Exam 1: An Introduction to Accounting Theory

Which of the following groups carry out most accounting research?

In an accounting context, which of the following represents the degree of consensus among measurers in situations where a given group of measurers having similar instruments and constraints group measures the same attribute of a given object?

Which of the following has/have been the accepted valuation system for published financial statements throughout the financial history of the United States?

Using ratio scale measurement is possible in accounting.

In a ratio scale, the zero point implies "nothingness," or the absence of the quality being measured.

Accounting theory includes the basic rules, definitions, and principles that underlie the drafting of accounting standards and how they are derived.

Which of the following is a measure of predictive ability?

The simplest type of measuring system is the:

Which of the following specifically refers to the process of arriving at a pronouncement issued by the FASB or SEC?

Give at least three examples of how accounting numbers may affect social reality.

Accounting theory includes conceptual frameworks, accounting legislation, valuation models, and hypotheses and theories.

Assessment measures are not concerned with particular attributes of objects.

List the four types of measurement scales in order of measurement rigor. Describe and give examples of each type of scale.

A chart of accounts is an example of an ordinal classification.

Measurement is an integral part of accounting theory.

All accounting measurements are of either the assessment or the prediction variety.

Of the valuation systems discussed in your text, which one is purely theoretical, with virtually no operable practicability on a statement-wide basis?

Which of the following is an example of a measurement rather than a calculation?

Which of the following is not true regarding accounting theory?

Throughout the financial history of the United States, current value has been the accepted valuation system for published financial statements.