Colleges and Universities Often Use These Tests to Determine Advance

question 2

Multiple Choice

Colleges and universities often use these tests to determine advance placement,credits and admission:

• A)Individual Achievement Tests
• B)Achievement Test Batteries
• C)Subject Area tests
• D)Diagnostic tests

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Definitions:

Cost Principle

Accounting principle that requires assets, services, and goods to be recorded at their original cost rather than their current market value.

Cost Principle

An accounting principle that states transactions and assets should be recorded at their original purchase cost, factoring out any market value changes.

Revaluing Assets

The process of adjusting the book value of an asset to reflect its current market value rather than its original purchase price.

Major Disadvantage

A significant or principal drawback that adversely affects the effectiveness, efficiency, or desirability of an object, system, or method.