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Accounting Chapter 1

14 Questions  I  By Aeriwyn
Accounting Quizzes & Trivia
Chapter 1 Accounting Questions. Using for self-study.  

  
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Question Excerpt

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1.  Users of financial reports include all of the following except
A.
B.
C.
D.
2.  The information provided by financial reporting pertains to
A.
B.
C.
D.
3.  How does accounting help the capital allocation process attract investment capital?
A.
B.
C.
D.
4.  Financial statements in the early 2000s provide information related to
A.
B.
C.
D.
5.  What is a major objective of financial reporting?
A.
B.
C.
D.
6.  Accrual accounting is used because
A.
B.
C.
D.
7.  What is the purpose of Emerging Issues Task Force?
A.
B.
C.
D.
8.  The American Institute of Certified Public Accountants (AICPA) continues to be involved in all of the following except
A.
B.
C.
D.
9.  Rule 203 of the Code of Professional Conduct address:
A.
B.
C.
D.
10.  The purpose of the International Accounting Standards Board is to
A.
B.
C.
D.
11.  What is "expectation gap"?
A.
B.
C.
D.
12.  Which of the following is an ethical concern of accountants?
A.
B.
C.
D.
13.  Authoritative standards for iGAAP include:
A.
B.
C.
D.
14.  Which of these statements regarding the iGAAP and U.S. GAAP is correct?
A.
B.
C.
D.
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