Multiple Choice
The practice that is not based on the proprietary theory is:
A) Considering dividends as distributions of profit
B) Not considering the salaries of partners in a partnership as expenses
C) The capital maintenance principle of maintaining the physical level of operations before recognising a profit
D) The equity method of accounting for long-term investments
Correct Answer:
Verified
Correct Answer:
Verified
Q2: A present obligation that will transfer assets
Q3: The usual measurement basis allowed by the
Q4: 'Since pension funds are separate legal entities,it
Q5: Under the entity theory the assets belong
Q6: Contingent liabilities do not meet the criteria
Q8: The IASB has decided not to treat
Q9: Under the proprietorship theory of accounting the
Q10: Which of these is a right of
Q11: Are preference shares debt or equity and
Q12: Generally speaking accountants are more likely to