Directions: State what accounting principle has been applied on each number. Choose your answers from the box. Write your answers on a separate sheet of paper. Materiality Conservatism Time period Objectivity Disciosure Monetary unit Cost Revenue Recognition Going Concern Business entity J. Mr. Lopez has his shoe branch in America and the financial records there are in dollars. 6. Ms. Maricar kept all the relevant information on the accounting firm she is working on and she ensured that everything was written and recorded on the financial reports. 7. Vien is a cashier in a supermarket. She ensures that all transactions are rightly recorded.
Directions: State what accounting principle has been applied on each number. Choose your answers from the box. Write your answers on a separate sheet of paper. Materiality Conservatism Time period Objectivity Disciosure Monetary unit Cost Revenue Recognition Going Concern Business entity J. Mr. Lopez has his shoe branch in America and the financial records there are in dollars. 6. Ms. Maricar kept all the relevant information on the accounting firm she is working on and she ensured that everything was written and recorded on the financial reports. 7. Vien is a cashier in a supermarket. She ensures that all transactions are rightly recorded.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer this with explanation
Transcribed Image Text:Directions: State what accounting principle has been applied on each number.
Choose your answers from the box. Write your answers on a separate sheet
of paper.
Materiality
Conservatism
Monetary unit
Cost
Time period
Objectivity
Disciosure
Revenue Recognition
Going Concern
Business entity
J. Mr. Lopez has his shoe branch in America and the financial records there are in
dollars.
6. Ms. Maricar kept all the relevant information on the accounting firm she is working
on and she ensured that everything was written and recorded on the financial
rерorts.
7. Vien is a cashier in a supermarket. She ensures that all transactions are rightly
recorded.
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