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Accounting Principles Quiz

10 Questions  I  By Sjbruce
Accounting Principles Quiz
Revision of Accounting theory covered in Tutorial Number 1.

  
Changes are done, please start the quiz.


Question Excerpt

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1.  Proprietary companies are allowed to sell shares to the public.  True or False?
A.
B.
2.  Who are the three main accounting bodies in Austrailia? 
A.
B.
C.
D.
3.  The monetary convention assumes that all transactions are recorded in a __________  monetary unit.
4.  The going concern convention assumes that the life of a business will continue indefinitely.  True or False?
A.
B.
5.  Which is the accounting method required to be used for Financial Statements in Australia?
A.
B.
6.  A trading or retail business sells _________ to the public.
7.  Public Companies are not listed on the Australian Stock Exchange.  True or False?
A.
B.
8.  SAC stands for "Statement of ___________  concepts.
9.  A service business sells _________ to the public.
10.  Who is the body responsible for developing accounting standards in Australia?
A.
B.
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