SlideShare una empresa de Scribd logo
1 de 3
Answering Theory Questions
• It is recommended that you adopt the following approach when answering a
theory question:
• Identify: identify the relevant Qualitative Characteristic or Accounting
Principle
• Define: define the Qualitative Characteristic or Accounting Principle you
have identified
• Relate: relate the Qualitative Characteristic or Accounting Principle to the
question or case study you have been given.
Answering Theory Questions
For example, this question could be answered in the following way:
“The owner of a small business has decided to omit cents from figures listed
in the Balance Sheet. Explain whether the owner is correct in doing this.”
Identify Relevance
Define
Relevance states that only information which influences decision-
making should be included in the firm’s financial records.
Relate In this case, the omission of cents is not material enough to effect
any decision the owner makes based on the figures in the Balance
Sheet.
Explain The owner is correct in making this decision due to the concept of.
Relevance. Relevance states that only information which influences decision-
making should be included in the firm’s financial records. In this case, the
omission of cents is not material enough to effect any decision the owner makes
based on the figures in the Balance Sheet.
Answering Theory Questions
For example, this question could be answered in the following way:
“The owner of a small business has decided to omit cents from figures listed
in the Balance Sheet. Explain whether the owner is correct in doing this.”v
Explain The owner is correct in making this decision due to the concept of.
Relevance. Relevance states that only information which influences decision-
making should be included in the firm’s financial records. In this case, the
omission of cents is not material enough to effect any decision the owner makes
based on the figures in the Balance Sheet.
Explain The owner is correct in making this decision due to the concept of.
Relevance. Relevance states that only information which influences decision-
making should be included in the firm’s financial records. In this case, the
omission of cents is not material enough to effect any decision the owner makes
based on the figures in the Balance Sheet.
Explain The owner is correct in making this decision due to the concept of.
Relevance. Relevance states that only information which influences decision-
making should be included in the firm’s financial records. In this case, the
omission of cents is not material enough to effect any decision the owner makes
based on the figures in the Balance Sheet.

Más contenido relacionado

La actualidad más candente

What is cash and accrual accounting
What is cash and accrual accountingWhat is cash and accrual accounting
What is cash and accrual accountingTransweb Global Inc
 
Trial Balance its error and its rectification
Trial Balance its error and its rectificationTrial Balance its error and its rectification
Trial Balance its error and its rectificationDivyank Raj Pathak
 
Unit 3 Debits and Credits
Unit 3 Debits and CreditsUnit 3 Debits and Credits
Unit 3 Debits and CreditsJenny Hubbard
 
Acct120 Class #1 Intro To Accounting, Five Activities Of An Accounting, A...
Acct120   Class #1   Intro To Accounting, Five Activities Of An Accounting, A...Acct120   Class #1   Intro To Accounting, Five Activities Of An Accounting, A...
Acct120 Class #1 Intro To Accounting, Five Activities Of An Accounting, A...Adjem
 
Fundamental of accounting
Fundamental of accountingFundamental of accounting
Fundamental of accountingRahul Kumar
 
Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...
Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...
Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...Elearningpower
 
Finon accrual vs cash basis accounting
Finon accrual vs cash basis accountingFinon accrual vs cash basis accounting
Finon accrual vs cash basis accountingSuhari Pranyoto
 
Trial balance and rectification of errors
Trial balance and rectification of errorsTrial balance and rectification of errors
Trial balance and rectification of errorsItisha Sharma
 
Muhasebe slaytları
Muhasebe slaytlarıMuhasebe slaytları
Muhasebe slaytlarıalper
 

La actualidad más candente (19)

3. gaap
3. gaap3. gaap
3. gaap
 
What is cash and accrual accounting
What is cash and accrual accountingWhat is cash and accrual accounting
What is cash and accrual accounting
 
Week 5
Week 5Week 5
Week 5
 
Basics Of Accounting & Book Keeping
Basics Of Accounting & Book KeepingBasics Of Accounting & Book Keeping
Basics Of Accounting & Book Keeping
 
Trial Balance its error and its rectification
Trial Balance its error and its rectificationTrial Balance its error and its rectification
Trial Balance its error and its rectification
 
Unit 3 Debits and Credits
Unit 3 Debits and CreditsUnit 3 Debits and Credits
Unit 3 Debits and Credits
 
Suspense ac
Suspense acSuspense ac
Suspense ac
 
01 principles
01 principles01 principles
01 principles
 
Acct120 Class #1 Intro To Accounting, Five Activities Of An Accounting, A...
Acct120   Class #1   Intro To Accounting, Five Activities Of An Accounting, A...Acct120   Class #1   Intro To Accounting, Five Activities Of An Accounting, A...
Acct120 Class #1 Intro To Accounting, Five Activities Of An Accounting, A...
 
20100726090715 chapter 3 the asset of stock
20100726090715 chapter 3  the asset of stock20100726090715 chapter 3  the asset of stock
20100726090715 chapter 3 the asset of stock
 
Fundamental of accounting
Fundamental of accountingFundamental of accounting
Fundamental of accounting
 
Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...
Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...
Accounting - Lesson 5 : Transactions That Affect Revenue, Expenses and Withdr...
 
Rectification of errors
Rectification of errorsRectification of errors
Rectification of errors
 
Finon accrual vs cash basis accounting
Finon accrual vs cash basis accountingFinon accrual vs cash basis accounting
Finon accrual vs cash basis accounting
 
20100726090748 chapter 4 the effect of p&l on capital
20100726090748 chapter 4 the effect of p&l on capital20100726090748 chapter 4 the effect of p&l on capital
20100726090748 chapter 4 the effect of p&l on capital
 
Double entry systme
Double entry systmeDouble entry systme
Double entry systme
 
Trial balance and rectification of errors
Trial balance and rectification of errorsTrial balance and rectification of errors
Trial balance and rectification of errors
 
Muhasebe slaytları
Muhasebe slaytlarıMuhasebe slaytları
Muhasebe slaytları
 
Accounting systems
Accounting systemsAccounting systems
Accounting systems
 

Destacado

Apple 2015 Financial Analysis (Full year ended 30 September)
Apple 2015 Financial Analysis (Full year ended 30 September)Apple 2015 Financial Analysis (Full year ended 30 September)
Apple 2015 Financial Analysis (Full year ended 30 September)VCE Accounting - Michael Allison
 
How to Start your Business
How to Start your BusinessHow to Start your Business
How to Start your BusinessAbdalla Ibrahim
 

Destacado (18)

1.3 Reliability
1.3 Reliability1.3 Reliability
1.3 Reliability
 
11.2A Mark-ups, Cost of Sales and Selling Price
11.2A Mark-ups, Cost of Sales and Selling Price11.2A Mark-ups, Cost of Sales and Selling Price
11.2A Mark-ups, Cost of Sales and Selling Price
 
20.9 Creditors and the Cash Cycle
20.9  Creditors and the Cash Cycle20.9  Creditors and the Cash Cycle
20.9 Creditors and the Cash Cycle
 
Task 2A - Balance Sheets (Basic) Solutions
Task 2A - Balance Sheets (Basic) SolutionsTask 2A - Balance Sheets (Basic) Solutions
Task 2A - Balance Sheets (Basic) Solutions
 
1.20 Assets v Expenses
1.20 Assets v Expenses1.20 Assets v Expenses
1.20 Assets v Expenses
 
13.4A Why is depreciation an Expense?
13.4A Why is depreciation an Expense?13.4A Why is depreciation an Expense?
13.4A Why is depreciation an Expense?
 
1.14 Assets
1.14 Assets1.14 Assets
1.14 Assets
 
Task 2C - GST Basics Solutions
Task 2C - GST Basics SolutionsTask 2C - GST Basics Solutions
Task 2C - GST Basics Solutions
 
19.4 - The liability approach to prepaid revenue
19.4 - The liability approach to prepaid revenue19.4 - The liability approach to prepaid revenue
19.4 - The liability approach to prepaid revenue
 
21.11 Budget Variance Report
21.11 Budget Variance Report21.11 Budget Variance Report
21.11 Budget Variance Report
 
Task 2C - GST Basics
Task 2C - GST Basics Task 2C - GST Basics
Task 2C - GST Basics
 
1.19 Summary of Revenues and Expenses
1.19 Summary of Revenues and Expenses1.19 Summary of Revenues and Expenses
1.19 Summary of Revenues and Expenses
 
Apple 2015 Financial Analysis (Full year ended 30 September)
Apple 2015 Financial Analysis (Full year ended 30 September)Apple 2015 Financial Analysis (Full year ended 30 September)
Apple 2015 Financial Analysis (Full year ended 30 September)
 
How to Start your Business
How to Start your BusinessHow to Start your Business
How to Start your Business
 
1.2 Relevance
1.2 Relevance1.2 Relevance
1.2 Relevance
 
Answering Elements Questions
Answering Elements QuestionsAnswering Elements Questions
Answering Elements Questions
 
2.1 Format of the Balance Sheet
2.1 Format of the Balance Sheet2.1 Format of the Balance Sheet
2.1 Format of the Balance Sheet
 
19.5 - Recording prepaid revenue
19.5 - Recording prepaid revenue19.5 - Recording prepaid revenue
19.5 - Recording prepaid revenue
 

Similar a Answering Theory Questions

My Business is Growing, Now What? Financial Management Skills for the Entrepr...
My Business is Growing, Now What? Financial Management Skills for the Entrepr...My Business is Growing, Now What? Financial Management Skills for the Entrepr...
My Business is Growing, Now What? Financial Management Skills for the Entrepr...McKonly & Asbury, LLP
 
Fm chapter 2
Fm chapter 2Fm chapter 2
Fm chapter 2Le Ha
 
AS - 1 (Disclosure of Accounting Policies)
AS - 1 (Disclosure of Accounting Policies)AS - 1 (Disclosure of Accounting Policies)
AS - 1 (Disclosure of Accounting Policies)Sai Youdhister
 
What-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdf
What-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdfWhat-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdf
What-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdfPatrick Huey, CFP®
 
Top 10 SME Finance Tips For Entrepreneurs
Top 10 SME Finance Tips For EntrepreneursTop 10 SME Finance Tips For Entrepreneurs
Top 10 SME Finance Tips For EntrepreneursM1xchange
 
Business Ratios Bank Loans
Business Ratios Bank LoansBusiness Ratios Bank Loans
Business Ratios Bank LoansMang Engkus
 
AccountantFlyer-Legacy
AccountantFlyer-LegacyAccountantFlyer-Legacy
AccountantFlyer-LegacyJanean Hicks
 
Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...
Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...
Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...M1xchange
 
Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...
Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...
Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...Irma Miller
 
ACCOUNTING AND FINANCE. MODULE 1.pdf
ACCOUNTING AND FINANCE. MODULE 1.pdfACCOUNTING AND FINANCE. MODULE 1.pdf
ACCOUNTING AND FINANCE. MODULE 1.pdfRuthPhiri17
 
Fundamental Analysis 21-12-2020.pptx
Fundamental Analysis 21-12-2020.pptxFundamental Analysis 21-12-2020.pptx
Fundamental Analysis 21-12-2020.pptxMubashirAli440246
 
Family Business Course - The need for a Strategic mindset in Family Businesse...
Family Business Course - The need for a Strategic mindset in Family Businesse...Family Business Course - The need for a Strategic mindset in Family Businesse...
Family Business Course - The need for a Strategic mindset in Family Businesse...Silvan Mifsud
 
Managing your enterprise growth by numbers by Vinod Keni | #TiEInstitute
Managing your enterprise growth by numbers by Vinod Keni | #TiEInstituteManaging your enterprise growth by numbers by Vinod Keni | #TiEInstitute
Managing your enterprise growth by numbers by Vinod Keni | #TiEInstitutetiemumbai
 
Acquisitions - To do, or not to do? That is the question.
Acquisitions - To do, or not to do?  That is the question.Acquisitions - To do, or not to do?  That is the question.
Acquisitions - To do, or not to do? That is the question.Brad D. Cherniak
 
Driving Key Account Growth: Planning and Execution to Access the White Space
Driving Key Account Growth: Planning and Execution to Access the White SpaceDriving Key Account Growth: Planning and Execution to Access the White Space
Driving Key Account Growth: Planning and Execution to Access the White SpaceRichardson
 
Financial metrics
Financial metricsFinancial metrics
Financial metricssteve maleh
 
small business & epreneurship development U4.pdf
small business & epreneurship development U4.pdfsmall business & epreneurship development U4.pdf
small business & epreneurship development U4.pdfkittustudy7
 
Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...
Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...
Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...Kareo
 

Similar a Answering Theory Questions (20)

True fair
True fairTrue fair
True fair
 
My Business is Growing, Now What? Financial Management Skills for the Entrepr...
My Business is Growing, Now What? Financial Management Skills for the Entrepr...My Business is Growing, Now What? Financial Management Skills for the Entrepr...
My Business is Growing, Now What? Financial Management Skills for the Entrepr...
 
