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[DOC File]Concepts and Principles of Accounting
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Chapter 2Basic accounting concepts class DISCUSSION QUESTIONS 1.The basic elements of a financial accounting system include (1) a set of rules for determining what, when, and the amount that should be recorded; (2) a framework for preparing financial statements; and (3) one or more controls to determine whether errors may have occurred in the ...
concepts of accounting

[DOCX File]Accounting 2010 syllabus
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Jan 10, 2008 · BASIC CONCEPTS .03–.20. ACCOUNTING ENTITY .03. A fundamental accounting concept is that of the accounting entity or unit. For accounting purposes, the hospital is presumed to be an entity capable of buying, selling and taking other economic actions which are to be accounted for separately from the personal affairs of those responsible for the ...
basic accounting principles and concepts

Popular Concepts of Accounting (10 Concepts)
ACCOUNTING CONCEPTS. 1. Which of the following statements is/are true? ... The basic assumption or premises on which accounting principles rest are called. a. accounting postulates c. accounting principles. b. accounting procedures d. accounting laws. 10. The normative attitudes or ideas of the accounting profession as to what ought to ...
10 basic accounting principles

[DOC File]THEORY OF ACCOUNTS
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14. Accounting for international sales. The test writer for the contest surveyed the state adopted texts and obtained input from a cross-section of high school accounting teachers in Texas. From this effort a list of concepts was compiled and the test writer determined concepts to be …
accounting basics pdf

[DOC File]TABLE OF CONTENTS
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Chapter 5 10. Chapter 6 12. Chapter 7 14. Chapter 8 16. Chapter 9 18. Chapter 1. Question Number Answer Level 1 Head Reference for Answer Difficulty 1 C. What is an Information System? M 2 D What are Data, Information and Knowledge E 3 E What are Data, Information and Knowledge M 4 C What are Data, Information and Knowledge – What is Ethics E ...
12 accounting concepts

[DOC File]Chapter 2--Basic Management Accounting Concepts
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The basic accounting concept that refers to the tendency of accountants to resolve uncertainty in favor of understating assets and revenues and overstating liabilities and expenses is known as the a. conservatism constraint.
financial accounting concepts and principles

[DOC File]LaVerne Funderburk, CPA
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With these developments came an awareness of the need for a framework of concepts and generally accepted accounting principles to serve as guidelines for the preparation of the basic financial statements. Accounting principles have been developed by individuals to help make accounting data more useful in an ever-changing society.
10 principles of accounting

[DOC File]accountingreviewmaterials « Be a CPA with or without a ...
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CS1 and CS2 provide students with a common starting point and are important in establishing the fundamental accounting concepts and skills necessary for the areas of study that follow. The concepts and skills to be acquired are integral to the development of student understanding and will be built upon throughout the course of study.
10 basic accounting concepts pdf

[DOCX File]Renaissance College of Commerce & Management
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Basic Managerial Accounting Concepts. This chapter introduces basic terminology that is used throughout the text. Accounting is sometimes called the language of business and learning accounting terminology is similar to learning a foreign language. Understanding the accounting terminology presented in Chapter 2 is crucial to students ...
concepts of accounting

[DOCX File]Chapter 2: Basic Accounting Concepts
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Basic Accounting. Note: Attempt any All Question . Q.1 Write short Note on any (Three) Capital Expenditure and Revenue Exp. Types of Errors in accounting . Process of Accounting . Why Depreciation to be charged . Q.2Discuss any 5 Accounting Concepts or Principles. Q.3 What is Double Entry System in financial Accounting Discuss the Accounting cycle.
basic accounting principles and concepts

10 basic accounting concepts