Various multiple choice questions related to accounting principles, financial statement analysis, and business trasactions.
Understand the Problem
The image contains multiple-choice questions related to accounting principles, financial statement analysis, and business transactions. These questions assess understanding of key accounting concepts and their application in real-world scenarios.
Answer
11. c, 12. b, 13. d, 14. c, 15. a, 16. b, 17. d, 18. c, 19. b, 20. a
Here are the answers to the multiple-choice questions:
- c. Creditors
- b. Investors
- d. Time-Period
- c. Accrual Basis
- a. Monetary Unit
- b. Going Concern
- d. Objectivity Principle
- c. Cost Principle
- b. Materiality Principle
- a. Matching Principle
Answer for screen readers
Here are the answers to the multiple-choice questions:
- c. Creditors
- b. Investors
- d. Time-Period
- c. Accrual Basis
- a. Monetary Unit
- b. Going Concern
- d. Objectivity Principle
- c. Cost Principle
- b. Materiality Principle
- a. Matching Principle
More Information
Accounting standards and principles provide a framework for preparing financial statements.
Tips
Read each question carefully and understand the accounting principle or concept being tested.
Sources
- Ch. 3 Multiple Choice - Principles of Accounting, Volume 1 - OpenStax - openstax.org
- [PDF] Chapter 2 Questions Multiple Choice - Harper College - harpercollege.edu
- [PDF] Chapter 1 Questions Multiple Choice - Harper College - harpercollege.edu
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