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Stichworte: Accounting concepts
When expenses and revenue are recorded when actually received this is called?
The ________ basis of accounting records revenues only when cash is received.
Which of the following concepts refers a social position that a person holds?
What is the importance of responsibility Centre in responsibility accounting?
Different companies using the same accounting principles is an application of
Which of the following concepts refers to a social position that is received?
What is financial reporting and why it is important for business Organisation?
Accounting for the numeric sequence in the issuance of the sales invoices meets primarily the
Which of the following inventory accounting methods is not permitted under IFRS?
Which of the following would not be considered an external user of accounting data for the BBK company?
Which of the following statements is true in the context of comparing accounting profit and present value break
Which of the following accounting concepts is practiced when revenue is recognized when it is earned and expenses when they are incurred?
What are the two primary qualitative characteristics of accounting information?
With regard to a static budget instead of a flexible budget, which of the following is true?
Does every accounting transaction affect both the balance sheet and income statement?
Which of the following are true of generally accepted accounting principles (GAAP)
Give at least three 3 examples of typical lawsuits against certified public accountants
Which of the following concepts represents the process of juveniles committing crimes in groups
What is the purpose of dividing the life of the business into accounting periods?
Which of the following formulas is used to compute the accounting rate of return?
Which of the following concepts best helps to explain why communication can fail?
In accounting for state and local governments the modified accrual basis is required for
The fasb’s conceptual framework’s qualitative characteristics of accounting include:
What role does the SEC have in the development of accounting theory and practices?
What is the difference between financial and managerial accounting give examples?
What would be an advantage of having all countries adopt and follow the same accounting Standards
How does accounting help the capital allocation process attract investment capital
Which of the following is not true concerning a Conceptual Framework in accounting
The two methods of accounting for uncollectible receivables are the allowance method and the
Which inventory system updates the inventory account only at the end of the accounting period?
When inventory is shipped FOB destination point and we are doing the accounting from the standpoint of the seller of these goods title passes at the?
Two basic types of cost accounting systems are job order costing and process costing.
Why is the allowance method preferred over the direct write-off method of accounting for bad debts
Which of the following is a primary activity in a value chain group of answer choices Finance Accounting sales marketing none of the above?
In the conceptual framework, what are the two types of elements of financial reporting?
What is the securities and exchange commissions current role in accounting standard setting?
All of the following are examples of external users of accounting information except
Who are the users of accounting information Why do they need accounting information?
Which type of speech helps audience members to understand topics, ideas, or concepts?
How is the Dictionary definition different from accounting definition of depreciation
What is the basic purpose of accounting to provide quantitative financial information?
When a firm practices concepts all its activities are directed to satisfy the consumer
Which of these is a similarity between financial accounting and managerial accounting?
In the performance of any professional service, a member shall do which of the following?
Which companies are required by law to report their financial statements in accordance with GAAP?
For each of the questions below, categorize them as one of the following question types:
A concept that organizes other concepts around what they all share in common is called a
All of the following are spelling rules and concepts that should be taught in grades 2-3
Which statement reflects one of the concepts of Sternbergs theory of intelligence quizlet?
Which of the following is not one of the three types of responsibility accounting systems?
Which concept holds that consumers will favor products that are available and highly affordable?
A branch of accounting that reports the total cost of materials and labor used in production
Which branch of accounting generates reports and financial information of the internal use of the management of the business?
Which of the following is the starting point for an entity accounting in accordance with IFRS?
Field of accounting that deals with providing information needs of the internal decision makers.
Which branch of accounting provides accounting information for internal users to help make business decisions?
Which of the following accounting principle differentiate between owner and management Mcq?
Which of the following are underlying assumptions concept of financial statements preparation?
Which underlying concept serve as the basis for preparing financial statements at regular intervals?
What are the assumptions under which the financial statements are created used and interpreted?
Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing?
Which principle guideline justifies a company violating an accounting principle because the amounts are irrelevant for example rounding off to the nearest cent?
Which of the following assumptions that underlies the preparation of financial statements assumes that companies will continue their operations over time select one?
What do you call the major branch of accounting that provides reports and information about the business transactions to the internal users?
What is the basic purpose of accounting to provide quantitative financial information about economic activities intended to be useful in making economic decisions?
Is it true that the basic objective of accounting is to provide quantitative financial information about an entity that is useful in making rational economic decision?
Which one of the following state that the life of business can be divided into equal time periods?
Which of the following is the principle that a company must recognize revenue in the period in which it is earned?
What principle states that revenue is to be recognized or recorded in the period in which it is earned and the collection of cash is reasonably assured?
Which accounting principle dictates using accounting rules that will result in less revenues assets or higher liability when choosing among acceptable accounting rules?
Which of the following accounting concepts states that an accounting transaction should be supported by sufficient evidence to allow two or more qualified individuals?
Which area of public accounting means the examination of financial statements by a CPA for the purpose of expressing as opinion as to the fairness of the statements?
Which of the following costs should be included in valuing the inventories of a manufacturing company?
What is the name of the clause found in a mortgage instrument that allows the lender to increase the interest rate based on a certain event?
Both job-order costing and process costing systems utilize averaging concepts in computing unit cost
In a responsibility accounting system, costs are classified into categories on the basis of
Research designs utilizes new emerging concepts and does not require well-defined variables
It is an organized body of concepts and principles intended to explain a particular phenomenon
An advantage of the use of computers to maintain and compile accounting information is ______.
Is the unbroken line of authority linking each employee with the top most position in the Organisation through a series of management posts?
What concepts refers to the lifelong social experience by which human beings develop their potential and learn culture?
Which statement best describes how the International Ethics Standard Board for Accountants Code affects the US accounting profession?
________ a special class of diagrams that can convey both data as well as concepts or ideas.
What is the main difference between management accounting and financial accounting quizlet?
Which of the following represents the types of data commonly found in the accounting department?
While break even pricing is relatively simple markup pricing uses more complicated concepts of cost
Which of the following is true when comparing managerial accounting to financial accounting?
Which of the following statements represents a similarly between financial and managerial accounting?
Which of the following statements represents a difference between financial accounting and managerial accounting?
Which of the following provides a suite of integrated software modules for finance and accounting
Which type of costing can be defined as a cost management tool for reducing the overall cost of a product over its product life
What is the difference between the standard cost of material specified and actual cost of material consumed?
Explain the difference and similarities between financial accounting and management accounting
Which of the following is a difference between financial accounting and managerial accounting?
Which of the following statements is a difference between financial accounting and managerial accounting?
How does management accounting differ from financial accounting explain the limitations of management accounting?
The aspect that differentiates social responsibility from other similar concepts is that it adds
Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities?
Which of the following terms refers to the human resource management concepts and techniques employers use to manage the challenges of their international operations?
In what way can using graphing calculators aid students in understanding mathematical concepts?
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