题目内容

GAAP stands for()

A. Generally Accepted Auditing Procedures
B. Generally Accepted Accounting Principles
C. Generally Accepted Auditing Principles
D. Generally Accepted Accounting Procedures

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The accounting process involves all of the following except()

A. identifying economic transactions that are relevant to the business
B. communicating financial information to users by preparing financial reports
C. recording nonquantifiable economic events
D. analyzing and interpreting financial reports

Sources of increases to equity are()

A. additional investments by owners
B. purchases of merchandise
C. distributions to owners
D. expenses

The cost principle requires that when assets are acquired, they be recorded at()

A. appraisal value
B. exchange price paid
C. selling price
D. list price

Ethics are the standards of conduct by which one’s actions are judged as()

A. right or wrong
B. honest or dishonest
C. fair or unfair
D. all of these

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