Accounting Principles Quiz

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

  
Changes are done, please start the quiz.


Question Excerpt

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
1.  The accrual basis assumes that transactions are brought to account when they are __________  or incurred rather than received or paid.
2.  The accounting period convention assumes that the life of a business is divided into _________ time periods.
3.  A trading or retail business sells _________ to the public.
4.  The cash basis assumes that transactions are recorded only when the _________  is received or paid.
5.  A service business sells _________ to the public.
6.  Select from the following list those words which describe the characteristics of financial information.
A.
B.
C.
D.
E.
F.
G.
7.  Which is the accounting method required to be used for Financial Statements in Australia?
A.
B.
8.  Who are the three main accounting bodies in Austrailia? 
A.
B.
C.
D.
9.  The monetary convention assumes that all transactions are recorded in a __________  monetary unit.
10.  Select the three different types of businesses that operate in Australia.
A.
B.
C.
D.
E.
Back to top


to post comments.

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz