NCEA Flashcards
1
Q
What are the financial elements for NCEA accounting purposes?
A
- assets
- liabilities
- income
- expense
- equity
2
Q
For NCEA accounting purposes, what are these? • assets • liabilities • income • expense • equity
A
Financial elements
3
Q
What are the concepts applied in NCEA Accounting Level 1?
A
- capital and revenue expenditure
- depreciation
- accounting entity
- monetary measurement
- going concern
- period reporting
- accrual basis
- historical cost.
4
Q
What is the acronym describing the concepts introduced in NCEA Accounting Level 1?
A
CDAMGPAH
5
Q
What are these? • capital and revenue expenditure • depreciation • accounting entity • monetary measurement • going concern • period reporting • accrual basis • historical cost.
A
Accounting Concepts applied in NCEA Accounting level 1
