Stichworte Accounting assumptions

Stichworte: Accounting assumptions

The following are examples of external users of accounting information except

The following are examples of external users of accounting information except

When an owner withdraws cash or other assets from a business for personal use

When an owner withdraws cash or other assets from a business for personal use

What are the basic principles of preparing accounting records and statements?

What are the basic principles of preparing accounting records and statements?

A profession is distinguished by all of the following characteristics, except

A profession is distinguished by all of the following characteristics, except

Why is it important to separate accounting from asset control and operations?

Why is it important to separate accounting from asset control and operations?

Managerial accounting supports the management process least significantly by:

Managerial accounting supports the management process least significantly by:

Auditing and financial analysis gleich

Auditing and financial analysis gleich

Which of the following represents value-added time in the manufacturing cycle?

Which of the following represents value-added time in the manufacturing cycle?

What probability distribution is used to estimate the duration of an activity?

What probability distribution is used to estimate the duration of an activity?

Review tax compliance of the business is covered by what branch of accounting?

Review tax compliance of the business is covered by what branch of accounting?

Which of the following would not be considered an internal user of accounting data for the company?

Which of the following would not be considered an internal user of accounting data for the company?

The primary managerial accounting product is the companys audited financial statements.

The primary managerial accounting product is the companys audited financial statements.

Which of the following is considered an external user of the companys accounting data?

Which of the following is considered an external user of the companys accounting data?

What is the relationship between Financial Management and financial accounting?

What is the relationship between Financial Management and financial accounting?

Under accrual accounting which of the following is an expense of the current accounting period

Under accrual accounting which of the following is an expense of the current accounting period

Which one of the following managerial accounting approaches attempts to allocate manufacturing overhead in a more accurate and meaningful fashion?

Which one of the following managerial accounting approaches attempts to allocate manufacturing overhead in a more accurate and meaningful fashion?

If revenues are recognized only when a customer pays what method of accounting is being used

If revenues are recognized only when a customer pays what method of accounting is being used

What accounting term is used for the cost of goods unsold at the end of the accounting period?

What accounting term is used for the cost of goods unsold at the end of the accounting period?

Compared to financial accounting, managerial accounting places more emphasis on:

Compared to financial accounting, managerial accounting places more emphasis on:

The pervasive criterion by which accounting information can be judged is that of

The pervasive criterion by which accounting information can be judged is that of

As it relates to financial reporting, which of the following is not required of an accounting entity

As it relates to financial reporting, which of the following is not required of an accounting entity

Which of the following statements about the financial accounting standards board is correct?

Which of the following statements about the financial accounting standards board is correct?

How are amendments incorporated into the fasb accounting standards codification?

How are amendments incorporated into the fasb accounting standards codification?

Which of the following was referred to by Kelly as the most precarious of the assumptions made by a therapist using the rep test?

Which of the following was referred to by Kelly as the most precarious of the assumptions made by a therapist using the rep test?

What are the differences between management accounting and financial accounting?

What are the differences between management accounting and financial accounting?

Which of the following declares the difference between financial and managerial?

Which of the following declares the difference between financial and managerial?

Which of the following would not be considered internal user of accounting data for a company?

Which of the following would not be considered internal user of accounting data for a company?

Under the inventory method accounting records maintain a continuously updated inventory value

Under the inventory method accounting records maintain a continuously updated inventory value

Match each event in the process of accounting for manufacturing overhead with the appropriate entry.

Match each event in the process of accounting for manufacturing overhead with the appropriate entry.

The accounting equation does not have to be in balance to be correct true or false

The accounting equation does not have to be in balance to be correct true or false

When revenue is recognized when earned and expenses are recorded when incurred which basis of accounting is being used?

When revenue is recognized when earned and expenses are recorded when incurred which basis of accounting is being used?

How are revenues and expenses recognized under the accrual basis of accounting quizlet?

How are revenues and expenses recognized under the accrual basis of accounting quizlet?

Which structure is commonly Departmentalized into such areas as production marketing accounting and engineering?

Which structure is commonly Departmentalized into such areas as production marketing accounting and engineering?

Which accounting assumption or principle is being violated if a company is a party

Which accounting assumption or principle is being violated if a company is a party

What consists of the shared values and assumptions of how its members will behave?

What consists of the shared values and assumptions of how its members will behave?

Statements on standards for accounting and review services (ssars) are issued by the

Statements on standards for accounting and review services (ssars) are issued by the

Which of the following activities is not associated with the financial accounting?

Which of the following activities is not associated with the financial accounting?

A good cost accounting system is narrowly focused on a continuous reduction of costs.

A good cost accounting system is narrowly focused on a continuous reduction of costs.

If the allowance method of accounting for uncollectible receivables is used, what general ledger

If the allowance method of accounting for uncollectible receivables is used, what general ledger

Which type of inventory system requires updating the inventory balance at the end of accounting period?

Which type of inventory system requires updating the inventory balance at the end of accounting period?

Cost drivers are activities that cause costs to increase as the activity increases

Cost drivers are activities that cause costs to increase as the activity increases

Who has primary responsibility for making sure that a companys financial statements follow GAAP?

Who has primary responsibility for making sure that a companys financial statements follow GAAP?

Is the Financial Accounting Standards Board is a part of the Securities and Exchange Commission?

Is the Financial Accounting Standards Board is a part of the Securities and Exchange Commission?

