University of Illinois, Chicago

ACTG 210

Quiz 2

1)What is not a quality associated with faithful representation?

2. Relevant accounting information
3. In 2017 Grider Corp had cash receipts of $56000 and cash disbursements of $32000. Griders ending cash balance at December 31^st, 2017 was $78000. What was Grider’s Beginning cash balance?
4. Characteristics associated with faithfully representative accounting information are
5. The accounting concepts that indicates assets should be reported at the price received to sell an asset is the
6. On a classified balance sheet, companies usually list current assets
7. A short-term creditor is primarily interested in the          of the borrower
8. Valuing assets at their fair value rather than at their cost is inconsistent with the
9. The going concern assumption assumes that the business
10. An item is considered material if
11. Accounting information should be verifiable in order to enhance
12. Free cash flow is net cash provided by operating activities
13. In order for accounting information to be relevant, it must
14. The quality of consistency enhances
15. The periodcity assumption states