Accounting Principles Quiz

Accounting Principles Quiz

12th Grade

9 Qs

quiz-placeholder

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Accounting Principles Quiz

Accounting Principles Quiz

Assessment

Quiz

Mathematics

12th Grade

Medium

Created by

Harmawaty Nurkasman

Used 2+ times

FREE Resource

9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The accounting principle that states companies and owners should be accounted for separately.

business entity concept

going concern concept

monetary unit assumption

periodicity assumption

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Companies not disclosing an imminent bankruptcy would violate the:

monetary unit assumption

going concern concept

business entity concept

periodicity assumption

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The assumption that states that businesses can divide up their activities into artificial time periods.

periodicity assumption

business entity concept

monetary unit assumption

going concern concept

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Assets are recorded at their original purchase price according to the:

materiality principle

historical cost principle

cost benefit principle

consistency principle

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Management concealing important financial information violates the:

consistency principle

historical cost principle

full disclosure principle

materiality principle

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is not a value of accounting relevance?

predictive value

reliability

feedback value

timeliness

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is not a value of accounting reliability?

verifiability

representational faithfulness

neutrality

timeliness

8.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Switching accounting principles every year would violate the:

historical cost principle

conservatism principle

consistency principle

full disclosure principle

9.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Recording expenses and revenues in the same period in which they occur.

industry practices constraint

objectivity principle

matching principle

historical cost principle