Fm chapter 2
Fm chapter 2Fm chapter 2
Fm chapter 2
 
AS - 1 (Disclosure of Accounting Policies)
AS - 1 (Disclosure of Accounting Policies)AS - 1 (Disclosure of Accounting Policies)
AS - 1 (Disclosure of Accounting Policies)
 
What-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdf
What-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdfWhat-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdf
What-Issues-Should-I-Consider-When-Reviewing-My-Investments-2023.pdf
 
cbox-nfp
cbox-nfpcbox-nfp
cbox-nfp
 
Top 10 SME Finance Tips For Entrepreneurs
Top 10 SME Finance Tips For EntrepreneursTop 10 SME Finance Tips For Entrepreneurs
Top 10 SME Finance Tips For Entrepreneurs
 
Business Ratios Bank Loans
Business Ratios Bank LoansBusiness Ratios Bank Loans
Business Ratios Bank Loans
 
AccountantFlyer-Legacy
AccountantFlyer-LegacyAccountantFlyer-Legacy
AccountantFlyer-Legacy
 
Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...
Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...
Unlocking the Power of Cash Flow: A Comprehensive Guide to Accounts Receivabl...
 
Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...
Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...
Using Financial Forecasts to Advise Business - Financial Forecasting 101 - Re...
 
ACCOUNTING AND FINANCE. MODULE 1.pdf
ACCOUNTING AND FINANCE. MODULE 1.pdfACCOUNTING AND FINANCE. MODULE 1.pdf
ACCOUNTING AND FINANCE. MODULE 1.pdf
 
Fundamental Analysis 21-12-2020.pptx
Fundamental Analysis 21-12-2020.pptxFundamental Analysis 21-12-2020.pptx
Fundamental Analysis 21-12-2020.pptx
 
Family Business Course - The need for a Strategic mindset in Family Businesse...
Family Business Course - The need for a Strategic mindset in Family Businesse...Family Business Course - The need for a Strategic mindset in Family Businesse...
Family Business Course - The need for a Strategic mindset in Family Businesse...
 
Managing your enterprise growth by numbers by Vinod Keni | #TiEInstitute
Managing your enterprise growth by numbers by Vinod Keni | #TiEInstituteManaging your enterprise growth by numbers by Vinod Keni | #TiEInstitute
Managing your enterprise growth by numbers by Vinod Keni | #TiEInstitute
 
Acquisitions - To do, or not to do? That is the question.
Acquisitions - To do, or not to do?  That is the question.Acquisitions - To do, or not to do?  That is the question.
Acquisitions - To do, or not to do? That is the question.
 
Driving Key Account Growth: Planning and Execution to Access the White Space
Driving Key Account Growth: Planning and Execution to Access the White SpaceDriving Key Account Growth: Planning and Execution to Access the White Space
Driving Key Account Growth: Planning and Execution to Access the White Space
 
Financial metrics
Financial metricsFinancial metrics
Financial metrics
 
small business & epreneurship development U4.pdf
small business & epreneurship development U4.pdfsmall business & epreneurship development U4.pdf
small business & epreneurship development U4.pdf
 
Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...
Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...
Patient Collections - Preparing Your Technology, Your Staff, and Your Financi...
 

Más de VCE Accounting - Michael Allison

Chapter 18 Product Costs, Period Costs, NRV - Test Solutions
Chapter 18 Product Costs, Period Costs, NRV - Test SolutionsChapter 18 Product Costs, Period Costs, NRV - Test Solutions
Chapter 18 Product Costs, Period Costs, NRV - Test SolutionsVCE Accounting - Michael Allison
 
Chapter 17 Buying and Selling Non-Current Assets - Test Solutions
Chapter 17 Buying and Selling Non-Current Assets - Test SolutionsChapter 17 Buying and Selling Non-Current Assets - Test Solutions
Chapter 17 Buying and Selling Non-Current Assets - Test SolutionsVCE Accounting - Michael Allison
 

Más de VCE Accounting - Michael Allison (20)

VCE Accounting Unit 3-4 Exam Revision Tests
VCE Accounting Unit 3-4 Exam Revision TestsVCE Accounting Unit 3-4 Exam Revision Tests
VCE Accounting Unit 3-4 Exam Revision Tests
 