Which area of public accounting means the examination of financial statement by a CPA

Which area of public accounting means the examination of financial statement by a CPA

Which of the following statement is are not incorrect regarding managerial accounting

Which of the following statement is are not incorrect regarding managerial accounting

All of the following are assumptions of the industrial organization (I/O) model EXCEPT

All of the following are assumptions of the industrial organization (I/O) model EXCEPT

A global mind-set is free of the assumptions of a single country, culture, or context.

A global mind-set is free of the assumptions of a single country, culture, or context.

Why is variable costing not in compliance with generally accepted accounting principle?

Why is variable costing not in compliance with generally accepted accounting principle?

A primary user of accounting information with a direct financial interest in the business is a

A primary user of accounting information with a direct financial interest in the business is a

What is the difference between zero accounting profit and zero economic profit? quizlet

What is the difference between zero accounting profit and zero economic profit? quizlet

What is the difference between the accounting and finance functional areas of business?

What is the difference between the accounting and finance functional areas of business?

Which of the following are the two assumptions necessary for viewing marriage as a market?

Which of the following are the two assumptions necessary for viewing marriage as a market?

Which branch of accounting is concerned with interpretation and analysis of financial statements?

Which branch of accounting is concerned with interpretation and analysis of financial statements?

What are the basic five issues that an entity should address when adopting IFRS for the first time?

What are the basic five issues that an entity should address when adopting IFRS for the first time?

When an auditor tests a clients cost accounting system the auditors tests are primarily designed to determine that?

When an auditor tests a clients cost accounting system the auditors tests are primarily designed to determine that?

What branch of accounting focuses on the preparation of financial statements for external users?

What branch of accounting focuses on the preparation of financial statements for external users?

Which branch of accounting embrace the preparation of various tax returns and tax planning necessary to minimize the impact of taxes on the firm?

Which branch of accounting embrace the preparation of various tax returns and tax planning necessary to minimize the impact of taxes on the firm?

Which concept states that business activity is separated from the owners personal activity?

Which concept states that business activity is separated from the owners personal activity?

Who are the users of accounting data How does accounting provide relevant data to these users

Who are the users of accounting data How does accounting provide relevant data to these users

What are the two basic underlying assumptions that must be employed in financial statements prepared in accordance with IFRS?

What are the two basic underlying assumptions that must be employed in financial statements prepared in accordance with IFRS?

What defines the assumptions on the basis of which financial statement of a business entity are prepared?

What defines the assumptions on the basis of which financial statement of a business entity are prepared?

Which accounting principle assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

Which accounting principle assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

Which of the following states that a transaction is not recorded in the books of accounts unless it is measurable in terms of money * 1 point?

Which of the following states that a transaction is not recorded in the books of accounts unless it is measurable in terms of money * 1 point?

Which of the principle that a company must recognize revenue in the period in which it is earned it is not considered earned until a product or service has been provided?

Which of the principle that a company must recognize revenue in the period in which it is earned it is not considered earned until a product or service has been provided?

What are the principles use to determine the revenue and expenses reported in the given accounting period?

What are the principles use to determine the revenue and expenses reported in the given accounting period?

Which accounting concept states that omitting or misstating the information could influence users of the financial statements?

Which accounting concept states that omitting or misstating the information could influence users of the financial statements?

Which accounting concept states that business transactions are required to be kept separate from those of its owners?

Which accounting concept states that business transactions are required to be kept separate from those of its owners?

Which principle states that a transaction is not recorded in the books of accounts unless it is measurable in terms of money?

Which principle states that a transaction is not recorded in the books of accounts unless it is measurable in terms of money?

Which branch of accounting will provide data that is used for raising finance from external sources?

Which branch of accounting will provide data that is used for raising finance from external sources?

Difference between a release of information authorization and an accounting of disclosures

Difference between a release of information authorization and an accounting of disclosures

Is an accounting record that shows the difference between the bank statement balance and the balance in the companys books?

Is an accounting record that shows the difference between the bank statement balance and the balance in the companys books?

Which of the following cost flow assumptions is used for inventory when an entity builds townhouses?

Which of the following cost flow assumptions is used for inventory when an entity builds townhouses?

Which of the following is most likely to use a process cost accounting system sugar refiner?

Which of the following is most likely to use a process cost accounting system sugar refiner?

Which of the following products would most likely use a job order costing accounting system?

Which of the following products would most likely use a job order costing accounting system?

Why cost accounting information does caters mostly the needs of internal users rather than external?

Why cost accounting information does caters mostly the needs of internal users rather than external?

What is responsibility accounting and what are the three most common forms of responsibility centers?

What is responsibility accounting and what are the three most common forms of responsibility centers?

Ethics is a branch of philosophy that deals with what is considered to be right and wrong.

Ethics is a branch of philosophy that deals with what is considered to be right and wrong.

Assume mercy hospital uses accrual accounting. which of the following statements is most correct?

Assume mercy hospital uses accrual accounting. which of the following statements is most correct?

Which of these assumptions is not associated with strategies for goods producing location decisions?

Which of these assumptions is not associated with strategies for goods producing location decisions?

Which of the following tends to be the focus of the managerial accounting than the financial accounting?

Which of the following tends to be the focus of the managerial accounting than the financial accounting?

Is the difference between the standard cost of materials for the actual output and the actual cost of materials?

Is the difference between the standard cost of materials for the actual output and the actual cost of materials?

Which of the following is a difference between managerial accounting and financial accounting quizlet?

Which of the following is a difference between managerial accounting and financial accounting quizlet?

Which of the following is a difference between financial accounting and managerial accounting quizlet?

Which of the following is a difference between financial accounting and managerial accounting quizlet?

The role of managerial accounting in organizations is the same as it has been over many years

The role of managerial accounting in organizations is the same as it has been over many years