Grace_Chap 11_Prudence Theory

Grace_Chap 11_Prudence Theory

12th Grade

8 Qs

quiz-placeholder

Similar activities

Accounting Equation

Accounting Equation

12th Grade

12 Qs

Financial Statement Analysis

Financial Statement Analysis

12th Grade

10 Qs

Entrepreneurial Finance

Entrepreneurial Finance

9th - 12th Grade

10 Qs

Forms of Business Ownership Math Quiz

Forms of Business Ownership Math Quiz

11th - 12th Grade

10 Qs

Liquidity Ratios

Liquidity Ratios

12th Grade - University

11 Qs

Accounting Principles & Accounting Equation

Accounting Principles & Accounting Equation

11th Grade - University

11 Qs

ESB Financial Formulas

ESB Financial Formulas

9th - 12th Grade

11 Qs

IBDP Business Unit 3 Key Terms

IBDP Business Unit 3 Key Terms

12th Grade

12 Qs

Grace_Chap 11_Prudence Theory

Grace_Chap 11_Prudence Theory

Assessment

Quiz

Business

12th Grade

Easy

Used 4+ times

FREE Resource

8 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The _____ theory states that a business must avoid overstating its assets and profits and understating its liabilities and losses. Thus, non-current assets are presented at net book value, i.e. cost less accumulated depreciation to avoid overstating the value of non-current assets.

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The prudence theory states that a business must _____ _____ (2 words) its assets and profits and understating its liabilities and losses. Thus, non-current assets are presented at net book value, i.e. cost less accumulated depreciation to avoid overstating the value of non-current assets.

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The prudence theory states that a business must avoid overstating its _____ _____ _____ (3 words) and understating its liabilities and losses. Thus, non-current assets are presented at net book value, i.e. cost less accumulated depreciation to avoid overstating the value of non-current assets.

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The prudence theory states that a business must avoid overstating its assets and profits and _____ its liabilities and losses. Thus, non-current assets are presented at net book value, i.e. cost less accumulated depreciation to avoid overstating the value of non-current assets.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The prudence theory states that a business must avoid overstating its assets and profits and understating its _____ _____ _____ (3 words). Thus, non-current assets are presented at net book value, i.e. cost less accumulated depreciation to avoid overstating the value of non-current assets.

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The prudence theory states that a business must avoid overstating its assets and profits and understating its liabilities and losses. Thus, non-current assets are presented at _____ _____ _____ (3 words), i.e. cost less accumulated depreciation to avoid overstating the value of non-current assets.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The prudence theory states that a business must avoid overstating its assets and profits and understating its liabilities and losses. Thus, non-current assets are presented at net book value, i.e. cost less accumulated depreciation to _____ _____ (2 words) the value of non-current assets.

8.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The prudence theory states that a business must avoid overstating its assets and profits and understating its liabilities and losses. Thus, non-current assets are presented at net book value, i.e. cost less accumulated depreciation to avoid overstating the value of _____ _____ (2 words).