Assignment3 - INTERMEDIATE ACCOUNTING Assignment#3(CH2 Due date(Tuesday Student name Student ID Please write your answer in each blank 1 6 11 1 2 7

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INTERMEDIATE ACCOUNTING Assignment #3 (CH2) Due date: Oct 13, 2008 (Tuesday) Student name: ___________ Student ID: ___________ Please write your answer in each blank 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 1. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users' understanding of and confidence in financial reporting. b. enhance comparability among companies' financial statements. c. allow new and emerging practical problems to be more quickly soluble. d. all of these. 2. The quality of information that gives assurance that it is reasonably free of error and bias and is a faithful representation is a. relevance. b. reliability. c. verifiability. d. neutrality. 3. According to Statement of Financial Accounting Concepts No. 2, which of the following relates to both relevance and reliability? a. Materiality b. Understandability c. Usefulness d. All of these 4. According to Statement of Financial Accounting Concepts No. 2, predictive value is an ingredient of the primary quality of
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This note was uploaded on 03/29/2010 for the course FINANCE 0011100110 taught by Professor Shentingchun during the Spring '10 term at Nashville State Community College.

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Assignment3 - INTERMEDIATE ACCOUNTING Assignment#3(CH2 Due date(Tuesday Student name Student ID Please write your answer in each blank 1 6 11 1 2 7

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