Chapter 22 Analysis and Interpretation - Test 2 Solutions
Chapter 22 Analysis and Interpretation - Test 2 SolutionsChapter 22 Analysis and Interpretation - Test 2 Solutions
Chapter 22 Analysis and Interpretation - Test 2 Solutions
 
Chapter 22 Analysis and Interpretation - Test 2
Chapter 22 Analysis and Interpretation - Test 2Chapter 22 Analysis and Interpretation - Test 2
Chapter 22 Analysis and Interpretation - Test 2
 
Chapter 22 Analysis and Interpretation - Test 1
Chapter 22 Analysis and Interpretation - Test 1Chapter 22 Analysis and Interpretation - Test 1
Chapter 22 Analysis and Interpretation - Test 1
 
Chapter 22 Analysis and Interpretation - Test 1 Solutions
Chapter 22 Analysis and Interpretation - Test 1 SolutionsChapter 22 Analysis and Interpretation - Test 1 Solutions
Chapter 22 Analysis and Interpretation - Test 1 Solutions
 
Chapter 21 Budgeting - Test 2 Solutions
Chapter 21 Budgeting - Test 2 SolutionsChapter 21 Budgeting - Test 2 Solutions
Chapter 21 Budgeting - Test 2 Solutions
 
Chapter 21 Budgeting - Test 2
Chapter 21 Budgeting - Test 2Chapter 21 Budgeting - Test 2
Chapter 21 Budgeting - Test 2
 
Chapter 21 Budgeting - Test 1
Chapter 21 Budgeting - Test 1Chapter 21 Budgeting - Test 1
Chapter 21 Budgeting - Test 1
 
Chapter 21 Budgeting - Test 1 Solutions
Chapter 21 Budgeting - Test 1 SolutionsChapter 21 Budgeting - Test 1 Solutions
Chapter 21 Budgeting - Test 1 Solutions
 
Chapter 19 Prepaid and Accrued Revenues - Test
Chapter 19 Prepaid and Accrued Revenues - TestChapter 19 Prepaid and Accrued Revenues - Test
Chapter 19 Prepaid and Accrued Revenues - Test
 
Chapter 18 Product Costs, Period Costs, NRV - Test Solutions
Chapter 18 Product Costs, Period Costs, NRV - Test SolutionsChapter 18 Product Costs, Period Costs, NRV - Test Solutions
Chapter 18 Product Costs, Period Costs, NRV - Test Solutions
 
Chapter 18 Product Costs, Period Costs, NRV - Test
Chapter 18 Product Costs, Period Costs, NRV - TestChapter 18 Product Costs, Period Costs, NRV - Test
Chapter 18 Product Costs, Period Costs, NRV - Test
 
Chapter 17 Buying and Selling Non-Current Assets - Test Solutions
Chapter 17 Buying and Selling Non-Current Assets - Test SolutionsChapter 17 Buying and Selling Non-Current Assets - Test Solutions
Chapter 17 Buying and Selling Non-Current Assets - Test Solutions
 
Chapter 17 Buying and Selling Non-Current Assets - Test
Chapter 17 Buying and Selling Non-Current Assets - TestChapter 17 Buying and Selling Non-Current Assets - Test
Chapter 17 Buying and Selling Non-Current Assets - Test
 
Chapter 16 Reducing Balance Depreciation - Test Solutions
Chapter 16 Reducing Balance Depreciation - Test SolutionsChapter 16 Reducing Balance Depreciation - Test Solutions
Chapter 16 Reducing Balance Depreciation - Test Solutions
 
Chapter 16 Reducing Balance Depreciation - Test
Chapter 16 Reducing Balance Depreciation - TestChapter 16 Reducing Balance Depreciation - Test
Chapter 16 Reducing Balance Depreciation - Test
 
Chapter 15 Accounting for Returns - Test Solutions
Chapter 15 Accounting for Returns - Test SolutionsChapter 15 Accounting for Returns - Test Solutions
Chapter 15 Accounting for Returns - Test Solutions
 
Chapter 15 Accounting for Returns - Test
Chapter 15 Accounting for Returns - TestChapter 15 Accounting for Returns - Test
Chapter 15 Accounting for Returns - Test
 
