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Accounting Principles Quiz

10 Questions  I  By Sjbruce
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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.  A trading or retail business sells _________ to the public.
2.  Select from the following list those words which describe the characteristics of financial information.
A.
B.
C.
D.
E.
F.
G.
3.  The Acccounting (or business) entity convention states that "business is a separate entity or body from the owner".  True or False?
A.
B.
4.  Who is the body responsible for developing accounting standards in Australia?
A.
B.
5.  SAC stands for "Statement of ___________  concepts.
6.  Who are the three main accounting bodies in Austrailia? 
A.
B.
C.
D.
7.  Which is the accounting method required to be used for Financial Statements in Australia?
A.
B.
8.  The monetary convention assumes that all transactions are recorded in a __________  monetary unit.
9.  A service business sells _________ to the public.
10.  Proprietary companies are allowed to sell shares to the public.  True or False?
A.
B.
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