Accounting Principles Quiz

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

  
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Questions and Answers

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1.  Who are the three main accounting bodies in Austrailia? 
A.
B.
C.
D.
2.  Name one of the three different business types?
3.  The cash basis assumes that transactions are recorded only when the _________  is received or paid.
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.  Proprietary companies are allowed to sell shares to the public.  True or False?
A.
B.
7.  The going concern convention assumes that the life of a business will continue indefinitely.  True or False?
A.
B.
8.  The accounting period convention assumes that the life of a business is divided into _________ time periods.
9.  Select from the following list those words which describe the characteristics of financial information.
A.
B.
C.
D.
E.
F.
G.
10.  Who is the body responsible for developing accounting standards in Australia?
A.
B.
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