Accounting MCQs
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Question 145medium
The matching concept matches which of the following?
Question 146hard
The allocation of owner's private expenses to his/her business violates which of the following?
Question 147hard
The going concern concept assumes that
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Question 148hard
American companies prepare their financial statement in Dollars whereas Japanese companies produce financial statement in Yen. This is an example of:
Question 149hard
Which of the following is time spann into which the total life of a business is divided for the purpose of preparing financial statements?
Question 150hard
Information about an item is _______ if its ommission or misstatement might influence the financial decision of the users taken on the basis of that information
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Question 151hard
Exercising a degree of caution in the case of judgements needed under the condition of uncertainity is the assumption of which of the following accounting concepts?
Question 152hard
Which one of the following concepts states that the publication or presentation of financial statements should not be delayed?
Question 153hard
Land on lease should be shown in Blance sheet contrary to the fact that the company does not own that piece of land is the implementation of which accounting concept?