Question 1

Which of the following hierarchy of qualities did Statement of Financial Accounting Concepts No.2 indicate as being most important?

Accepted Answer

A) Relevance 
B) Reliability 
C) Verifiability 
D) Decision usefulness 
A) Relevance 
B) Reliability 
C) Verifiability 
D) Decision usefulness D

Question 2

Under Statement of Financial Accounting Concepts No.2,which of the following interacts with both relevance and reliability to contribute to the usefulness of information?

Accepted Answer

A) Comparability 
B) Timeliness 
C) Neutrality 
D) Predictive value 
A) Comparability 
B) Timeliness 
C) Neutrality 
D) Predictive value A

Question 3

An item is considered material if

Accepted Answer

A) It doesn't costs a lot of money. 
B) It is of a tangible good. 
C) It is likely to influence the decision of an investor or creditor. 
D) The cost of reporting the item is greater than its benefits 
A) It doesn't costs a lot of money. 
B) It is of a tangible good. 
C) It is likely to influence the decision of an investor or creditor. 
D) The cost of reporting the item is greater than its benefits C

Question 4

Which of the following is not a qualitative characteristic associated with reliability?

Accepted Answer

A) Verifiable 
B) Conservatism 
C) Neutral 
D) Faithful representation 
A) Verifiable 
B) Conservatism 
C) Neutral 
D) Faithful representation

Question 5

Which of the following organizations published the monograph titled A Statement of Accounting Principles?

Accepted Answer

A) SEC 
B) AAA 
C) AIA 
D) NAA 
A) SEC 
B) AAA 
C) AIA 
D) NAA

Question 6

Discuss how the FASB and the IASC acted to improve comparability under the Norwalk Agreement.

Accepted Answer

In the Norwalk Agreement,the FASB and IA

Question 7

Which of the following economists most influenced the views of DR Scott?

Accepted Answer

A) Thorstein Veblen 
B) John Hicks 
C) Karl Marx 
D) John Smith 
A) Thorstein Veblen 
B) John Hicks 
C) Karl Marx 
D) John Smith

Question 8

Who was the author of Accounting Research Study No.1,The Basic Postulates of Accounting?

Accepted Answer

A) Robert Sprouse 
B) Maurice Moonitz 
C) Alvin Jennings\ 
D) Thomas Hatfield 
A) Robert Sprouse 
B) Maurice Moonitz 
C) Alvin Jennings\ 
D) Thomas Hatfield

Question 9

Discuss accounting Research Study No.1.

Accepted Answer

Accounting Research Study No.1,The Basic

Question 10

What two approaches to present value were discussed in SFAS No.7?

Accepted Answer

The two approaches to present value were

Question 11

Discuss the issue of principles based vs.rule based accounting standards.

Accepted Answer

To illustrate the difference between rul

Question 12

Under Statement of Financial Accounting Concepts No.2,which of the following is an ingredient of the primary quality of reliability?

Accepted Answer

A) Understandability 
B) Verifiability 
C) Predictive value 
D) Materiality 
A) Understandability 
B) Verifiability 
C) Predictive value 
D) Materiality

Question 13

What were the approaches to accounting theory identified by SATTA?

Accepted Answer

SATTA first embarked on a review of acco

Question 14

Which of the following is not an approaches to accounting theory AS categorized by Statement on Accounting Theory and Theory Acceptance?

Accepted Answer

A) Classical, 
B) Neoclassical 
C) Decision usefulness 
D) Information economics. 
A) Classical, 
B) Neoclassical 
C) Decision usefulness 
D) Information economics.

Question 15

Under Statement of Financial Accounting Concepts No.2,which of the following relates to both relevance and reliability?

Accepted Answer

A) Timeliness 
B) Materiality 
C) Verifiability 
D) Neutrality 
A) Timeliness 
B) Materiality 
C) Verifiability 
D) Neutrality

Question 16

Under Statement of Financial Accounting Concepts No.2,which of the following is an ingredient of the primary quality of relevance?

Accepted Answer

A) Predictive value 
B) Materiality 
C) Understandability 
D) Verifiability 
A) Predictive value 
B) Materiality 
C) Understandability 
D) Verifiability

Question 17

Discuss the contribution DR Scott to the development of accounting theory.

Accepted Answer

During this early period,significant con

Question 18

How did ASOBAT define accounting and what two new ideas arose from this monograph?

Accepted Answer

A Statement of Basic Accounting Theory A

Question 19

Discuss the contributions of Paton and Canning to the development of accounting theory.

