Accounting Principles Quiz

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

  
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1.  Name one of the three different business types?
2.  Public Companies are not listed on the Australian Stock Exchange.  True or False?
A.
B.
3.  Who are the three main accounting bodies in Austrailia? 
A.
B.
C.
D.
4.  The going concern convention assumes that the life of a business will continue indefinitely.  True or False?
A.
B.
5.  SAC stands for "Statement of ___________  concepts.
6.  Reliable accounting information is information that is supported by  __________ documents.
7.  Which is the accounting method required to be used for Financial Statements in Australia?
A.
B.
8.  In a Government department, for materiality, it would be important to ensure that paper clips and pins are counted at the end of the financial year.  True or False?
A.
B.
9.  The accrual basis assumes that transactions are brought to account when they are __________  or incurred rather than received or paid.
10.  Proprietary companies are allowed to sell shares to the public.  True or False?
A.
B.
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