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Exam (elaborations)

ACCT 212 Financial Accounting WEEK 1 QUIZ

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1. TheItermIGAAPIstandsIfor: - GenerallyIAcceptedIAccountingIPrinciples 2. FinancialIaccountingIservesIwhichIprimaryIfunction(s)? I. MeasuresIbusinessIactivities. II. CommunicatesIbusinessIactivitiesItoIinterestedIparties. III. MakesIbusinessIdecisionsIonIbehalfIofIinterestedIparties. - I.IandIII. 3. WhichIofItheIfollowingIrepresentsIanIobligationIofItheIcompany? - Liabilities 4. WhichIbodyIhasItheIprimaryIresponsibilityIforItheIestablishmentIofIGenerallyIAcceptedIAccountingIPrinciples? - FinancialIAccountingIStandardsIBoardI(FASB)

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ACCT212
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Uploaded on
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Number of pages
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2020/2021
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  • 1 theitermigaapistandsifor generallyiacceptediaccountingiprinciples 2 financialiaccountingiservesiwhichiprimaryifunctions i measuresibusinessiactivities ii communicatesibusinessiactivitiesi
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