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Accounting Principle Week2 - Solutions
Accounting Principle Week2 - Solutions
TCC1;2; TACB1;2; TIN ĐẠI CƯƠNG; KTCT; các môn năm 3; năm 4; F3; F5; F6; F7; F8; F9 ACCA; Accounting
CFAB v.v) tại page D Ôn Thi HVTC hoặc sms: 0965 084 577.
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1. A fixed asset costing $30,000 is depreciated over its estimated useful life of 15
CONCEPT
3. Obligations (amounts owed) are reported on the balance sheet and are referred to
as __LIABILITY
4. Which of the following characteristics does not describe an asset? Requires the
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Page | 2 6. When the accountant has to choose between two acceptable alternatives, the
accountant should select the alternative that will report less profit, less asset amount,
PRUDENCE
9. If you are informed that your last insurance bill was overstated and that you will
10. If you receive notification from the bank that you have been charged bank fees, is
11. The personal assets of the owner of a company will not appear on the company's
CONCEPT
12. The accountant only records the asset which the company owns? True/ False?
13. The begin of the accounting process is? THE SOURCE DOCUMENT
14. Which does Financial statement show “Asset, Lia, Owner’s Equity”? BALANCE
SHEET
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15. Which does Financial statement show the financial position of company?
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