100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Accounting Principles & Assumptions questions and answers $13.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Minnesota School Of Business
  4.  
  5. Accounting Principles

Exam (elaborations)

Accounting Principles & Assumptions questions and answers
 1 view  0 purchase

Measurement Principle Records assets in the accounting records at their cost or purchase price Revenue (Revenue Recognition) Principle States that revenue is recognized when it is earned Matching Principle Reports the expenses incurred in generating the revenue in the same period a...

[Show more]

Preview 1 out of 2  pages

Document information

  • October 5, 2023
  • 2
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • accounting principles assumptions

Written for

All documents for this subject (31)

Seller

avatar-seller
GUARANTEEDSUCCESS

Reviews received

Content preview

Accounting Principles exam questions with 100% correct answers
Compatibility Principle - answer Information system principle that prescribes an accounting system to conform with a company's activities, personnel, and structure.
Conservatism Constraint - answer Principle that prescribes the less optimistic estimate when two estimates are about equally likely.
Consistency Concept - answer Principle that prescribes use of the same accounting methods over time so that financial statements are comparable across periods.
Control Principle - answer Information system principle that prescribes an accounting system to aid managers in controlling and monitoring business activities.
Cost-benefit Principle - answer Information system principle that prescribes the benefits from an activity in an accounting system to outweigh the costs of that activity.
Cost-benefit Constraint - answer The notion that the benefit of a disclosure exceeds the cost of the disclosure.
Cost Principle - answer Accounting principle that prescribes financial statement information to be based on actual costs incurred in business transactions.
Flexibility Principle - answer Information system principle that prescribes an accounting system be able to adapt to changes in the company, its operations, and needs of decision makers.
Full Disclosure Principle - answer Principle that prescribes financial statements (including notes) to report all relevant information about an entity's operations and financial condition.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller GUARANTEEDSUCCESS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79650 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart