Accounting - Practice Test

(A) Convention of conservatism

(B) Convention of consistency

(C) Convention of materiality

(D) Convention of full disclosure

(A) Convention of conservatism

(A) Prompt payment of cash

(B) Purchasing products in bulk quantity

(C) Payment of cash within 30 days time period

(D) Opening of several units in different markets for business expansion

(B) Purchasing products in bulk quantity

(A) Payment of dividend to Members

(B) Issue of bonus shares to members

(C) Writing off pre-liminary expenses of company

(D) Writing off discount on issue of debenture

(A) Payment of dividend to Members

(A) Accrued

(B) Prepaid expense

(C) Outstanding expense

(D) Capital expense

(B) Prepaid expense

(A) $$frac{{{ ext{EBIT}}}}{{{ ext{EAT}}}}$$

(B) $$frac{{{ ext{EBIT}}}}{{{ ext{EBT}}}}$$

(C) $$frac{{{ ext{EAIT}}}}{{{ ext{EBT}}}}$$

(D) $$frac{{ ext{C}}}{{{ ext{EBIT}}}}$$

(B) $$frac{{{ ext{EBIT}}}}{{{ ext{EBT}}}}$$

Accounting - Study Mode