To determine how much debt a firm
should pay off
Question 10. Question :
The principle that (1) requires
revenue to be recognized at the time it is earned, (2) allows the
inflow of assets associated with revenue to be in a form other
than cash and (3) measures the amount of revenue as the cash
plus the cash equivalent value of any non-cash assets received
from customers in exchange for goods or services is called the:
Going-concern principle
Cost principle
Revenue recognition principle
Objectivity principle
Business entity principle
Question 11. Question :
a company are called:
Creditors' claims on the assets of
Net losses
Expenses
Revenues