Accounting 1 Flashcards
1
Q
Accounting Entity
A
2
Q
Going Concern
A
3
Q
Measurement
A
4
Q
Periodicity
A
5
Q
4 Underlying assumptions in accounting
A
- Accounting Entity
- Going Concern
- Measurement
- Periodicity
6
Q
4 Underlying Principle of Accounting
A
- Historical Cost
- Accrual Accounting: Revenue Recognition
- Accrual Accounting: Matching Principle
- Full Disclosure
7
Q
Historical Cost
A
8
Q
Accrual Accounting: Revenue Recognition
A
9
Q
Accrual Accounting: Matching Principle
A
10
Q
Full Disclosure
A
11
Q
4 Underlying Accounting Constraints
A
- Estimates & Judgements
- Materiality
- Consistency
- Conservatism
12
Q
Estimates & Judgements
A
13
Q
Materiality
A
14
Q
Consistency
A
15
Q
Conservatism
A
