Accounting 311 ch1-3fall 05-2

Accounting 311 ch1-3fall 05-2 - Accounting 311 Test:...

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Accounting 311 Test: Chapters 1 - 3 Fall 2005 A. Smith Name_____________________________ Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase. 2 points each Terms : A. Accounting Principles Board B. AICPA C. Conservatism D. Financial Accounting Standards Board E. Full-disclosure principle F. Historical cost principle G. Matching principle H. Materiality I. Realization principle J. Securities and Exchange Commission Phrases: 1. ____Basis of measurement for fixed assets. 2. ____Recognition of revenue only after certain criteria are satisfied. 3. ____Guide to expense recognition. 4. ____Reporting of all information that could affect decisions. 5. ____Application of GAAP sometimes avoided under this constraint.
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Acct 311 Chapts 1 - 3 Listed below are ten terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase. 2 points each Terms : A. Assets B. Comprehensive income C. Distributions to owners D. Equity E. Expenses F. Gains G. Investments by owners H. Liabilities I. Losses J. Revenues Phrases:
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This note was uploaded on 03/14/2010 for the course ACC 311 taught by Professor Smith during the Spring '10 term at Malone University.

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Accounting 311 ch1-3fall 05-2 - Accounting 311 Test:...

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