Accounting Principles

 

 

Instructions

Match the account with the statement it is reported on by entering the correct number in the questions column. Once you click off the number field, your results will appear. Your score will be tallied at the bottom. To restart the quiz, simply click the reset button at the bottom. Good Luck!

Questions


Number Results
Assets are recorded
at puchase price
Financial information
is useful
Some information
is too costly to obtain
Records revenues and
expenses in a period
Financial reporting
is unbiased
Financial information
can be trusted
Businesses have
indefinite lives
Estimates are
made modestly

Answers


1. Historical Cost
2. Going Concern
3. Matching
4. Cost Benefit
5. Conservatism
6. Objectivity
7. Relevance
8. Reliability
9. Comparability
10. Consistency



Possible points: 8