monetary Unit 7. The principle of objectivity includes the concept of A. Summarization B. Verifiability C. Classification D. Conservatism
monetary Unit 7. The principle of objectivity includes the concept of A. Summarization B. Verifiability C. Classification D. Conservatism
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter2: Financial Reporting: Its Conceptual Framework
Section: Chapter Questions
Problem 7C
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Question
![.
MULTIPLE CHOICE. Choose the best answer among the following choices.
Time Dor
SLUIC Monetary Unit
7. The principle of objectivity includes the concept of
A. Summarization
B. Verifiability
C. Classification
D. Conservatism
8. The financial accounting information is directed toward the common needs of users and is
independent of presumptions about particular needs and desires of specific users.
A. Completeness
B. Verifiability
C. Relevance
D. Neutrality
9. The attribute of relevance include ALL EXCEPT:
minator.
A. Predictive value
B. Feedback value
C. Materiality
D. Neutrality
10. The assumption that an entity will continue to operate for the foreseeable future is called
A. Accrual basis
B. Comparability
C. Going concern
D. Cash basis](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F345814fa-de43-4c36-b40c-28f9a134eaa3%2F24196215-85a0-4a15-8b0e-ca9cc8ed85eb%2Ftijp68o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:.
MULTIPLE CHOICE. Choose the best answer among the following choices.
Time Dor
SLUIC Monetary Unit
7. The principle of objectivity includes the concept of
A. Summarization
B. Verifiability
C. Classification
D. Conservatism
8. The financial accounting information is directed toward the common needs of users and is
independent of presumptions about particular needs and desires of specific users.
A. Completeness
B. Verifiability
C. Relevance
D. Neutrality
9. The attribute of relevance include ALL EXCEPT:
minator.
A. Predictive value
B. Feedback value
C. Materiality
D. Neutrality
10. The assumption that an entity will continue to operate for the foreseeable future is called
A. Accrual basis
B. Comparability
C. Going concern
D. Cash basis
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