
nhbh

Quiz
•
Business
•
University
•
Hard
Rosanna Rodriguez
FREE Resource
40 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would not be considered a user of accounting information
Owners
Creditors
Debtors
Stockholders
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the process of determining how and at what cost money is allocated among competing interests?
Capital allocation
Financial allocation
Physical allocation
Accounting allocation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Financial Accounting Standards Board does not involve the public in its due process
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following are considered ingredients of Faithful Representation except for
Completeness
Neutrality
Free from error
Absolutely perfect
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which element of the financial statements would be found on an Income Statement?
Cash
Equity
Expenses
Liabilities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When must revenue be recognized under the Revenue Recognition Principle
Before the performance obligation is satisfied
When the owners deem it appropriate
When the performance obligation is satisfied
Only at month end
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The expectations gap is the difference between what the public thinks accountants should do versus what accountants think they can do.
True
False
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