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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.  Name one of the three different business types?
2.  SAC stands for "Statement of ___________  concepts.
3.  A trading or retail business sells _________ to the public.
4.  The accrual basis assumes that transactions are brought to account when they are __________  or incurred rather than received or paid.
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.  The accounting period convention assumes that the life of a business is divided into _________ time periods.
8.  Proprietary companies are allowed to sell shares to the public.  True or False?
A.
B.
9.  Who are the three main accounting bodies in Austrailia? 
A.
B.
C.
D.
10.  A service business sells _________ to the public.
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