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Score
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15
×
What's standard? Accounts should be produced using the same principles from one year to the next year
The consistency principle
The going concern principle
The prudence principle
The matching principle
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×
seesaw
Swap points!
Oops!
×
gold
Win 50 points!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
banana
Go to last place!
Oops!
×
boom
Lose 50 points!
Oops!
×
seesaw
Swap points!
Okay!
×
gift
Win 20 points!
Okay!
×
banana
Go to last place!
Oops!
15
×
The way that most people do something.
Accepted practice
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15
×
A firm that sells its share to anyone who wants to buy them.
Publicly-traded company
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15
×
What's standard? When preparing accounts, one must assume that the company will still be viable in the years to come
The consistency principle
The prudence principle
The matching principle
The going concern principle
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15
×
For example, Australia, the U.K, the U.S.A
English-speaking country
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×
seesaw
Swap points!
Oops!
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magnet
Take 20 points!
Okay!
×
gift
Win 20 points!
Okay!
×
thief
Give points!
5
10
15
20
25
15
×
People or groups who are not involved with the company
Outside parties
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15
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IAS
International Accounting Standards
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15
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IASC
International Accounting Standards Committee
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15
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GAAP
Generally Accepted Accounting Principle
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15
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What's standard? recognizing expenses immediately, and not recognizing income until it is reasonably certain
The going concern principle
The prudence principle
The consistency principle
The matching principle
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15
×
What's standard? Items are recorded when the income and expense arises, not depend on movement of cash.
The consistency principle
The going concern principle
The matching principle
The prudence principle
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15
×
IFRS
International Financial Reporting Standards
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15
×
The rules and regulations which state how accountants operate in a particular place.
Local accounting standards
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