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1.
By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.
2.
"Anticipate possible losses and omit potential profits", this results in:
3.
_________ assumes the business will go on indefinitely in the future.
4.
The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:
5.
Accounting records are designed to be kept on subjective rather than objective evidence.
6.
Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owing, operating and selling it?
7.
Which of the following factors is NOT included in most financial statement schemes?
8.
How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
9.
_________ revenues involve the recording sales of goods or services hat did not occur.
10.
Revenue is recognized when it is: