The practice that is not based on the proprietary theory is:
A) Considering dividends as distributions of profit
B) Not considering the salaries of partners in a partnership as expenses
C) The capital maintenance principle of maintaining the physical level of operations before recognising a profit
D) The equity method of accounting for long-term investments
Correct Answer:
Verified
Q1: Contingent liabilities do not meet the criteria
Q3: It is correct that:
A)In practice the entity
Q4: Under the entity theory the assets belong
Q5: Liabilities are present obligations of an entity,whereas
Q6: Interpretation of the IASB (AASB)Framework suggests that
Q7: Which of these possible methods for settling
Q8: The version of the accounting equation that
Q9: Generally speaking accountants are more likely to
Q10: An example of where fair value measurement
Q11: The Framework recognises that settlement of liabilities
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