1291177
Question 1
Question
The ranking of items in a balance sheet by liquidity is an example of what type of scale?
Answer
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Ordinal
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Nominal
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Interval
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Ratio
Question 2
Question
What is the key advantage a ratio scale has over an interval scale?
Answer
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Equal units
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Equal gaps between units
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A neutral zero point
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Rank order
Question 3
Question
Which of the following is a characteristic of fiat measurement:
Answer
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Consistency
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Arbitrary definitions
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Accuracy
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Reliability
Question 4
Question
Accounting is best described as a form of:
Answer
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Fundamental measurement
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Derived measurement
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Ratio measurement
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Fiat Measurement
Question 5
Question
Reliability in measurement is best exhibited by which of the following accounting methods:
Answer
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Continuously Contemporary Accounting
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Historical Cost Accounting
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Fair values
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Present values
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