Accepted Answer

The first attempts to develop accounting

Question 20

Under Statement of Financial Accounting Concepts No.2,the ability through consensus of measures to ensure that information represents what it purports to represent is an example of the concept of

Accepted Answer

A) Relevance 
B) Verifiability 
C) Representational faithfulness 
D) Feedback value 
A) Relevance 
B) Verifiability 
C) Representational faithfulness 
D) Feedback value

Which of the following hierarchy of qualities did Statement of Financial Accounting Concepts No.2 indicate as being most important?

Under Statement of Financial Accounting Concepts No.2,which of the following interacts with both relevance and reliability to contribute to the usefulness of information?

An item is considered material if

Which of the following is not a qualitative characteristic associated with reliability?

Which of the following organizations published the monograph titled A Statement of Accounting Principles?

Discuss how the FASB and the IASC acted to improve comparability under the Norwalk Agreement.

Which of the following economists most influenced the views of DR Scott?

Who was the author of Accounting Research Study No.1,The Basic Postulates of Accounting?

Discuss accounting Research Study No.1.

What two approaches to present value were discussed in SFAS No.7?

Discuss the issue of principles based vs.rule based accounting standards.

Under Statement of Financial Accounting Concepts No.2,which of the following is an ingredient of the primary quality of reliability?

What were the approaches to accounting theory identified by SATTA?

Which of the following is not an approaches to accounting theory AS categorized by Statement on Accounting Theory and Theory Acceptance?

Under Statement of Financial Accounting Concepts No.2,which of the following relates to both relevance and reliability?

Under Statement of Financial Accounting Concepts No.2,which of the following is an ingredient of the primary quality of relevance?

Discuss the contribution DR Scott to the development of accounting theory.

How did ASOBAT define accounting and what two new ideas arose from this monograph?

Discuss the contributions of Paton and Canning to the development of accounting theory.

Under Statement of Financial Accounting Concepts No.2,the ability through consensus of measures to ensure that information represents what it purports to represent is an example of the concept of

The Development of Accounting Theory

International Accounting

Research Methodology and Theories on the Uses of Accounting Information

Income Concepts,revenue Recognition and Matching

Financial Statement I: the Income Statement

Financial Statements Ii: the Balance Sheet and the Statement of Cash Flows

Working Capital

Long-Term Assets I: Property,plant,and Equipment

Long-Term Assets Ii: Investments and Intangibles

Long-Term Liabilities

Accounting for Income Taxes

Leases

Pensions and Other Postretirement Benefits

Equity

Accounting for Multiple Entities

Financial Reporting Disclosure Requirements and Ethical Responsibilities

Filters

Exam 2: The Pursuit of the Conceptual Framework

Which of the following hierarchy of qualities did Statement of Financial Accounting Concepts No.2 indicate as being most important?

Under Statement of Financial Accounting Concepts No.2,which of the following interacts with both relevance and reliability to contribute to the usefulness of information?

An item is considered material if

Which of the following is not a qualitative characteristic associated with reliability?

Which of the following organizations published the monograph titled A Statement of Accounting Principles?

Discuss how the FASB and the IASC acted to improve comparability under the Norwalk Agreement.

Which of the following economists most influenced the views of DR Scott?

Who was the author of Accounting Research Study No.1,The Basic Postulates of Accounting?

Discuss accounting Research Study No.1.

What two approaches to present value were discussed in SFAS No.7?

Discuss the issue of principles based vs.rule based accounting standards.

Under Statement of Financial Accounting Concepts No.2,which of the following is an ingredient of the primary quality of reliability?

What were the approaches to accounting theory identified by SATTA?

Which of the following is not an approaches to accounting theory AS categorized by Statement on Accounting Theory and Theory Acceptance?

Under Statement of Financial Accounting Concepts No.2,which of the following relates to both relevance and reliability?

Under Statement of Financial Accounting Concepts No.2,which of the following is an ingredient of the primary quality of relevance?

Discuss the contribution DR Scott to the development of accounting theory.

How did ASOBAT define accounting and what two new ideas arose from this monograph?

Discuss the contributions of Paton and Canning to the development of accounting theory.

Under Statement of Financial Accounting Concepts No.2,the ability through consensus of measures to ensure that information represents what it purports to represent is an example of the concept of

The Development of Accounting Theory

International Accounting

Research Methodology and Theories on the Uses of Accounting Information

Income Concepts,revenue Recognition and Matching

Financial Statement I: the Income Statement

Financial Statements Ii: the Balance Sheet and the Statement of Cash Flows

Working Capital

Long-Term Assets I: Property,plant,and Equipment

Long-Term Assets Ii: Investments and Intangibles

Long-Term Liabilities

Accounting for Income Taxes

Leases

Pensions and Other Postretirement Benefits

Equity

Accounting for Multiple Entities

Financial Reporting Disclosure Requirements and Ethical Responsibilities

Filters