Quiz1 - ViewResults SelfTestCh02 Name:AlonaYavorski

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View Results   Self Test Ch02 Name:   Alona Yavorski Attempt:   1 / Unlimited Out of:   15 Started:   January 26, 2009 1:42pm Finished:   January 26, 2009 2:09pm Time spent:   27 min. 8 sec. Question 1    (1 point) All of the following statements about the conceptual framework are correct except it  Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. Is a coherent system of  interrelated objectives and  fundamentals that can lead to  consistent standards. 0.0% b. Prescribes the nature,  function, and limits of financial  accounting and financial  statements. 0.0% c. Increases financial statement  users' understanding of and  confidence in financial  reporting. 100.0% d. All of these options are  correct. General feedback: A conceptual framework includes all of the options listed. Score: 0 / 1   Question 2    (1 point) The first level of the conceptual framework is the  Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. Elements of financial  statements. 100.0% b. Objectives of financial  reporting. 0.0% c. Qualitative characteristics of  accounting information. 0.0% d. Recognition and  measurement concepts.
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General feedback: Objectives of financial reporting are the first level of the conceptual framework. Score: 1 / 1   Question 3    (1 point) The objectives of financial reporting include all of the following except to provide information that is  Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. Useful to those making  investment and credit  decisions. 0.0% b. Helpful to present and  potential investors, creditors,  and other users. 100.0%
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This note was uploaded on 06/03/2010 for the course ACC 51 taught by Professor Botsford during the Spring '08 term at DeAnza College.

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Quiz1 - ViewResults SelfTestCh02 Name:AlonaYavorski

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