Am i right with these answers... Accountin?

[Pammi]

1) The overriding criterion by which accounting information can be judged is that of

a) usefulness for decision making

b) freedom from bias

c) timeliness

d) comparability

i chose A



2) the economic entity assumption

a) is inapplicable to unincorported businesses

b) recognizes the legal aspects of business organizations

c) requires periodic income meansurement

d) is applicable to all forms of business organizations

I chose C



3) revenue generally should be recognized

a) at the end of production

b) at the time of cash collection

c) when realized

d) when realized or realizable and earned

I chose B



4) which of the following is not a time when revenue may be recognized?

A) at time of sale

b) at receipt of cash

c) during production

d) all of these are possible times of revenue recognition

I chose D



5) the quality of information that gives assurance that it is reasonable free or error and bias and is a faithful representation is

a) relevance

b) reliability

c) verifiability

d) neutrality

I chose A



let me know guys if i m on the right track here thanks

[capwest5a073515]

My thoughts are (after 25 years of experience and classes) are

1) b
2) d
3) d
4) c
5) b