Financial Accounting Question Paper FA No 3: Test on Accounting Concept & Regulatory Framework
September 5th, 2006
/
|
FA Test Paper FA No 3 |
||
|
Test On Accounting Concept & Regulatory Framework |
||
|
IDENTIFICATION OF BASIC ACCOUNTING |
||
|
(1) |
? |
Mr X, the sole proprietor of Company XY does not list his personal house on the balance sheet of Company XY |
|
(2) |
? |
Company A included a disclosure note describing a lawsuit it is defending even though the suit has not yet been settled |
|
(3) |
? |
Company B records revenue when products are delivered and services being rendered, even though cash has not yet been received. |
|
(4) |
? |
Company A amortizes the cost of a trade mark over the trade mark’s useful life. |
|
(5) |
? |
Company X depreciates the cost of its equipment rather than the replacement value of the equipment. |
|
Refer to Answer to FA No 3. |
||
Related Posts
- Content Page On Basic Accounting Concepts and Regulatory Framework
- Financial Accounting Test Question Bank On Accounting Concepts & Regulatory Framework
- Answer To Financial Accounting Question Paper FA No 3: Test on Accounting Concept & Regulatory Framework
- Question To Financial Accounting Question Paper FA No 4: Test on Accounting Concept & Regulatory Framework
- Money Measurement Concept
[...] Financial Accounting Test FA No.3 on Accounting Concepts/Regulatory Framework [...]