POP QUIZ - FAR660

Which of the following are not included in the evolution of double entry bookkeeping?

• the Egyptian civilizations

• the Chinese civilizations

• the Indian civilizations

• the Roman civilizations

After the discovery of double entry system, the evolution of the practice of period financial statement happened in:

• Fifteenth and sixteenth century

• Seventeenth and Eighteenth century

• Sixteenth and seventeenth century

• Eighteenth and nineteenth century

The use of separate inventory accounts for different types of goods happened in:

• Fifteenth century

• Sixteenth century

• Seventeenth century

• Eighteenth century

The technique adopted were motivated by the desire to smooth earnings happened mostly in which phase in the USA?

• Management contribution

• Institution contribution

• Professional contribution

• Politicization

The creation of the Securities and Exchange Commission happened in ______________

• Management contribution

• Institution contribution

• Professional contribution

• Politicization

The limitation of management and professional association in formulating accounting theory is the phase of ___________

• Management contribution

• Institution contribution

• Professional contribution

• Politicization

Zenon, a manager of the great estate of Appolonius, introduced in 256 BC is an elaborate system of responsibility accounting in which civilization?

• Chaldean-Babylonian, Assyrian and Sumerian

• Roman

• Greek

• Egyptian

These are among the 7 preconditions for an orderly accounting system by Littleton except_________

• Private property

• Arithmetic

• Money

• Debit transaction

Which of the following was established in 1967 under the accountant act?

• MIA

• MICPA/MACPA

• FRF

• MASB

Capital Market and Services Act (CMSA) 2007: requires company to submit _______________________to Securities Commission.

• A copy of business registration

• A copy of tax file

• A copy of bank statement

• A copy of annual report