1. according to the revenue recognition principles, which one of these activities do not generate revenue? A. Permitting others to use enterprise resources B. Adjustment of revenue or prior periods C. Sale of merchandise D. Disposing of investment in other entities 2. Which one of the following terms best describes assets recorded at the amount that represents the immediate purchase cost of an equivalent assets? A. Historical cost B. Realizable value C. Present value D. Current cost 3. Which one of the following is not an expense recognition principle? A. Associating cause and effect B. Immediate recognition C. Profit maximization D. Systematic and rational allocation 4. Resty is the owner and manager of resty landscaping services. Resty purchaed a new station wagon for personal use and a dump truck to be used in the business, Which of the following assumptions , concepts or contraints would be violated if both station wagon and dump truct are recorded as assets of the business? A. Materiality constraint B. Conservatism Constraint C. Reliability concept D. Seperate entity 5. These are gross inflows of economic benefits during the period arising the course of the ordinary activities of an enterprise when those inflows result in increases in equity, other that increases relating to contributions from equity prticipants. A. Revenue B. Increase in cash flow C. Net income