中山大学：《基础会计学习题》lesson11-selftest

Task Team of FUNDAMENTAL ACCOUNTING School of Business. Sun Y at-sen University Lesson 11 Understanding Accounting standards Self-Test True and False Questions I. Accounting standards are laws accountants should follow in their work 2. The scandals, such as Enron and the Yinguangxia, happened because the accounting andards can not adapted to the economic environments changes 3. The quality of accounting information will be secured given a set of perfect accounting standards 4. Accounting standards are called generally accepted accounting principles because they are agreed upon by all the users 5. Accounting standards must be followed in all situations and by all firms 6. The accounting principle system in China only includes the Enterprise Accounting Standards issued by the Ministry of Finance. Others, such as Accounting Laws, don't belong to the accounting principle system 7. Since 2001, accounting standards in China adopt historical cost concept instead of fair value concept. This indicates that historical cost concept is superior to fair value concept 8. Conservatism principle requires that revenues are recognized as less as possible, but expenses as much as possible 9. Normative scholars believe that accounting theory can sh 10. Empirical scholars believe that accounting theory is only the summary of and therefore has no impact on accounting practice

Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 11 Understanding Accounting Standards Self-Test True and False Questions 1. Accounting standards are laws accountants should follow in their work. 2．The scandals, such as Enron and the Yinguangxia, happened because the accounting standards can not adapted to the economic environments changes. 3．The quality of accounting information will be secured given a set of perfect accounting standards。 4．Accounting standards are called generally accepted accounting principles because they are agreed upon by all the users. 5．Accounting standards must be followed in all situations and by all firms. 6．The accounting principle system in China only includes the Enterprise Accounting Standards issued by the Ministry of Finance. Others, such as Accounting Laws, don’t belong to the accounting principle system. 7．Since 2001, accounting standards in China adopt historical cost concept instead of fair value concept. This indicates that historical cost concept is superior to fair value concept. 8．Conservatism principle requires that revenues are recognized as less as possible, but expenses as much as possible. 9．Normative scholars believe that accounting theory can shape accounting practice. 10．Empirical scholars believe that accounting theory is only the summary of and therefore has no impact on accounting practice