U31 ACC-part 2

U31 ACC-part 2

University

11 Qs

quiz-placeholder

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U31 ACC-part 2

U31 ACC-part 2

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Ghazwa Moukaddem

Used 4+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

-------------------------------------is to what extent the accounting information is understood by the users.

A.Relevance.

B.Reliability.

C.Timeliness

D.Understandability

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

----------------------------is the characteristic that explain how can we produce new set information from another set of information.

A.Timeliness

B.Comparability

C.Understandability

D.Verifiability

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All the following points are secondary characteristics except for -------------------------------

A.Relevance

B.Understandability

C.Comparability

D.Timeliness

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

--------------------------------are practices that are agreed by the accounting bodies and applied to firms to assist in preparing the financial statements.

A.Accounting principles

B.Accounting conventions

C.Accounting statements

D. All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

-------------------------refers to how the information is related to the financial decision-making processes.

A.Reliability

B.Timeliness

C.Relevance

D.Comparability

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

----------------------------------------is a convention that states that the firm should not anticipate incomes and gains, but provide for all expenses and losses.

A.Conservatism

B.Prudence

C.Relevance

D.Timeliness

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Representational faithfulness also known as -------------------------------

A.Relevance

B.Reliability

C.Relationship

D.Remittance

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