[NS] Chap 1 Quiz 1

Whether to continue working for the business

• Government

• Customers

• Employees

• Employers

To determine how much to tax the business

• Government

• Customers

• Employees

• Suppliers

Whether to continue buying from the business & does the business provides after-sales service

• Government

• Customers

• Employees

• Lenders

Trading business

• Cinema

• Barber

• Airline

• Supermarket

Service business

• Tuition agency

• Bookshop

• Clothes retailer

Two ethics of Accounting

• Integrity & Objectivity

• Objectivity & Honesty

• Integrity & Resilience

When the boss threaten accountant to record higher sales figure, if not accountant will be fired. Accountant followed the instruction: Violated : ____

• Integrity

• Objectivity

• Honesty

• Accounting information system

Business is assumed to have indefinite economic life.

• Accounting period theory

• Going concern theory

• Matching theory

• Accounting entity theory

The business and owner are treated as separate entities.

• Accounting period theory

• Going concern theory

• Matching theory

• Accounting entity theory

All transactions are recorded from the point of view of the business.

• Accounting period theory

• Going concern theory

• Matching theory

• Accounting entity theory