Accounting Principles

Multiple Choice Questions

//Accounting Principles
Accounting Principles 2017-10-27T06:33:02+00:00

1. The accounting principle that states companies and owners should be account for separately.




2. Companies not disclosing an immanent bankruptcy would violate the:




3. The assumption that states that businesses can divide up their activities into artificial time periods.




4. Assets are recorded at their original purchase price according to the:




5. Management concealing important financial information violates the:




6. When estimating unearned revenues, what principle applies?




7. What is not a value of accounting relevance?




8. What is not a value of accounting reliability?




9. Switching accounting principles every year would violate the:




10. Recording expenses and revenues in the same period in which they occur.