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Secure https://www.mathxl.com/Student/Playerfest.aspxtestl nvellum.eco ACC 101-A01N (Backman) Summer 2018 Test: Test 1- Chapters 1 and 2 untin This Question: 2 pts 19 Definiti Match the accounting terminology to the definitions. 1 (Click the icon to view the definitions.) Begin with the accounting terms numbered 7 through 11, 7. Cost principle 8. GAAP 9. Faithful representation 10. SEC 11. FASB 12. Monetary unit assumption 13. Economic entity assumption 14. Going concern assumption 15. IASB a. oversee b. requires c. oversee d. states t e. creates f. the main g. assume h. assumes i. requires rary urces y Modules on Tools Choose from any drop-down list and then continue to the next question.

Explanation / Answer

Answer : 7. cost principle -----------------------(d)

8. GAAP ---------------------------------(f)

9. Faithfull repesentation -----------( i)

10. SEC----------------------------------- (c)

11. FASB ---------------------------------(a)

12. Monetory unit assumption ---------(h)

13. Economic unit assumption ---------(b)

14. Going concern assumption ------ (g)

15. IASB -------------------------------------(e)

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