Accounting Principles Word Scrambles




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1. The constraint that states that some industries can depart from of traditional accounting theory.

Isudrnty Ipcrtceas Irnncttaso

Industry Practices Constraint

2. Principle that states estimates should always be made as modestly as possible.

Nrppeicli of Vsoiesnatmcr

Principle of Conservatism

3. Financial reporting should always be free from bias according to the:

Vyjcbotiite Niperlcpi

Objectivity Principle

4. Companies should use the same accounting treatment for similar events and transactions over time according to the:

Cynocsntesi Pieicrpnl

Consistency Principle

5. The usefulness of financial information to users during the decision making process.



6. Whether financial information can be verified and used consistently by investors and creditors with the same results.



7. A quality of accounting information that addresses the usability of financial information.



8. A quality that refers to the principle that companies should use the same accounting methods to record similar transactions over time.



9. Traits of financial accounting information.

Iavaequtlit Aicstestirccrha

Qualitative Characteristics

10. Companies should be accounted for as if they will continue in the future according to the:

Inggo Ennocrc

Going Concern