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1291177
ACC341 - Topic 4
Description
Quiz on ACC341 - Topic 4, created by mentor on 15/09/2014.
Quiz by
mentor
, updated more than 1 year ago
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Created by
mentor
over 9 years ago
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Resource summary
Question 1
Question
The ranking of items in a balance sheet by liquidity is an example of what type of scale?
Answer
Ordinal
Nominal
Interval
Ratio
Question 2
Question
What is the key advantage a ratio scale has over an interval scale?
Answer
Equal units
Equal gaps between units
A neutral zero point
Rank order
Question 3
Question
Which of the following is a characteristic of fiat measurement:
Answer
Consistency
Arbitrary definitions
Accuracy
Reliability
Question 4
Question
Accounting is best described as a form of:
Answer
Fundamental measurement
Derived measurement
Ratio measurement
Fiat Measurement
Question 5
Question
Reliability in measurement is best exhibited by which of the following accounting methods:
Answer
Continuously Contemporary Accounting
Historical Cost Accounting
Fair values
Present values
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