
Understanding Accounting Theories
Authored by Sue Ooi
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University
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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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