Business entity
Materiality
Dual aspect
Realization
Correct answer is B
The materiality principle states that an accounting standard can be ignored if the net impact of doing so has such a small impact on the financial statements that a reader of the financial statements would not be misled.
An example of input devices of a computer is
An optical character reader
A graph plotter
A visual display unit
A printer
Correct answer is A
Example of input devices are
The primary classification of government expenditure is based on
Programs
Fund
Activity
Project
Correct answer is B
No explanation has been provided for this answer.
When the purchase consideration exceeds the value of business, the difference is
Profit
Discount
Goodwill
Reserve
Correct answer is C
Goodwill is an intangible asset associated with the purchase of one company by another. It is a company's value that exceeds its assets minus its liabilities.
The accounting ratio used to measure the average number of days for which suppliers remain unpaid is
Stock turnover
Creditor's payment period
Debtors collection period
Return on capital employed
Correct answer is B
The Creditor (or payables) days number is a similar ratio to debtor days and it gives an insight into whether a business is taking full advantage of trade credit available to it. Creditor days estimates the average time it takes a business to settle its debts with trade suppliers.