the eyes. Still there are some old
landmarks left: the hoardings are bigger than ever, and some of
them bear the familiar legends of Edwardian days.
He looks forward to passing through Lenham, Charing, and
Harrietsham—three beautiful villages on the main road—but as each
is approached his car swerves along the new racing-track and thus
avoids the village High Street, rejoining the old main road, widened
beyond recognition, a little farther on. He passes through a great
cutting gashed through the chalk. Felled trees lie by the road, old
walls are pulled down, all bends are straightened out, everything is
cleared away to allow the cars and charabancs to roar through the
countryside. But is it countryside any longer? More than anything
else in this nightmare drive he is impressed by the New Architecture,
which appears to consist mainly of bungalows.
The bungalow as he knew it in the East was a large, low, cool, white
building surrounded by verandahs, as un-English in appearance as
anything could be. But these bungalows are quite different, and
seem to be thrown haphazard all over the place, along the main
roads for miles beyond every town. Shoddy, ugly, vulgar shacks they
are, recalling to his mind some of the worst aspects of life in the
Middle West as depicted on the films. The materials of which they
are constructed are cheap and nasty. Round each bungalow is a
collection of smaller shacks, where the Baby Austin and the chickens
live; and in place of embowering trees he sees a jungle of wireless
poles and clothes-props. Untidiness, vulgarity, Americanism, discord
of colouring and form, seem to have invaded every village through
which he passes.
Nor is this change confined to roads and buildings. The whole
character of the villages is altered. Smocks and sunbonnets have
gone for ever, and with them most of the old village crafts. The
blacksmith’s day is done. Artificial-silk leg-wear and gramophone-
records fill the windows of the village store, a blatant cinema has
appeared next door, and most people do their shopping in London.
So this is England!
II.
BEFORE THE DELUGE
IN order to understand the changes that have taken place in the
English countryside during the last century or so, and in order to
forecast probable future tendencies, one must first endeavour to
analyse the charm of the unspoiled English village and landscape
before coal and petrol began to dominate our whole life. That charm
is universally admitted but not always rationally appreciated. To
begin with, ruin in itself is not a worthy subject for admiration. An
American critic is said to have observed to an Englishman:
“What thoughtful people your ancestors were; they not
only built churches for you to worship in but ruined abbeys
for you to admire.”[1]
The worship of ruin is a sign of decadence, though it has appeared
from time to time in history for hundreds of years. There is a social,
even a moral, reproach implied by the sight of a tumbledown
cottage; and to the present writer’s mind a ruined church is as much
inferior to a perfect church as a dead dog is to a live one. Nobody
who really loves architecture can really love ruin; his admiration for
the fragments of a great building only makes him wish he could see
it in its original splendour. But there is a mellowness and softness
that comes to a building with age, and that is a genuine æsthetic
attribute. Moreover, the element of historical association is a
legitimate cause for our pride in our old villages and towns, a cause
by no means to be neglected in this survey. But, apart from these
two factors, the charm of the English village, for our purpose, is to be
judged strictly on appearances.
Up to about 1810, when the Industrial Revolution began to affect the
face of England seriously, the village remained almost unaltered
from its medieval state. Though its “lay-out” varied greatly according
to its situation, on a hill-top or in a valley, it was generally grouped
round a “green” and along the road that ran through it. The “green”
was the focus of communal life, at a time when each community was
inevitably far more self-contained than it is to-day. Here took place
such sports as wrestling and bear-baiting, and revels and dances
round the Maypole, of which a rare example survives in Otley,
Yorkshire. Here too were the stocks for malefactors, the pound
where stray animals were temporarily confined, the well where all
water for the smaller houses had to be drawn, and perhaps a stone
cross. Usually adjoining the green stood the village church, which
gathered the rustic inhabitants within its ancient walls. Gray’s Elegy
gives us the ideal picture of a country church and churchyard, but in
only too many villages such an ideal was unrealised. On the village
green would also be found the inn, but the heyday of the roadside
inn came with the introduction of stage-coaches on the main roads in
the nineteenth century. There might be a group of almshouses, but
no post-office or bank and probably not a school. Down by the
stream stood the mill with its great water-wheel, or if there were no
stream there would be a wooden windmill such as we see on the
Sussex downs. To an extent that we hardly realise, industry was self-
contained in these little communities. Nearly all the simple wants of
the cottagers were provided for within their own parish. The
blacksmith and the carpenter, the saddler and the basket-maker,
practised their crafts in every hamlet. Weaving and spinning, baking
and preserving were done by the women at home. Shops were few
and small, storing rather than displaying their wares. The
comparatively rare goods that were brought into the place from other
parts of England had to be carried on pack-horses, so that naturally
