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A603_Online_Midcourse_Assessment Gillespie

A603_Online_Midcourse_Assessment Gillespie - Regis...

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Regis University - CPS, SoM A603 - Intermediate Accounting Applications Midcourse Assessment Click on  "File,"  "Page Setup,"  "Header/Footer,"  "Custom Header" and  REPLACE this text  with YOUR NAME   Question 1  C 1 F 2 Earning process completed and realized or realizable J 3 Error-free accounting information that faithfully represents underlying economic reality is presented D 4 Financial statements are prepared annually as of (and for the period ended) December 31 F 5 C 6 Useful standard measuring unit for business transactions and other events A 7 Affairs of the business are distinguished from those of its shareholders/owners M 8 B 9 The business enterprise is assumed to have a long life E 10 Assets are recorded in the balance sheet at amounts originally paid for them K 11 Accounting principles applied are the same as those applied in the preceding year H 12 Significant accounting policies are summarized in financial statement footnotes I 13 Timely information with predictive and feedback value is presented L 14 All payments less than $25 are expensed as incurred. (Do not use "conservatism.") B 15 Provide below the letter corresponding to the single PRIMARY assumption, principle, information characteristic, or constraint (items A through M) that corresponds with each of the 15 statements listed in the Workbook. Some items (A through M) may be an appropriate response to more than one of these statements. Do NOT make any formatting changes to this MS Excel file.
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