Question 1

Conservatism has been called the dominant principle of accounting.

Accepted Answer

A) True 
 B)False

Question 2

Under which of the following theories would the accounting equation be Total Assets - Total Liabilities = Owners' Equities?

Accepted Answer

A)  Residual equity theory 
B)  Proprietary theory 
C)  Entity theory 
D)  Commander theory 
A)  Residual equity theory 
B)  Proprietary theory 
C)  Entity theory 
D)  Commander theory

Question 3

Which of the following theories assumes that the owners and the firm are virtually identical?

Accepted Answer

A)  Residual equity theory 
B)  Proprietary theory 
C)  Entity theory 
D)  Commander theory 
A)  Residual equity theory 
B)  Proprietary theory 
C)  Entity theory 
D)  Commander theory

Question 4

The proprietary theory approach largely coincides with the components of income measurement as it is presently construed in historical cost-based systems.

Accepted Answer

A) True 
 B)False

Question 5

There are eight broad principles in ARS 3.

Accepted Answer

A) True 
 B)False

Question 6

ARS 1 and ARS 4 represent a milestone in the attempt to provide a unified theoretical underpinning for financial accounting rules by the APB.

Accepted Answer

A) True 
 B)False

Conservatism has been called the dominant principle of accounting.

Under which of the following theories would the accounting equation be Total Assets - Total Liabilities = Owners' Equities?

Which of the following theories assumes that the owners and the firm are virtually identical?

The proprietary theory approach largely coincides with the components of income measurement as it is presently construed in historical cost-based systems.

There are eight broad principles in ARS 3.

ARS 1 and ARS 4 represent a milestone in the attempt to provide a unified theoretical underpinning for financial accounting rules by the APB.

An Introduction to Accounting Theory

Accounting Theory and Accounting Research

Development of Institutional Structure of Financial Accounting

The Economics of Financial Reporting Regulation

The Search for Objectives

The Fasbs Conceptual Framework

Usefulness of Accounting Information to Investors and Creditors

Uniformity and Disclosure: Some Policy Making Directions

International Accounting

The Balance Sheet

The Income Statement

Statements of Cash Flows

Accounting for Inflation and Changing Prices

Income Taxes and Financial Accounting

Pensions and Other Postretirement Benefits

Leases

Intercorporate Equity Investments

Filters

Exam 5: Postulates, Principles, and Concepts

Conservatism has been called the dominant principle of accounting.

Under which of the following theories would the accounting equation be Total Assets - Total Liabilities = Owners' Equities?

Which of the following theories assumes that the owners and the firm are virtually identical?

The proprietary theory approach largely coincides with the components of income measurement as it is presently construed in historical cost-based systems.

There are eight broad principles in ARS 3.

ARS 1 and ARS 4 represent a milestone in the attempt to provide a unified theoretical underpinning for financial accounting rules by the APB.

An Introduction to Accounting Theory

Accounting Theory and Accounting Research

Development of Institutional Structure of Financial Accounting

The Economics of Financial Reporting Regulation

The Search for Objectives

The Fasbs Conceptual Framework

Usefulness of Accounting Information to Investors and Creditors

Uniformity and Disclosure: Some Policy Making Directions

International Accounting

The Balance Sheet

The Income Statement

Statements of Cash Flows

Accounting for Inflation and Changing Prices

Income Taxes and Financial Accounting

Pensions and Other Postretirement Benefits

Leases

Intercorporate Equity Investments

Filters