Which of the Following Accounting Principles Prescribes That an Accounting

question 77

Multiple Choice

Which of the following accounting principles prescribes that an accounting information system report useful,understandable,timely,and pertinent information for effective decision-making?

• A)Control principle.
• B)Compatibility principle.
• C)Relevance principle.
• D)Flexibility principle.
• E)Cost-Benefit principle.

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Definitions:

Debtor Nation

A country with a net financial balance that is negative, meaning it owes more money to other countries than it is owed.

Current Account

A component of a country's balance of payments that measures the trade of goods and services, plus net earnings from abroad and net transfer payments.

Capital Account

In macroeconomics and international finance, the part of the balance of payments which records all transactions made between entities in one country with entities in the rest of the world involving assets and liabilities.

Capital Accounts

Part of a nation's balance of payments that records all transactions involving the purchase and sale of assets.