Accounting Principles Multiple Choice Questions

1. The accounting principle that states companies and owners should be account for separately.

2. Companies not disclosing an immanent bankruptcy would violate the:

3. The assumption that states that businesses can divide up their activities into artificial time periods.

4. Assets are recorded at their original purchase price according to the:

5. Management concealing important financial information violates the:

6. When estimating unearned revenues, what principle applies?

7. What is not a value of accounting relevance?

8. What is not a value of accounting reliability?

9. Switching accounting principles every year would violate the:

10. Recording expenses and revenues in the same period in which they occur.