Understanding Accounting Theories

Understanding Accounting Theories

University

5 Qs

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Understanding Accounting Theories

Understanding Accounting Theories

Assessment

Quiz

Other

University

Practice Problem

Hard

Created by

Sue Ooi

Used 6+ times

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true about theories in general?

Theories can include any coherent set of ideas or statements to explain, or provide guidance in respect of, certain phenomena.

Theories must be empirically based to describe what is, rather than what should be.

Theories must be based on inductive reasoning to provide a generalisation or prediction.

All of the given options are correct.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Normative accounting theories and research seek to:

Explain and predict particular phenomena based on observation

Prescribe particular approaches not driven by existing practices

Describe what is normal, or generally accepted, practice

All of the given options are correct.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A theory that predicts that, if certain conditions are met then particular accounting practices will be observed, is an example of:

Positive Accounting Theory

Negative Accounting Theory

Normative Accounting Theory

Descriptive Accounting Theory

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not an example of a normative accounting theory or research?

Conceptual frameworks of accounting

Critical perspectives of accounting practice

Fair value accounting

Capital markets-based (security price) research

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a dominant paradigm in accounting prior to 1960?

Fair value accounting

Conceptual framework of accounting

Historical cost accounting

Continuously contemporary accounting

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