Accounting Quiz

Accounting Quiz

Assessment

Quiz

Business

10th - 12th Grade

Hard

Created by

Chikita Priscila

Used 21+ times

FREE Resource

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Qualitative characteristic being displayed when companies in the same industry are using the same accounting principles.

Verifiability

Comparability

Faithful representation

Confirmatory value

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Quality of information that confirms users’ earlier expectations.

Confirmatory value

Understandability

Comparability

Predictive value

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Imperative for providing comparisons of a company from period to period.

Timeliness

Verifiability

Understandability

Comparability

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ignores the economic consequences of a standard or rule.

Predictive value

Materiality

Neutrality

Confirmatory value

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Requires a high degree of consensus among individuals on a given measurement.

Neutrality

Verifiability

Timeliness

Materiality

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Predictive value is an ingredient of this fundamental quality of information.

Relevance

Verifiability

Faithful Representation

Confirmatory Value

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One of four qualitative characteristics that enhance both relevance and faithful representation.

Confirmatory value

Materiality

Timeliness

Neutrality

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