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Unformatted text preview: ACCT 303 MT1 (ch1-4) - Hints 1. Financial information that is provided to decision makers before it loses its capacity to influence their decisions is 2. Financial information that does not favor one set of interested parties over another is 3. When independent measurers get similar results when using the same accounting measurement methods, the financial information is 4. The Securities and Exchange Act of 1934 required all publicly traded firms to 5. Income recognition always increases 6. To recognize revenue upon completion of production, the product must be immediately saleable at quoted market prices, no significant uncertainty exists regarding cost of distributing the product, and 7. The matching principle requires that expenses be recognized 8. The best measure of a firm's sustainable income is 9. To be reported as an extraordinary item on the income statement, an event must be 10. When using the retrospective approach for a change in accounting principle, disclosure rules require that 10....
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This note was uploaded on 09/30/2011 for the course ACCT 303 taught by Professor Staff during the Spring '11 term at S.F. State.
- Spring '11