Chapter 14 Prepaid and Accrued Expenses - Test Solutions
Chapter 14 Prepaid and Accrued Expenses - Test SolutionsChapter 14 Prepaid and Accrued Expenses - Test Solutions
Chapter 14 Prepaid and Accrued Expenses - Test Solutions
 
Chapter 14 Prepaid and Accrued Expenses - Test
Chapter 14 Prepaid and Accrued Expenses - TestChapter 14 Prepaid and Accrued Expenses - Test
Chapter 14 Prepaid and Accrued Expenses - Test
 

Último

Beyond the EU: DORA and NIS 2 Directive's Global Impact
Beyond the EU: DORA and NIS 2 Directive's Global ImpactBeyond the EU: DORA and NIS 2 Directive's Global Impact
Beyond the EU: DORA and NIS 2 Directive's Global ImpactPECB
 
Nutritional Needs Presentation - HLTH 104
Nutritional Needs Presentation - HLTH 104Nutritional Needs Presentation - HLTH 104
Nutritional Needs Presentation - HLTH 104misteraugie
 
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...Nguyen Thanh Tu Collection
 
Measures of Central Tendency: Mean, Median and Mode
Measures of Central Tendency: Mean, Median and ModeMeasures of Central Tendency: Mean, Median and Mode
Measures of Central Tendency: Mean, Median and ModeThiyagu K
 
Application orientated numerical on hev.ppt
Application orientated numerical on hev.pptApplication orientated numerical on hev.ppt
Application orientated numerical on hev.pptRamjanShidvankar
 
On National Teacher Day, meet the 2024-25 Kenan Fellows
On National Teacher Day, meet the 2024-25 Kenan FellowsOn National Teacher Day, meet the 2024-25 Kenan Fellows
On National Teacher Day, meet the 2024-25 Kenan FellowsMebane Rash
 
ICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptxICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptxAreebaZafar22
 
The basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptxThe basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptxheathfieldcps1
 
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptxMaritesTamaniVerdade
 
Grant Readiness 101 TechSoup and Remy Consulting
Grant Readiness 101 TechSoup and Remy ConsultingGrant Readiness 101 TechSoup and Remy Consulting
Grant Readiness 101 TechSoup and Remy ConsultingTechSoup
 
Measures of Dispersion and Variability: Range, QD, AD and SD
Measures of Dispersion and Variability: Range, QD, AD and SDMeasures of Dispersion and Variability: Range, QD, AD and SD
Measures of Dispersion and Variability: Range, QD, AD and SDThiyagu K
 
Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...
Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...
Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...christianmathematics
 
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptxBasic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptxDenish Jangid
 
How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17Celine George
 
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...Shubhangi Sonawane
 
Food Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-II
Food Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-IIFood Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-II
Food Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-IIShubhangi Sonawane
 
This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.christianmathematics
 
Advanced Views - Calendar View in Odoo 17
Advanced Views - Calendar View in Odoo 17Advanced Views - Calendar View in Odoo 17
Advanced Views - Calendar View in Odoo 17Celine George
 
General Principles of Intellectual Property: Concepts of Intellectual Proper...
General Principles of Intellectual Property: Concepts of Intellectual  Proper...General Principles of Intellectual Property: Concepts of Intellectual  Proper...
General Principles of Intellectual Property: Concepts of Intellectual Proper...Poonam Aher Patil
 

Último (20)

Beyond the EU: DORA and NIS 2 Directive's Global Impact
Beyond the EU: DORA and NIS 2 Directive's Global ImpactBeyond the EU: DORA and NIS 2 Directive's Global Impact
Beyond the EU: DORA and NIS 2 Directive's Global Impact
 
Nutritional Needs Presentation - HLTH 104
Nutritional Needs Presentation - HLTH 104Nutritional Needs Presentation - HLTH 104
Nutritional Needs Presentation - HLTH 104
 
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
TỔNG ÔN TẬP THI VÀO LỚP 10 MÔN TIẾNG ANH NĂM HỌC 2023 - 2024 CÓ ĐÁP ÁN (NGỮ Â...
 
