What is a mixed attribute measurement model? Why is it used in accounting?

Q: Explain what is meant by: The benefits of accounting information must exceed the costs.

A:

Q: Definiton of accounting

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing, and…

Q: What is tally accounting?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Why is accounting a service activity and also a process or system?

A: Accounting is adopted by every business irrespective of its nature.

Q: Why accounting information is important?

A: The accounting is a process to identify the business transactions, record the transactions, and…

Q: what are the charatristics of accounting

A: The answer is as fallows

Q: Evaluate the strengths and weaknesses of interpretive accounting theory

A: Interpretive Accounting theory:-Interpretive Accounting theory has evolved and made significant…

Q: Which of the following is not a component of an accounting system?   the input source documents…

A: The Components of an accounting system is : The Input source documents The output reports.

Q: ation differ

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Accounting information is used by various users for different purposes. The primary characteristics…

Q: Explain the impact of using indirect material on accounting equation.

A: Indirect materials are materials used in the production process, but which cannot be linked to a…

Q: What is accounting base on

A: The term that is related to the recording of the business transactions, summarizing the data, and…

Q: What is the best accounting method?

A: Accounting Method: The accounting method is the method used for maintaining the books of accounts of…

Q: What can be understood from the term Accounting diversity?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What two different accounting equalities must be maintained in transaction analysis?

A: In transaction analysis, accounting equalities are:  Assets = Laibilities + Shareholders Equity…

Q: What is the matching principle of accounting?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: What is the origin of the term "double accounting systems" for certain types of accounting?

A: This subject discusses the origins of the phrase "double accounting systems" for specific forms of…

Q: this multiple choice questions from ACCOUNTING PRINCIPLES I

A: Question 13 option D is correct  income statement  Depreciation appears on income statement.

Q: What are the outputs of the accounting cycle, why are they important and how are they interrelated?

A: Outputs of the accounting cycle-First of all, we need to understand what is an accounting cycle.  An…

Q: Why is it necessary to develop a definitional frameworkfor the basic elements of accounting?

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: hat are the relationship between framing effect and mental accounting?

A: Mental Accounting: Mental accounting refers to the various values an individual places on the same…

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Secondary Qualitative Characteristics of accounting information is how useful the information is.…

Q: What are different types of accounting information?

A: Introduction: Accounting: Accounting is an art of recording, classifying , summarizing and…

Q: (B) Why do you think standard setters have considered a single measurement base approach? In your…

A: The conceptual framework is an attempt by standard regulation authorities to define nature and a…

Q: are the two fundamental qualities that make accounting information useful for decision making. a.…

A: solution concept Relevance means the information that are relevant for the users of the financial…

Q: Discuss the assumptions underlying accounting measurement and explain their significance.

A: Accounting can be defined as the process of measuring the monetary business transaction for the…

Q: Accounting is sometimes described as the language of busi-ness. What is meant by this description?

A: Accounting: It refers to a process of recording and summarizing the financial transactions and…

Q: What are the two of the qualitative characteristics of accounting information that contribute to its…

A:

Q: What are the different objectives of accounting?

A: Accounting: An organization's financial transactions are recorded through accounting. Reporting…

Q: Why does accounting rely on inexact or approximate measures?

A:

Q: What exactly do you mean by the idea of materiality in accounting?

A: This question explains about the idea of materiality in accounting

Q: What are the roles of transaction in accounting?

A: The transactions are the business events that can be measured in monetary form.

Q: Each external transaction will have a dual effect on the accounting equation. Explain what this…

A:

Q: Qualitative characteristics of accounting information - Relevance - Reliability - Comparability…

A: The qualitative characteristics of accounting information is useful for decision and reporting…

Q: Which of the following requires accounting information to be complete, neutral, and free from…

A: Accounting Principles:

Q: Why is accounting described as a service activity?

A: The activities that are carried out with a view to assist the organisation in the delivery and…

Q: Briefly describe the two fundamental qualities of useful accounting information.

A: Accounting information is data about a business entity’s transactions. From buying inventory and…

Q: Is the matching of costs and revenue a basic accounting principle?

A: Accounting Principle: The set rules which defines the way account should be prepared is known…

Q: Explain differential effects on accounting standards.

A: Accounting standards deals with the issues of: Recognition of events and transaction in financial…

Q: So, what exactly is the purpose of an accounting system?

A: solution accounting system                 Accounting system in general refers to the system which…

Q: What is the difference between accounting and auditing?

A: