QUESTION 6 Match the following terms with the most appropriate definition Comparability 7 Consistency A Accounting practice conforms to other pter companies B. Independent parties are at similar amounts/valuations C. The information is provided to users early enough to be useful for decisions D.Accounting practice does not change over time 7 Verifiability Timeliness QUESTION 7 The following numbers relate to the current period: Beginning Common Stock 5900, Dividends $100. Beginning Retained Earnings 5500. Cost of Goods Sold $200 Operating Expenses $300. Ending Retained Earnings 5600 What was revenue? Place your answer on the first line below, and any supporting work below your answer. Arla 3 [12pt E.E.T. . - TT TT Paragraph %DO QE OS: Mashup BUL Click Save and Submit to see and submit. Click Save All Answers to see all answers QUESTIONS When recognizing revenue over a period of time, possible methods of allocating revenue to each time period Include (choose the best answer): Allocating revenue evenly over time Allocating revenue based on costs incurred to provide the good or service. Both of the above methods are acceptable depending on the station, None of the above is acceptable. QUESTIONS To conform to U.S. GAAP. Alpha Corp, should record adjusting journal entries for the folo two events: 1) depreciation of $30025200 of prepaid insurance was used. If nether of these two entries were recorded the Equity will be overstated and assets understated Equity will be overstated and assets overstated Equity will be understated and assets overstated Equity will be understated and assets understated None of the above QUESTION 10 Click Save and Submit to save and submit. Click Save All Answers to save all anners, QUESTION 9 To conform to U.S. GAAP, Alpha Corp. should record adjusting journal entries for the following two events: 1) depreciation of $300:2) $200 of prepaid insurance was used. If neither of these two entries were rea Equity will be overstated and assets understated Equity will be overstated and assets overstated Equity will be understated and assets overstated Equity will be understated and assets understated None of the above QUESTION 10 Using historical cost to valve land is most likely to violate which qualitative characteristic of financial accounting? Verfiability Neutrality Understandability Free from error None of the above Click Save and Submit to save and submit. Click Save All Answers to save all answers