Various Terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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show | Information is useful in predicting the future.
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Relevance | show 🗑
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show | Information is available prior to the decision.
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Distribution to owners | show 🗑
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show | Implies consensus among different measurers.
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Understandability | show 🗑
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show | Results if an asset is sold for more than its book value.
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Faithful representation | show 🗑
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Comprehensive Income | show 🗑
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Materiality | show 🗑
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Comparability | show 🗑
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show | The absence of bias.
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show | The process of admitting information into financial statements.
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show | Applying the same accounting practices over time.
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Cost effectiveness | show 🗑
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Verifiability | show 🗑
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show | probably future economic benefits obtanied or controlled by an entity
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show | probably future sacrifices of economic benefits arising from present obligations to transfer assets or future services.
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equity | show 🗑
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investments by owners | show 🗑
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show | decreases in equity of a particular enterprise resulting from transfers to owners
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comprehensive income | show 🗑
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show | inflows of assets or settlemnts of liabilties during a period from delivering goods in central operations
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show | ouflows or other using up of assets or incurrences of liabilites
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gains | show 🗑
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losses | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
jsmeltz2