Accounting theory

Which accounting theory requires business to be treated differently from the owner(s)?

• accounting period theory

• monetary theory

• accounting entity theory

• consistency theory

The theory which requires business to use the same depreciation method is ____ theory.

The business uses a number of documents to support its recording. This is following ____theory.

The theory which requires business to report its performance annually is _____ theory.

A stapler is recorded as stationery expense even though it can be used for more than one accounting period. Which theory allows this to be possible?

The business needs to adjust for interest payable at year end. Other than accrual theory, which other theory is being followed when adjustments are made?

Depreciation of non-current assets follows ____ theory.

Jo received commission income for next month. However, she did not report this in the statement of financial performance. She is following ____theory

Jerry started a business and assumes it will continue into the future. This is in accordance with ____ theory.

Although land has appreciated by 200%, Helen still shows her land at original purchase price of $500 000. Which theory has she followed?