ACC341 - Topic 3

Question 1 of 5

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Sombarts thesis in an example of which perspective of history?

Select one of the following:

  • Socially constructed

  • Socially constructing

  • Traditional

  • Professional

Question 2 of 5

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The perspective that accounting has developed to meet the needs of society is best described as:

Select one of the following:

  • Socially constructed

  • Traditional

  • Professional

  • Socially constructing

Question 3 of 5

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The industrial revolution was most closely associated with the development of which form of accounting?

Select one of the following:

  • Financial Accounting

  • Historical Cost

  • Management Accounting

  • Auditing

Question 4 of 5

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Which of the following statements is true about the regulation of accounting practice in its early period of development?

Select one of the following:

  • Accounting was largely determined by accounting theory.

  • Accounting was largely determined by accounting standards issued by the accounting profession.

  • Accounting was largely determined by the national Securities and Exchange Commissions and resulting legislation.

  • Accounting was largely determined by generally accepted practice.

Question 5 of 5

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Which of the following statements is true about early codification of accounting rules?

Select one of the following:

  • In the early part of the twentieth century, limited work was undertaken to codify particular accounting principles or rules.

  • Accountants used rules of which they were aware, and which they believed were most appropriate to the particular circumstances.

  • There was very limited uniformity between the accounting methods adopted by different organisations, thereby creating comparability problems.

  • All of the given options are correct.

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ACC341 - Topic 3

mentor
Quiz by , created about 2 years ago

Quiz on ACC341 - Topic 3, created by mentor on 12/09/2014.

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Created by mentor about 2 years ago
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