Measures of Central Tendency: Mean, Median and Mode
Measures of Central Tendency: Mean, Median and ModeMeasures of Central Tendency: Mean, Median and Mode
Measures of Central Tendency: Mean, Median and Mode
 
Application orientated numerical on hev.ppt
Application orientated numerical on hev.pptApplication orientated numerical on hev.ppt
Application orientated numerical on hev.ppt
 
INDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptx
INDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptxINDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptx
INDIA QUIZ 2024 RLAC DELHI UNIVERSITY.pptx
 
On National Teacher Day, meet the 2024-25 Kenan Fellows
On National Teacher Day, meet the 2024-25 Kenan FellowsOn National Teacher Day, meet the 2024-25 Kenan Fellows
On National Teacher Day, meet the 2024-25 Kenan Fellows
 
ICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptxICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptx
 
The basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptxThe basics of sentences session 2pptx copy.pptx
The basics of sentences session 2pptx copy.pptx
 
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
2024-NATIONAL-LEARNING-CAMP-AND-OTHER.pptx
 
Grant Readiness 101 TechSoup and Remy Consulting
Grant Readiness 101 TechSoup and Remy ConsultingGrant Readiness 101 TechSoup and Remy Consulting
Grant Readiness 101 TechSoup and Remy Consulting
 
Measures of Dispersion and Variability: Range, QD, AD and SD
Measures of Dispersion and Variability: Range, QD, AD and SDMeasures of Dispersion and Variability: Range, QD, AD and SD
Measures of Dispersion and Variability: Range, QD, AD and SD
 
Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...
Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...
Explore beautiful and ugly buildings. Mathematics helps us create beautiful d...
 
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptxBasic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
 
How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17How to Give a Domain for a Field in Odoo 17
How to Give a Domain for a Field in Odoo 17
 
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
Ecological Succession. ( ECOSYSTEM, B. Pharmacy, 1st Year, Sem-II, Environmen...
 
Food Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-II
Food Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-IIFood Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-II
Food Chain and Food Web (Ecosystem) EVS, B. Pharmacy 1st Year, Sem-II
 
This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.This PowerPoint helps students to consider the concept of infinity.
This PowerPoint helps students to consider the concept of infinity.
 
Advanced Views - Calendar View in Odoo 17
Advanced Views - Calendar View in Odoo 17Advanced Views - Calendar View in Odoo 17
Advanced Views - Calendar View in Odoo 17
 
General Principles of Intellectual Property: Concepts of Intellectual Proper...
General Principles of Intellectual Property: Concepts of Intellectual  Proper...General Principles of Intellectual Property: Concepts of Intellectual  Proper...
General Principles of Intellectual Property: Concepts of Intellectual Proper...
 

Answering Theory Questions

  • 1. Answering Theory Questions • It is recommended that you adopt the following approach when answering a theory question: • Identify: identify the relevant Qualitative Characteristic or Accounting Principle • Define: define the Qualitative Characteristic or Accounting Principle you have identified • Relate: relate the Qualitative Characteristic or Accounting Principle to the question or case study you have been given.
  • 2. Answering Theory Questions For example, this question could be answered in the following way: “The owner of a small business has decided to omit cents from figures listed in the Balance Sheet. Explain whether the owner is correct in doing this.” Identify Relevance Define Relevance states that only information which influences decision- making should be included in the firm’s financial records. Relate In this case, the omission of cents is not material enough to effect any decision the owner makes based on the figures in the Balance Sheet.
  • 3. Explain The owner is correct in making this decision due to the concept of. Relevance. Relevance states that only information which influences decision- making should be included in the firm’s financial records. In this case, the omission of cents is not material enough to effect any decision the owner makes based on the figures in the Balance Sheet. Answering Theory Questions For example, this question could be answered in the following way: “The owner of a small business has decided to omit cents from figures listed in the Balance Sheet. Explain whether the owner is correct in doing this.”v Explain The owner is correct in making this decision due to the concept of. Relevance. Relevance states that only information which influences decision- making should be included in the firm’s financial records. In this case, the omission of cents is not material enough to effect any decision the owner makes based on the figures in the Balance Sheet. Explain The owner is correct in making this decision due to the concept of. Relevance. Relevance states that only information which influences decision- making should be included in the firm’s financial records. In this case, the omission of cents is not material enough to effect any decision the owner makes based on the figures in the Balance Sheet. Explain The owner is correct in making this decision due to the concept of. Relevance. Relevance states that only information which influences decision- making should be included in the firm’s financial records. In this case, the omission of cents is not material enough to effect any decision the owner makes based on the figures in the Balance Sheet.