The ranking of items in a balance sheet by liquidity is an example of what type of scale?
Ordinal
Nominal
Interval
Ratio
What is the key advantage a ratio scale has over an interval scale?
Equal units
Equal gaps between units
A neutral zero point
Rank order
Which of the following is a characteristic of fiat measurement:
Consistency
Arbitrary definitions
Accuracy
Reliability
Accounting is best described as a form of:
Fundamental measurement
Derived measurement
Ratio measurement
Fiat Measurement
Reliability in measurement is best exhibited by which of the following accounting methods:
Continuously Contemporary Accounting
Historical Cost Accounting
Fair values
Present values
