11. Which of the following is the GAAP that requires the recording of depreciation?

Correct! Wrong!

12. Which of the following is true?

Correct! Wrong!

13. The most acceptable method of measuring income is?

Correct! Wrong!

14. Assets Reported in the Balance Sheet is at?

Correct! Wrong!

15. The revenue recognition principle requires that sales revenues be recognized?

Correct! Wrong!

16. Which of the following is the GAAP that requires the recording of depreciation?

Correct! Wrong!

17. How are tangible assets, which were created or developed internally, valued?

Correct! Wrong!

18. The requirement that only transaction data capable of being expressed in terms of money is included in the accounting records relates to the?

Correct! Wrong!

19. A record maintained which is measurable in the form of money, this concept of accounting is known as?

Correct! Wrong!

20. The charging of depreciation expense over the life of an asset rather than the immediate full expensing of its cost is an example of?

Correct! Wrong!