B215 Lesson 4 Preclass Microlearning

B215 Lesson 4 Preclass Microlearning

12th Grade

6 Qs

quiz-placeholder

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B215 Lesson 4 Preclass Microlearning

B215 Lesson 4 Preclass Microlearning

Assessment

Quiz

Other

12th Grade

Practice Problem

Hard

Created by

SY Yeo

Used 3+ times

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6 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

_______ accounting is an accounting method that records revenues and expenses that are earned or incurred, even if the money is not received or paid.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the type of accounting principle:

Revenue must be recorded in the period when the product or service was delivered.

Revenue Recognition Principle

o

Historical Cost Principle

Matching Principle

Full-disclosure Principle

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the type of accounting principle:

Expenses are recognized in the same period as the revenue they helped generate.

Revenue Recognition Principle

o

Historical Cost Principle

Matching Principle

Full-disclosure Principle

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the type of accounting principle:

The value of an asset should be recorded based on its acquisition cost.

Revenue Recognition Principle

o

Historical Cost Principle

Matching Principle

Full-disclosure Principle

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the accounting assumption:

Businesses must keep their transactions separate from the owners or other businesses.

Economic Entity Assumption

Periodicity Assumption

Monetary Unit Assumption

Going Concern Assumption

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the accounting assumption:

The business is assumed to be in operation for an indefinite period of time.

Economic Entity Assumption

Periodicity Assumption

Monetary Unit Assumption

Going Concern Assumption