Accounting principles are the essential guidelines under which ................. prepare their financial statements.

Unit3

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Nguyễn Linh
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40 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
business
banks
businesses
auditors
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
These principles guide the methods and decisions for a business over a short and ................. term.
big
long
small
high
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
. For both internal and ................. reporting purposes, it is important to understand the concepts presented below because they serve as a guideline to the analysis of financial reporting issues.
external
longexported
imported
extra
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In order to make this language to convey the same meaning to all people, it is necessary that it should be ................. on certain uniform scientifically laid down standards.
base
based
basic
basically
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
. The matching concept does not mean that revenues and ................. for a period are equal.
income
interest
capital
expenses
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A fair presentation of the results of a firm’s operations during a period of time requires that all expenses incurred in generating that period’s revenues be ................. from the revenues earned.
deducted
conducted
managed
added
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Pending lawsuits, ................. transactions, or other conditions may have imminent and significant effects on the company's financial status.
complete
completed
incomplete
uncomplete
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