they became expensive luxuries. There were no newspapers, and
hardly anybody in the village—except perhaps the squire and the
parson—possessed any books. All these factors, though they may
not seem germane to this study, had a bearing on the outward
appearance of the village. The squire, as he came to be called, was
the great man of the community, for, though he himself might be the
“lord of the manor,” that celebrity was more often non-resident.
Hence the squire’s house, then “Manor House,” “Hall,” or whatever it
was named, was a substantial building standing in a good garden,
and because of its size and position it has seldom been affected by
the unfortunate tendencies that have so often played havoc with
cottages and barns. Barns usually adjoined the squire’s house and
sometimes were attached to the rectory as “tithe barns,” for there
was collected the tribute of the fields. These barns are invariably
simple in design but often of great beauty, and the two qualities are
not unconnected. Then there were a few other houses of medium
size, and lastly the humble cottages where most of the inhabitants
lived, standing close to the road with a small garden behind them.
Such were the components of the old English village.
Beyond its doors was the common where the cattle grazed, and
beyond that again there were common woods where the pigs picked
up their food and where fuel could be gathered. Then there were
fields for pasturage and for cultivation, divided up into one-acre
strips, of which one man might hold any number. These long strips,
separated only by a foot or so of rough grass, must have resembled
our modern allotments in this country and the great open fields that
one sees in France and elsewhere abroad, where hedges and
fences are seldom found. The system of enclosing fields within
hedges did not become common until about the time of Queen Anne,
so that one feature of our landscape that we rightly regard as
characteristically English is comparatively modern. In many cases it
is also immoral, for enclosure of common land proceeded apace
during the eighteenth century.
Yet of all features of the English countryside the one that has
changed most is the road. Up to the beginning of the eighteenth
century roads were simply open tracks through fields or over
commons. They were not fenced in, their boundaries being vaguely
assumed; and they were not metalled. Their condition was so bad in
North Herefordshire in 1788 that they had to be levelled “by means
of ploughs, drawn by eight or ten horses; and in this state they
remained until the following autumn,” Each parish was held
responsible for the “repairs” of its roads, but this process seldom
involved more than a cartload of faggots or stones in the worst holes.
Hence wheeled traffic was impossible. Everything and everybody
had to travel through the mire, on horseback or on foot; and at a time
when the population of London amounted to 700,000, its fish was
coming on horseback from the Solway, and its mutton was walking
up in thousands on its own legs from Scotland and Wales, disputing
the road with vast droves of geese and turkeys. Such was the state
of affairs up to the third quarter of the eighteenth century, when
turnpikes and tollbars began to take effect, but the good coaching-
roads of Telford and Macadam were not constructed till the
nineteenth century. Nor were bridges very common at a time when
there was no wheeled traffic, for any shallow stream could be forded
by a pack-horse. But such bridges as then existed were almost
always a pleasure to behold.
This picture of rural England at the end of the eighteenth century is
no more than a descriptive inventory of the contents of the average
English village at that time. Yet everyone who knows such a village,
unaltered by the march of civilisation since 1810 or so, can be relied
on to say that it has an undoubted charm of its own. There is
certainly no charm in an inventory, so we must now seek for the
ingredients that are lacking in our list.
The first is, without doubt, the perfect harmony of Nature and art.
The colours and texture of the old buildings harmonise admirably
with the colours of the surrounding landscape. In some places that is
due to an actual identity of material. Thus the old stone farm-houses
that one sees in the Yorkshire dales are built of the same sandstone
rocks that jut out from the hillside all round them. But, on the whole,
that is unusual. There is no similarity between the rich red brickwork
of East Anglia and anything in the surrounding earth or vegetation,
nor between the Cotswold stone cottages and the green slopes on
which they stand. After making all allowances for the mellowing that
time produces, all we can say about this matter of colour is that old
building materials seem to harmonise with their natural surroundings,
whatever colours are involved and whatever may be the
surroundings. That is not quite accurate. In Yorkshire, Scotland and
Wales, where the prevailing colour of the landscape is in dull tones,
buildings of local stone with roofs of sturdy thick local slates do
undoubtedly merge into the general colour-scheme more
successfully than buildings with red-tiled roofs; whereas the warmer
colouring and more generous sunshine of the southern half of
England allows of a greater range of tone in buildings, even
assimilating the “magpie” half-timber houses of the West Midlands.
But texture, too, has a part to play. The materials used in old
buildings were all “home-made”; therefore they lacked the smooth
mechanical surface that is so antagonistic to Nature, and thus the
very defects of their manufacture prevented any clash between
nature and art. But, above all, most of these old farms and cottages
