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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.  The accounting period convention assumes that the life of a business is divided into _________ time periods.
2.  The cash basis assumes that transactions are recorded only when the _________  is received or paid.
3.  Name one of the three different business types?
4.  Which is the accounting method required to be used for Financial Statements in Australia?
A.
B.
5.  Select the three different types of businesses that operate in Australia.
A.
B.
C.
D.
E.
6.  If a monetary value cannot be given to a transaction, then it cannot be recorded in the books.  True or False?
A.
B.
7.  Reliable accounting information is information that is supported by  __________ documents.
8.  Public Companies are not listed on the Australian Stock Exchange.  True or False?
A.
B.
9.  The monetary convention assumes that all transactions are recorded in a __________  monetary unit.
10.  A trading or retail business sells _________ to the public.
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