test 1 tckt

1. According to the VAS No.1- General standards, fundamental accounting requirements for accounting information include: 

 

• A. Faithfulness, Objectiveness, Adequacy. Timeliness, understandability, Comparability.

• B. Faithfulness, Objectiveness, Adequacy. Timeliness, understandability. Comparability.Consistency 

• C. Historical cost, Matching. Consistency, Prudence, Materiality

   

• D. Accruals basic, Continuous operation, Historical cost, Matching, Consistency,Prudence, Materiality.

2. According to the VAS No.1- General standards, fundamental accounting principles are: 

 

• A. Historical cost, Matching, Consistency, Prudence, Materiality

   

• B. Faithfulness, Objectiveness, Adequacy, Timeliness, understandability, Comparability.

• C. Accruals basic, Going concerns, Historical cost. Matching, Consistency, Prudence, Materiality.

   

• D. Faithfulness, Objectiveness, Adequacy, Timeliness, understandability. Comparability, Consistency.

   

3. Which statement is the most appropriate regarding to basic content of accounting organization in enterprises:

 

• A. Organization of collecting accounting information, Organization of systematizing and processing accounting information, Organization of providing accounting information, Organization of accounting apparatus.

   

• B. Organization of collecting accounting information, Organization of systematizing and processing accounting information, Organization of providing accounting information, Organization of accounting apparatus, Organization of inspecting accounting information.

• C. Organization of collecting accounting information, Organization of systematizing and processing accounting information, Organization of preparing and submitting financial statements, Organization of accounting apparatus, Organization of inspecting accounting information.

• D. Organization of collecting accounting information, Organization of systematizing and processing accounting information, Organization of preparing and submitting financial statements, Organization of accounting apparatus.

   

4. Accounting period can be

• A.Yearly

• B. Yearly, quarterly

• C. Yearly, quarterly,monthly 

• D. Weekly.

5. Which statement is correct regarding consistency principle:

• A. Adopted accounting methods can be changed.

• B. Adopted accounting methods can be changed if necessary. 

• C. Adopted accounting methods can be changed but a business must explain why this change is made and its influence over financial statements.

• D. None of these above mentioned statements is correct

6. Which below statement is the most appropriate?

• A. Revenues and incomes are recognized only when there is reasonable certainty of potential economic benefits, whereas expenses must be recognized when there is reasonable likelihood of potential occurrence.

• B. Revenues and expenses are only recognized when there is reasonable certainty of economic benefits inflow to or outflow from the entity

   

• C. Revenues and incomes are only recognized when there is potential economic benefits inflow, whereas expenses must be recognized when there is reasonable certainty of occurrence.

   

• D. Revenues and expenses can only be recognized when cash is collected or paid out.

7. Which below statement is true?

• A. Accounting policies and accounting methods applied are unchangeable 

• B. Accounting policies and accounting methods must be applied consistently for at least 3 fiscal accounting periods.

   

• C. Accounting policies and accounting methods must be applied consistently no longer than 5 consecutive fiscal accounting periods.

• D. Accounting policies and accounting methods must be applied consistently for at least 1 fiscal accounting period.

   

8. Basic requirements for accounting organization?

• A. Accounting organization must be suitable with production method, management level and business operation characteristics.

   

• B. Accounting organization must be suitable with management requirements, managerial level and technical equipment in enterprises.

• C. Accounting organization must be economical and efficiency. 

• D. All statements are correct

9. Which below statement describe the definition of accounting vouchers?

• A. Accounting vouchers can be seen as a means of information. 

   

• B. Accounting vouchers are legal documents to prove for occurred and completed business transactions of one enterprise.

   

• C. Accounting vouchers are the basis of bookkeeping process

• D. All of above-mentioned statements

10. According to the Vietnamese accounting laws, a voucher must contain following elements 

• A. Voucher title and code of vouchers; Date; Name and address of person/entity who creates these vouchers.

• B. Voucher title and code of vouchers; Date: Name and address of person/entity who creates these vouchers; Name and address of person/entity who receives vouchers.

• C. Voucher title and code of vouchers; Date; Name and address of person/entity who creates these vouchers; Name and address of person/entity who receives vouchers; Content of vouchers; Quantity, unit price and total value.

• D. Voucher title and code of vouchers; Date; Name and address of person/entity who creates these vouchers; Name and address of person entity who receives vouchers; Content of vouchers; Quantity, unit price and total value; Signatures and full name of involved persons.