were simple, spontaneous, unsophisticated, and English. Their
design and their construction were traditional, born of the soil on
which they stood. The snobbery of the Victorian suburban villa was
unknown to the village yokels who produced masterpieces of cottage
design. The very simplicity of their “programme” was their salvation.
They had to provide a dwelling-house of given size from local
materials. There was no question of deciding between Welsh slates
and red tiles: only one form of roofing was available locally. The
rooms were shockingly low, according to our ideas, but as an
external result there was a long low roof, and low eaves, all assisting
to produce an unobtrusive effect attuned to the landscape. On the
other hand, the fireplace and the chimney above it were large, for
wood was the only fuel available, and thus bold chimneys are found
externally. The windows were glazed with small panes because
nobody then could make large ones.
The old-fashioned cottage, a truly beautiful thing, was the work of
competent men who, generally speaking, were content to satisfy a
utilitarian demand without trying to create a sensation.
On the other hand there is a question that I have not yet heard
asked: was there never an ambitious tradesman or tradesman’s wife
in the past who wished to create an architectural sensation in the
village? Surely a flamboyant half-timbered inn must have looked
rather startling when first erected? And the village “highbrow” of 1750
or so who procured from an architect in the nearest town a design for
a Palladian façade in the latest mode, did he not create a discord in
the harmony of the village street? The answer to this compound
question must be in the affirmative, but the results are less obtrusive
than they would be to-day. The black and white inn would have the
same proportions, the same fenestration, the same doors and
chimneys, as a brick building in the same street; and the “genuine
antique” façade from Palladio would become a little less exotic by
the time that the village bricklayer had finished with it. The harmony
and repose that characterises the old English village is mainly due to
its isolation: there was no disturbing influence from outside, no
filtration of alien ideas, and no introduction of discordant materials.
But the “silk” stockings and the gramophone-records that now
decorate the shop-window of the village store have their counterpart
in the modern architecture of the village street.
An endeavour has been made in the preceding paragraphs to picture
the unspoiled English village as it appears to the ordinary intelligent
observer of to-day. No attempt has been made to glorify village life,
past or present. There are some people who see nothing but cause
for regret in the invasion of the villages by what we call “progress,”
but for the most part those people are not sons of the soil: they are
either “week-enders” or people of comfortable incomes who have
retired to a cottage orné amid congenial surroundings. They see and
know little of the monotony that drives the young people into the
towns, or of the hardships of lambing and winter work on the farms.
There are other critics who say that architecture is so much a
reflection of social conditions that a beautiful village could only have
been produced by a happy and contented people.
It is a question whether such a village is, or ever has been, specially
attractive to the eyes of its inhabitants, if indeed they have the ability
to consider such things at all. Admiration for the beauty of the
countryside seems to be a very modern cult, if we are to take our
great writers as typical of their time, though in fact they were usually
ahead of their time. Scott, Wordsworth, and other poets of that
period certainly saw something in it, but prior to their day there is
little evidence that even cultured men noticed anything worthy of
comment in the English landscape or the English village. There are
exceptions of course, and we find evidence of love of the English
countryside even in the work of so classical a writer as Milton, and
later in the poems and letters of Cowper. But probably Dr. Johnson is
typical of eighteenth-century men of letters. He declined a country
living on one occasion, and in several passages of Boswell’s Life we
find Johnson making fun of country manners, country conversation,
and country life generally, while of landscape and of the beauty of
the English village he has little to say. William Cobbett, writing a
century ago, is so obsessed with indignation about agricultural
poverty and the iniquities of the governing class, that he seldom
comments in his Rural Rides on the charm of a village. Sandwich is
“as villainous a hole as one could wish to see,” Cirencester “a pretty
nice town,” and so is Tonbridge. But he waxes furious about some of
the tumbledown cottages that modern well-fed tourists would call
“picturesque,” and he regards the barrenness of the New Forest as a
blot on our civilisation. Cobbett provides a very good antidote to an
over-sentimental view of country life.

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Test Bank for Intermediate Accounting Reporting and Analysis

2nd Edition Wahlen Jones Pagach 1285453824

20. According to GAAP, which is not a specific objective?

23. Which of the following is a specific objective of financial reporting?

24. Accrual accounting relates the financial effects of a company's transactions

30. Which fundamental characteristic is an ingredient of faithful representation?

33. What is the ultimate objective of accounting information?

35. A constraint mentioned by GAAP on qualitative characteristics is

41. Understandability is a characteristic that is

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