ACCT 251 Quiz 1 - ACCT 251 Intermediate Accounting I...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ACCT 251 Intermediate Accounting I Chapter 1 Quiz Name__________________________ 1. Financial statements in the early 2000s provide information related to a. nonfinancial measurements. b. forward-looking data. c. hard assets (inventory and plant assets). d. none of these. 2. Accrual accounting is used because a. cash flows are considered less important. b. it provides a better indication of ability to generate cash flows than the cash basis. c. it recognizes revenues when cash is received and expenses when cash is paid. d. none of the above. 3. Which of the following organizations has been responsible for setting U.S. accounting standards? a. Accounting Principles Board. b. Committee on Accounting Procedure. c. Financial Accounting Standards Board....
View Full Document

This note was uploaded on 11/04/2009 for the course ACCTG 411 taught by Professor Gillick during the Spring '09 term at University of Washington.

Page1 / 2

ACCT 251 Quiz 1 - ACCT 251 Intermediate Accounting I...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online