Name the Accounting Theory
Authored by Sook Theng Fong
Business
9th Grade
Used 1+ times
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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The activities of a business are separate from the actions of the owner. All transactions are recorded from the point of view of the business
Accounting Entity Theory
Accounting Period Theory
Going Concern Theory
Monetary Theory
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business is assumed to have an indefinite economic life unless there is credible evidence that it may close down.
Accounting Entity Theory
Accounting Period Theory
Going Concern Theory
Monetary Theory
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The life of a business is divided into regular time intervals.
Accounting Entity Theory
Accounting Period Theory
Going Concern Theory
Monetary Theory
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting information recorded must be supported by reliable and verifiable evidence so that financial statements will be free from opinions and biases.
Historical Cost Theory
Objectivity Theory
Materiality Theory
Monetary Theory
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Only business transactions that can be measured in monetary terms are recorded.
Historical Cost Theory
Objectivity Theory
Materiality Theory
Monetary Theory
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Transactions should be recorded at their original cost.
Historical Cost Theory
Objectivity Theory
Materiality Theory
Monetary Theory
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