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Financial Accounting Homework

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SPA Mentoring Akuntansi Keuangan 1

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SPAMentoring UTS Akuntansi Keuangan 1 Problem 1-­‐Conceptual Framework State the accounting assumption, qualitative characteristic, or element that is most applicable in the following cases. 1. Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. 2. Quality of information that confirms users’ earlier expectations. 3. Imperative for providing comparisons of a company from period to period. 4. Ignores the economic consequences of a standard or rule. 5. Requires a high degree of consensus among individuals on a given measurement. 6. Predictive value is an ingredient of this fundamental quality of information. 7. Obligation to transfer resources arising from a past transaction. 8. Increases ownership interest. 9. Declares and pays cash dividends to owners. 10. Increases in net assets in a period from non-­‐owner sources. 11. Items characterized by service potential or future economic benefit. 12. Equals increase in assets less liabilities during the year, after adding distributions to owners and

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